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H
hog#head#cheese
Guest
Is it possible to just take over payments with no credit involved?Just curious as I am in need of new home but my credit is in disaray at the moment.
H
hog#head#cheese
Guest
Sorry,Foreclosures
H
hog#head#cheese
Guest
bw1 said:
Explain fruitcup
H
hog#head#cheese
Guest
miplank said:
Why not?its better than being vacant
S
silverstar1025
Guest
I know around here lots of people are renting them out.
H
hog#head#cheese
Guest
silverstar1025 said:
Rents here are threw the roof,Id rather own again
hog#head#cheese said:
too me it seems like they would be perpetuating the cycle...
Then again...I don't know what your credit situation is, maybe its not that bad.
But the reason their are so many foreclosures right now is banks were approving everyone for home loans and when the economy tightened its belt they had to bail.
bw1
Banned
hog#head#cheese said:
I deal with this everyday, as I represent investors buying non-perfoming notes from a bank trader. I won't even bore you with the details. Really simply in "todays" times with the disater the lender market just went through it would be impossible to get a defaulted loan with no credit.
H
hog#head#cheese
Guest
miplank said:
But now they have a million vacant homes with taxs piling up you would think anyone with a job should be able to take one
hog#head#cheese said:
it doesn't work that way...even in times of economic stability banks aren't going to loosen up the "credit" belt and start handing out loans. Its actually the opposite.
Right now its tougher to get a loan, so you better have damn good credit if you want one at a decent rate.
H
hog#head#cheese
Guest
doubtful
hog#head#cheese said:
OLOLOLOLLOLOL
I can't believe you asked this question
"Here's your sign"
Hi i am Mr HHC. I would like to buy your house and keep the mortgage you are in, STILL under your name because my credit sucks
Hi, I am Mr. House seller
Please get the f out of my face and off my property
OLOLOOLL this post is so f--n funny I can't even comprehend if it was a joke or not
H
hog#head#cheese
Guest
Its not that unrealistic
H
hog#head#cheese
Guest
rnch said:
So banks would rather cut fuckin grass and maintain properties than gamble on new money?
i am trying to buy a repod'd shotgun double in bywater now... getting a loan is much harder now than 2 years ago! no money down loans are impossible to find...PMI (private mortgage insurance) is mandatory for the first year unless more than 1/3 of the mortgage is covered by the down payment...hog#head#cheese said:
friggin PMI is like $75 to 110 per month! 
hog#head#cheese said:
Yes. Banks don't want to lend mortgage money, EVER.
They only do it cuz the government says they have to.
Banks want to stick with savings/checking/MM accounts, CD's
Also, there is something called an "Assumable Mortgage" which means you can take over the same rate/term from someone, say a family member. It doesn't really exist anymore today.....
rnch said:i am trying to buy a repod'd shotgun double in bywater now... getting a loan is much harder now than 2 years ago! no money down loans are impossible to find...PMI (private mortgage insurance) is mandatory for the first year unless more than 1/3 of the mortgage is covered by the down payment...
PMI has to be carried if you don't put atleast 20% down...if you put say 10% down you have to carry PMI until you've reached 20% in equity.
H
hog#head#cheese
Guest
miplank said:
Good ?,I already bought and sold a home fha.What about owner finance?
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