Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Like a lot of people I have a couple of recent foreclosures, the last one being 1.5 years ago. I found a condo with an ocean view that is 1/4 the price of its high. It's a great deal and I don't want to pass it up! I have an existing home that I have more than 50% equity in, and I can probably swing 25% or more down on the condo. I can easily take care of the extra payment even if I don't have a renter for it.
What are my options? The last owner financed situation that presented itself, the owner was trying to get twice the market rate for the house and 8% interest rate. I could see some broke bloke going for something like this but I do have a substantial down.
Call a local mortgage broker, he will tell you your options based on your application. Impossible to tell you options with the limited amount of info you gave. You need to do a full application.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
