Cross Security

So you go to sell your own home. Hey, it's Aaron. A little tip around cross securitization. Now people probably don't know what that means and people usually find out that their properties are crossed when it's too late, when they've gone to sell their own home. When you go to sell your own home and your own home is crossed with another property and that property has changed in value, whether downwards or upwards, it can turn into a little bit of a mess. If you have cross securitised, what it means is that they've taken your own place. Plus say an investment property, which is the most common and let's say your own Place is $200,000. The investment property is $100,000. That means the bank can lend 80% of it added together, so $300,000. They can lend up to 80% under minimal costs and go from there. When you come to uncross it, that's where you might see a lot of your equity get sucked up in to the other property. Because when you do uncross and say you are sitting at 80%, you can't then magically get your other property up to 90% without a full application and full income verification. And that can be sometimes a little hard, especially if you've done this deal four to five years ago, which is what we're seeing a lot of these days. So check out are your properties crossed up. If you went to sell your property just to move in on with life, check it out, comment below. And if you're all crossed up, I can help. Bye now.