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lfterrell
Participant[quote=Bristol Chicken][quote=UCGal]Not to nitpick – but your downpayment is only 4% of your proposed purchase price… that’s in the same ballpark as FHA’s low down programs…
Personally, I’d keep renting, working on your credit rating and saving your pennies to increase your down. I know I sound judgemental but with such a small down and admissions of poor credit rating, I don’t think you’re ready to buy.[/quote]
Ready to buy? Please do not discourage these people. We need all the help we can get. Must keep the credit / real estate ponzi moving towards the peak of the triangle. If the peak is not supported the sides will collapse. If the sides collapse the base will be covered in rubble. If the base is covered in rubble we can’t have growth. Who will clear all the rubble? Our childrens children? The democrats? The republicans? Of course not. Only Ronald Regan could solve this problem and he’s dead. (Chuck Norris could fix it but doesn’t have the time).
Unbridled speculation, greed, no morals, no stigma now for bad decisions. Bankruptcy, foreclosure are taught and accepted as financial planning. Entitlement society, something for nothing with the uncle to back you up if things go wrong. This is our housing market. Accept it and support it.
Yes, these people are ready to buy. And we are collectively ready to sell to them. (besides I may want to buy their house with cash at 20-30% off in a couple of years when vacant)[/quote]
How interesting without knowing much, only that I’ve saved some money and admitted my credit score is not where I want it (685 average) you’ve gone on this rant.
I’m sure it made you feel better, but the bile you keep inside will eventually eat you alive.Actually we own a home in Austin, TX but need it to gain more before we can sell and would like to buy, if possible, once we relocate to San Diego vice renting four to five years.
Participant[quote=Bristol Chicken][quote=UCGal]Not to nitpick – but your downpayment is only 4% of your proposed purchase price… that’s in the same ballpark as FHA’s low down programs…
Personally, I’d keep renting, working on your credit rating and saving your pennies to increase your down. I know I sound judgemental but with such a small down and admissions of poor credit rating, I don’t think you’re ready to buy.[/quote]
Ready to buy? Please do not discourage these people. We need all the help we can get. Must keep the credit / real estate ponzi moving towards the peak of the triangle. If the peak is not supported the sides will collapse. If the sides collapse the base will be covered in rubble. If the base is covered in rubble we can’t have growth. Who will clear all the rubble? Our childrens children? The democrats? The republicans? Of course not. Only Ronald Regan could solve this problem and he’s dead. (Chuck Norris could fix it but doesn’t have the time).
Unbridled speculation, greed, no morals, no stigma now for bad decisions. Bankruptcy, foreclosure are taught and accepted as financial planning. Entitlement society, something for nothing with the uncle to back you up if things go wrong. This is our housing market. Accept it and support it.
Yes, these people are ready to buy. And we are collectively ready to sell to them. (besides I may want to buy their house with cash at 20-30% off in a couple of years when vacant)[/quote]
How interesting without knowing much, only that I’ve saved some money and admitted my credit score is not where I want it (685 average) you’ve gone on this rant.
I’m sure it made you feel better, but the bile you keep inside will eventually eat you alive.Actually we own a home in Austin, TX but need it to gain more before we can sell and would like to buy, if possible, once we relocate to San Diego vice renting four to five years.
Participant[quote=Bristol Chicken][quote=UCGal]Not to nitpick – but your downpayment is only 4% of your proposed purchase price… that’s in the same ballpark as FHA’s low down programs…
Personally, I’d keep renting, working on your credit rating and saving your pennies to increase your down. I know I sound judgemental but with such a small down and admissions of poor credit rating, I don’t think you’re ready to buy.[/quote]
Ready to buy? Please do not discourage these people. We need all the help we can get. Must keep the credit / real estate ponzi moving towards the peak of the triangle. If the peak is not supported the sides will collapse. If the sides collapse the base will be covered in rubble. If the base is covered in rubble we can’t have growth. Who will clear all the rubble? Our childrens children? The democrats? The republicans? Of course not. Only Ronald Regan could solve this problem and he’s dead. (Chuck Norris could fix it but doesn’t have the time).
Unbridled speculation, greed, no morals, no stigma now for bad decisions. Bankruptcy, foreclosure are taught and accepted as financial planning. Entitlement society, something for nothing with the uncle to back you up if things go wrong. This is our housing market. Accept it and support it.
Yes, these people are ready to buy. And we are collectively ready to sell to them. (besides I may want to buy their house with cash at 20-30% off in a couple of years when vacant)[/quote]
How interesting without knowing much, only that I’ve saved some money and admitted my credit score is not where I want it (685 average) you’ve gone on this rant.
I’m sure it made you feel better, but the bile you keep inside will eventually eat you alive.Actually we own a home in Austin, TX but need it to gain more before we can sell and would like to buy, if possible, once we relocate to San Diego vice renting four to five years.
