- This topic has 36 replies, 7 voices, and was last updated 16 years, 10 months ago by fsbo.
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June 14, 2007 at 11:02 AM #59306June 14, 2007 at 11:14 AM #59281Alex_angelParticipant
by running a 100% finianced loan means paying a higher interest rate wich would make the payments even worse.
June 14, 2007 at 11:14 AM #59310Alex_angelParticipantby running a 100% finianced loan means paying a higher interest rate wich would make the payments even worse.
June 14, 2007 at 12:04 PM #59295PerryChaseParticipantHe could go with interest only or option ARM. That will give him more cash flow, for the long-term. Interest rates should not really matter, because over the long-term he’ll make it up on appreciation and enjoyment. The important thing is to get into the house now so he can build up his future for the long-term.
June 14, 2007 at 12:04 PM #59324PerryChaseParticipantHe could go with interest only or option ARM. That will give him more cash flow, for the long-term. Interest rates should not really matter, because over the long-term he’ll make it up on appreciation and enjoyment. The important thing is to get into the house now so he can build up his future for the long-term.
June 16, 2007 at 12:20 AM #59765fsboParticipantIt’s very possible to get deposit back, if your in-law got a good deal – deep discounts AND huge upgrades PLUS incentives. The better deal you got, the easier you could back it out, the sales agents can sell it to the other buyers. There are always some uninformed buyers around.
A friend of mine backed out a contract last year, the sales agent got mad at the very beginning, but later she sold the same house to another buyer with $30K more (with same upgrades and incentives), then she returned the deposit in full along with a good luck card…
June 16, 2007 at 12:20 AM #59798fsboParticipantIt’s very possible to get deposit back, if your in-law got a good deal – deep discounts AND huge upgrades PLUS incentives. The better deal you got, the easier you could back it out, the sales agents can sell it to the other buyers. There are always some uninformed buyers around.
A friend of mine backed out a contract last year, the sales agent got mad at the very beginning, but later she sold the same house to another buyer with $30K more (with same upgrades and incentives), then she returned the deposit in full along with a good luck card…
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