[Adebisi]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

Hold the house for a couple of years and if it depreciates, stop paying the mortgage and wait for the government to kick you out. With any luck, there will be some defect in the mortgage and the government will never be able to kick you out and you’ll get a basically free house. Alternatively, you might be able to get the government to reduce your payments/principal. At the very least, you’ll be able to live housing-payment free while you wait to get evicted. If you do end up getting evicted, rent for a couple of years and then try again.

The problem with the system today is that shenanigans like this make economic sense even though it’s morally shitty.

[Adebisi]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

Hold the house for a couple of years and if it depreciates, stop paying the mortgage and wait for the government to kick you out. With any luck, there will be some defect in the mortgage and the government will never be able to kick you out and you’ll get a basically free house. Alternatively, you might be able to get the government to reduce your payments/principal. At the very least, you’ll be able to live housing-payment free while you wait to get evicted. If you do end up getting evicted, rent for a couple of years and then try again.

The problem with the system today is that shenanigans like this make economic sense even though it’s morally shitty.

[Adebisi]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

Hold the house for a couple of years and if it depreciates, stop paying the mortgage and wait for the government to kick you out. With any luck, there will be some defect in the mortgage and the government will never be able to kick you out and you’ll get a basically free house. Alternatively, you might be able to get the government to reduce your payments/principal. At the very least, you’ll be able to live housing-payment free while you wait to get evicted. If you do end up getting evicted, rent for a couple of years and then try again.

The problem with the system today is that shenanigans like this make economic sense even though it’s morally shitty.

[Adebisi]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

Hold the house for a couple of years and if it depreciates, stop paying the mortgage and wait for the government to kick you out. With any luck, there will be some defect in the mortgage and the government will never be able to kick you out and you’ll get a basically free house. Alternatively, you might be able to get the government to reduce your payments/principal. At the very least, you’ll be able to live housing-payment free while you wait to get evicted. If you do end up getting evicted, rent for a couple of years and then try again.

The problem with the system today is that shenanigans like this make economic sense even though it’s morally shitty.

[Adebisi]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

Hold the house for a couple of years and if it depreciates, stop paying the mortgage and wait for the government to kick you out. With any luck, there will be some defect in the mortgage and the government will never be able to kick you out and you’ll get a basically free house. Alternatively, you might be able to get the government to reduce your payments/principal. At the very least, you’ll be able to live housing-payment free while you wait to get evicted. If you do end up getting evicted, rent for a couple of years and then try again.

The problem with the system today is that shenanigans like this make economic sense even though it’s morally shitty.

[Adebisi]

Good gravy. That thing was from Berkely right? I wonder how much LSD they dropped before writing that?

My guess is this manifesto has been hanging around in one form or another at Berkely since the 1960’s and they are just now ‘re-releasing’ it.

Kids today need to suck it the eff up and stop their whinging. Get a haircut and get a real job. Uncle Sam doesn’t owe you a living. You’ve got to earn it.

[Adebisi]

Good gravy. That thing was from Berkely right? I wonder how much LSD they dropped before writing that?

My guess is this manifesto has been hanging around in one form or another at Berkely since the 1960’s and they are just now ‘re-releasing’ it.

Kids today need to suck it the eff up and stop their whinging. Get a haircut and get a real job. Uncle Sam doesn’t owe you a living. You’ve got to earn it.

[Adebisi]

Good gravy. That thing was from Berkely right? I wonder how much LSD they dropped before writing that?

My guess is this manifesto has been hanging around in one form or another at Berkely since the 1960’s and they are just now ‘re-releasing’ it.

Kids today need to suck it the eff up and stop their whinging. Get a haircut and get a real job. Uncle Sam doesn’t owe you a living. You’ve got to earn it.

[Adebisi]

Good gravy. That thing was from Berkely right? I wonder how much LSD they dropped before writing that?

My guess is this manifesto has been hanging around in one form or another at Berkely since the 1960’s and they are just now ‘re-releasing’ it.

Kids today need to suck it the eff up and stop their whinging. Get a haircut and get a real job. Uncle Sam doesn’t owe you a living. You’ve got to earn it.

[Adebisi]

Good gravy. That thing was from Berkely right? I wonder how much LSD they dropped before writing that?

My guess is this manifesto has been hanging around in one form or another at Berkely since the 1960’s and they are just now ‘re-releasing’ it.

Kids today need to suck it the eff up and stop their whinging. Get a haircut and get a real job. Uncle Sam doesn’t owe you a living. You’ve got to earn it.

[Adebisi]

[quote=sdrealtor]Sorry but SD R you got it wrong. You dont want a full lien release you want a full release on the note. A mortgage has two aspects to it. I lien ont he property and a note you owe to the lender. Getting the lien released allows you to sell the property but it does not get you released from paying back the note.[/quote]

I can see now why SDRealtor received 0 votes in the King of Real Estate poll.

[Adebisi]

[quote=sdrealtor]Sorry but SD R you got it wrong. You dont want a full lien release you want a full release on the note. A mortgage has two aspects to it. I lien ont he property and a note you owe to the lender. Getting the lien released allows you to sell the property but it does not get you released from paying back the note.[/quote]

I can see now why SDRealtor received 0 votes in the King of Real Estate poll.

[Adebisi]

[quote=sdrealtor]Sorry but SD R you got it wrong. You dont want a full lien release you want a full release on the note. A mortgage has two aspects to it. I lien ont he property and a note you owe to the lender. Getting the lien released allows you to sell the property but it does not get you released from paying back the note.[/quote]

I can see now why SDRealtor received 0 votes in the King of Real Estate poll.

[Adebisi]

[quote=sdrealtor]Sorry but SD R you got it wrong. You dont want a full lien release you want a full release on the note. A mortgage has two aspects to it. I lien ont he property and a note you owe to the lender. Getting the lien released allows you to sell the property but it does not get you released from paying back the note.[/quote]

I can see now why SDRealtor received 0 votes in the King of Real Estate poll.

[Adebisi]

[quote=sdrealtor]Sorry but SD R you got it wrong. You dont want a full lien release you want a full release on the note. A mortgage has two aspects to it. I lien ont he property and a note you owe to the lender. Getting the lien released allows you to sell the property but it does not get you released from paying back the note.[/quote]

I can see now why SDRealtor received 0 votes in the King of Real Estate poll.

[Author]

Posts