Participant[quote=Bristol Chicken][quote=UCGal]Not to nitpick – but your downpayment is only 4% of your proposed purchase price… that’s in the same ballpark as FHA’s low down programs…
Personally, I’d keep renting, working on your credit rating and saving your pennies to increase your down. I know I sound judgemental but with such a small down and admissions of poor credit rating, I don’t think you’re ready to buy.[/quote]
Ready to buy? Please do not discourage these people. We need all the help we can get. Must keep the credit / real estate ponzi moving towards the peak of the triangle. If the peak is not supported the sides will collapse. If the sides collapse the base will be covered in rubble. If the base is covered in rubble we can’t have growth. Who will clear all the rubble? Our childrens children? The democrats? The republicans? Of course not. Only Ronald Regan could solve this problem and he’s dead. (Chuck Norris could fix it but doesn’t have the time).
Unbridled speculation, greed, no morals, no stigma now for bad decisions. Bankruptcy, foreclosure are taught and accepted as financial planning. Entitlement society, something for nothing with the uncle to back you up if things go wrong. This is our housing market. Accept it and support it.
Yes, these people are ready to buy. And we are collectively ready to sell to them. (besides I may want to buy their house with cash at 20-30% off in a couple of years when vacant)[/quote]
How interesting without knowing much, only that I’ve saved some money and admitted my credit score is not where I want it (685 average) you’ve gone on this rant.
I’m sure it made you feel better, but the bile you keep inside will eventually eat you alive.Actually we own a home in Austin, TX but need it to gain more before we can sell and would like to buy, if possible, once we relocate to San Diego vice renting four to five years.
Participant[quote=dd123]never heard about agreement of sale, what is this ?[/quote]
An Agreement of Sale is a contract between buyer and seller and does not involve the traditional mortgage lender. There are two closings, one when you initially put money down; you take possession of the property and make monthly payments, usually to a third party. The second closing happens three or four years later when you pay of the mortgage, usually through obtaining a loan via refinance. At that time you get title.
The benefit to the buyer is that if they cannot get a traditional loan, but hav income and a down then they can get into a home. The benefit for the seller is that this does not require an appraisal, if for any reason the buyer defaults, the home and all the money paid in remains with the seller. The retains title until the loan is paid off.
This is great for both parties, and if the seller was going to rent out the property anyway, then he can get a little more money up front and perhaps sell closer to the desired price.Participant[quote=dd123]never heard about agreement of sale, what is this ?[/quote]
An Agreement of Sale is a contract between buyer and seller and does not involve the traditional mortgage lender. There are two closings, one when you initially put money down; you take possession of the property and make monthly payments, usually to a third party. The second closing happens three or four years later when you pay of the mortgage, usually through obtaining a loan via refinance. At that time you get title.
The benefit to the buyer is that if they cannot get a traditional loan, but hav income and a down then they can get into a home. The benefit for the seller is that this does not require an appraisal, if for any reason the buyer defaults, the home and all the money paid in remains with the seller. The retains title until the loan is paid off.
This is great for both parties, and if the seller was going to rent out the property anyway, then he can get a little more money up front and perhaps sell closer to the desired price.Participant[quote=dd123]never heard about agreement of sale, what is this ?[/quote]
An Agreement of Sale is a contract between buyer and seller and does not involve the traditional mortgage lender. There are two closings, one when you initially put money down; you take possession of the property and make monthly payments, usually to a third party. The second closing happens three or four years later when you pay of the mortgage, usually through obtaining a loan via refinance. At that time you get title.
The benefit to the buyer is that if they cannot get a traditional loan, but hav income and a down then they can get into a home. The benefit for the seller is that this does not require an appraisal, if for any reason the buyer defaults, the home and all the money paid in remains with the seller. The retains title until the loan is paid off.
This is great for both parties, and if the seller was going to rent out the property anyway, then he can get a little more money up front and perhaps sell closer to the desired price.Participant[quote=dd123]never heard about agreement of sale, what is this ?[/quote]
An Agreement of Sale is a contract between buyer and seller and does not involve the traditional mortgage lender. There are two closings, one when you initially put money down; you take possession of the property and make monthly payments, usually to a third party. The second closing happens three or four years later when you pay of the mortgage, usually through obtaining a loan via refinance. At that time you get title.
The benefit to the buyer is that if they cannot get a traditional loan, but hav income and a down then they can get into a home. The benefit for the seller is that this does not require an appraisal, if for any reason the buyer defaults, the home and all the money paid in remains with the seller. The retains title until the loan is paid off.
This is great for both parties, and if the seller was going to rent out the property anyway, then he can get a little more money up front and perhaps sell closer to the desired price.Participant[quote=dd123]never heard about agreement of sale, what is this ?[/quote]
An Agreement of Sale is a contract between buyer and seller and does not involve the traditional mortgage lender. There are two closings, one when you initially put money down; you take possession of the property and make monthly payments, usually to a third party. The second closing happens three or four years later when you pay of the mortgage, usually through obtaining a loan via refinance. At that time you get title.
The benefit to the buyer is that if they cannot get a traditional loan, but hav income and a down then they can get into a home. The benefit for the seller is that this does not require an appraisal, if for any reason the buyer defaults, the home and all the money paid in remains with the seller. The retains title until the loan is paid off.
This is great for both parties, and if the seller was going to rent out the property anyway, then he can get a little more money up front and perhaps sell closer to the desired price. -
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