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November 11, 2007 at 3:20 PM in reply to: Anyone else see problems here? $30,000 income buys $316,000 house? #98557November 11, 2007 at 3:20 PM in reply to: Anyone else see problems here? $30,000 income buys $316,000 house? #98563
drunkle
Participant“The lending package that enabled the family to buy the home was a patchwork of fixed-rate loans, grants for low-income buyers and city redevelopment funds. ”
300k home
30k stated income97/3 fha loan
low income program, 5k
http://www.sandiego.gov/redevelopment-agency/pdf/nofaprograms.pdfredevelopment funds 5-30k
http://www.sandiego.gov/redevelopment-agency/pdf/fshomeheights.pdfresults at best in a 270k price (not including whatever ancillary costs, agent fees, broker, etc).
at 6%, that’s some 1350/mo. 30k/year with 5 exemptions… dunno? 2500/mo in pocket? his wife probably works too…
it’s close, i wouldn’t do it, especially 300k purchase price for city heights. but doable and not ridiculously “socialized”.
Participantflu:
i was wondering about buying another house as a means of protecting his cash against seizure… use the whole thing to buy outright or as a downpayment should someone lend him the rest…
i think it’d be a lot harder to simply make that kind of money “disappear”… pretty sure cc fraud is also a serious offense…
Participantflu:
i was wondering about buying another house as a means of protecting his cash against seizure… use the whole thing to buy outright or as a downpayment should someone lend him the rest…
i think it’d be a lot harder to simply make that kind of money “disappear”… pretty sure cc fraud is also a serious offense…
Participantflu:
i was wondering about buying another house as a means of protecting his cash against seizure… use the whole thing to buy outright or as a downpayment should someone lend him the rest…
i think it’d be a lot harder to simply make that kind of money “disappear”… pretty sure cc fraud is also a serious offense…
Participantflu:
i was wondering about buying another house as a means of protecting his cash against seizure… use the whole thing to buy outright or as a downpayment should someone lend him the rest…
i think it’d be a lot harder to simply make that kind of money “disappear”… pretty sure cc fraud is also a serious offense…
Participantwhat would happen if he took his 150 and bought another home. one that is at current, cheaper prices, something like a condo in a heavily depressed area (np, mission valley, murrieta, etc). move into it and let everything else go (cc debt, investment props, etc). keep little to nothing, let it all go to repayment. negotiate a manageable repayment schedule for the rest and work for a living.
Participantwhat would happen if he took his 150 and bought another home. one that is at current, cheaper prices, something like a condo in a heavily depressed area (np, mission valley, murrieta, etc). move into it and let everything else go (cc debt, investment props, etc). keep little to nothing, let it all go to repayment. negotiate a manageable repayment schedule for the rest and work for a living.
Participantwhat would happen if he took his 150 and bought another home. one that is at current, cheaper prices, something like a condo in a heavily depressed area (np, mission valley, murrieta, etc). move into it and let everything else go (cc debt, investment props, etc). keep little to nothing, let it all go to repayment. negotiate a manageable repayment schedule for the rest and work for a living.
Participantwhat would happen if he took his 150 and bought another home. one that is at current, cheaper prices, something like a condo in a heavily depressed area (np, mission valley, murrieta, etc). move into it and let everything else go (cc debt, investment props, etc). keep little to nothing, let it all go to repayment. negotiate a manageable repayment schedule for the rest and work for a living.
November 9, 2007 at 4:04 PM in reply to: Dow Drops to 13042 at week’s end. Let’s make bets and discuss at next meet up… #97903Participants&p 500 at 700 by end of summer.
November 9, 2007 at 4:04 PM in reply to: Dow Drops to 13042 at week’s end. Let’s make bets and discuss at next meet up… #97970Participants&p 500 at 700 by end of summer.
November 9, 2007 at 4:04 PM in reply to: Dow Drops to 13042 at week’s end. Let’s make bets and discuss at next meet up… #97977Participants&p 500 at 700 by end of summer.
November 9, 2007 at 4:04 PM in reply to: Dow Drops to 13042 at week’s end. Let’s make bets and discuss at next meet up… #97984Participants&p 500 at 700 by end of summer.
Participantrusty:
that sweet angel is the lovely actress and sex pot brittany murphy and dont you sully her name with lewd and tawdry insinuations. realty agent indeed. that’s rude!
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