Monday, March 22, 2010

Environmentally Friendly Homes Attract Wariness From Banks Making Mortgage Loans - WSJ.com

Environmentally Friendly Homes Attract Wariness From Banks Making Mortgage Loans - WSJ.com:

In class we talk about specialized vs generalized assets. Today's case in point: "odd homes".

"Getting financing for unusual homes has never been easy. Near Granby, Colo., Richard Messer opted not to look for a conventional mortgage because there was nothing conventional about what's inside his walls: 50 tons of paper Coors beer packaging used as insulation. Mr. Messer got a $60,000 loan from friends to help pay for it. 'The problem for anyone trying to do a unique house is financing,' he says."

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