intentional overextension

[Coronita]

I would think that financial stupidity 2.0 is not covered by the bailout (as opposed financial stupidity 1.0 that occurred during the housing bubble)….(I’m not implying you’re stupid…I’m sure you’re much more intelligent than me)…

But you need to make sure that all this bailout would apply to folks who purchase in 2008-2009. I thought there was a date range on who the bailout applies to.

Also, you need to be careful that you don’t pay too much down. If you have 20%+ down, you’re not going to get bailed. If they foreclose on you, the bank still wins.

Also, how much is your credit worth? If you don’t work at a defense job, it probably doesn’t matter as much.

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

[patientrenter]

[quote=jpinpb]Would you not be able to do a 3% FHA? Pretty close to zero down, depending on the loan amount.[/quote]

If you can get 3% down, get the seller to pay all the costs, and creatively get a 3% loan from the seller or someone, then you’re at very little financial risk, as far as I can see. It would be worth determining your eligibility for all the different programs for irresponsible people and systematically maximizing your upside while covering yourself on the downside. I am sure there are services that can advise on how to do all this very effectively. Where are our realtors?

[jpinpb]

LOL. Brilliant! Every new scam I hear out there only makes me feel like more of an idiot for playing by the rules and having morals. If only I could fly around the world backwards.

Edit – You might be able to get part of that 3% down back from the realtor if you get one that pays back part of their commission.

If you buy from developer, it might be even easier to get money back somehow.

Any other creative ideas out there?

[jpinpb]

LOL. Brilliant! Every new scam I hear out there only makes me feel like more of an idiot for playing by the rules and having morals. If only I could fly around the world backwards.

Edit – You might be able to get part of that 3% down back from the realtor if you get one that pays back part of their commission.

If you buy from developer, it might be even easier to get money back somehow.

Any other creative ideas out there?

[jpinpb]

LOL. Brilliant! Every new scam I hear out there only makes me feel like more of an idiot for playing by the rules and having morals. If only I could fly around the world backwards.

Edit – You might be able to get part of that 3% down back from the realtor if you get one that pays back part of their commission.

If you buy from developer, it might be even easier to get money back somehow.

Any other creative ideas out there?

[jpinpb]

LOL. Brilliant! Every new scam I hear out there only makes me feel like more of an idiot for playing by the rules and having morals. If only I could fly around the world backwards.

Edit – You might be able to get part of that 3% down back from the realtor if you get one that pays back part of their commission.

If you buy from developer, it might be even easier to get money back somehow.

Any other creative ideas out there?

[jpinpb]

LOL. Brilliant! Every new scam I hear out there only makes me feel like more of an idiot for playing by the rules and having morals. If only I could fly around the world backwards.

Edit – You might be able to get part of that 3% down back from the realtor if you get one that pays back part of their commission.

If you buy from developer, it might be even easier to get money back somehow.

Any other creative ideas out there?

[NotCranky]

Why can’t people be happy with what they can afford? My life is pure bliss and anyone making 125k a year for a few years can have my house easily.
Shut up Russell.

[NotCranky]

Why can’t people be happy with what they can afford? My life is pure bliss and anyone making 125k a year for a few years can have my house easily.
Shut up Russell.

[NotCranky]

Why can’t people be happy with what they can afford? My life is pure bliss and anyone making 125k a year for a few years can have my house easily.
Shut up Russell.

[NotCranky]

Why can’t people be happy with what they can afford? My life is pure bliss and anyone making 125k a year for a few years can have my house easily.
Shut up Russell.

[Author]

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