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Viewing 15 posts - 1,696 through 1,710 (of 3,127 total)
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  • July 24, 2008 at 9:27 PM in reply to: check this out.. #246750
    PadreBrian
    Participant

    OMG

    July 24, 2008 at 1:54 PM in reply to: New “Buy-and-Bail” rule #246152
    PadreBrian
    Participant

    [quote=gn]Just to be clear, consider the following scenarios:

    1. John currently owns & lives in a house. He has 30% equity in that house. He wants to buy another house to live in & rent out his current house. Does he need to be able to carry the payments on both homes to qualify for the loan ?

    2. Mike currently owns & lives in a house. He wants to buy another house to rent out. The house he wants to buy is currently vacant. If Mike has a 30% down payment, does he need to be able to carry the payments on both homes to qualify for the loan ?[/quote]

    The way I read it, yes on both. He will have to show he can afford to make the payment on both.

    July 24, 2008 at 1:54 PM in reply to: New “Buy-and-Bail” rule #246303
    PadreBrian
    Participant

    [quote=gn]Just to be clear, consider the following scenarios:

    1. John currently owns & lives in a house. He has 30% equity in that house. He wants to buy another house to live in & rent out his current house. Does he need to be able to carry the payments on both homes to qualify for the loan ?

    2. Mike currently owns & lives in a house. He wants to buy another house to rent out. The house he wants to buy is currently vacant. If Mike has a 30% down payment, does he need to be able to carry the payments on both homes to qualify for the loan ?[/quote]

    The way I read it, yes on both. He will have to show he can afford to make the payment on both.

    July 24, 2008 at 1:54 PM in reply to: New “Buy-and-Bail” rule #246308
    PadreBrian
    Participant

    [quote=gn]Just to be clear, consider the following scenarios:

    1. John currently owns & lives in a house. He has 30% equity in that house. He wants to buy another house to live in & rent out his current house. Does he need to be able to carry the payments on both homes to qualify for the loan ?

    2. Mike currently owns & lives in a house. He wants to buy another house to rent out. The house he wants to buy is currently vacant. If Mike has a 30% down payment, does he need to be able to carry the payments on both homes to qualify for the loan ?[/quote]

    The way I read it, yes on both. He will have to show he can afford to make the payment on both.

    July 24, 2008 at 1:54 PM in reply to: New “Buy-and-Bail” rule #246364
    PadreBrian
    Participant

    [quote=gn]Just to be clear, consider the following scenarios:

    1. John currently owns & lives in a house. He has 30% equity in that house. He wants to buy another house to live in & rent out his current house. Does he need to be able to carry the payments on both homes to qualify for the loan ?

    2. Mike currently owns & lives in a house. He wants to buy another house to rent out. The house he wants to buy is currently vacant. If Mike has a 30% down payment, does he need to be able to carry the payments on both homes to qualify for the loan ?[/quote]

    The way I read it, yes on both. He will have to show he can afford to make the payment on both.

    July 24, 2008 at 1:54 PM in reply to: New “Buy-and-Bail” rule #246370
    PadreBrian
    Participant

    [quote=gn]Just to be clear, consider the following scenarios:

    1. John currently owns & lives in a house. He has 30% equity in that house. He wants to buy another house to live in & rent out his current house. Does he need to be able to carry the payments on both homes to qualify for the loan ?

    2. Mike currently owns & lives in a house. He wants to buy another house to rent out. The house he wants to buy is currently vacant. If Mike has a 30% down payment, does he need to be able to carry the payments on both homes to qualify for the loan ?[/quote]

    The way I read it, yes on both. He will have to show he can afford to make the payment on both.

    July 24, 2008 at 1:45 PM in reply to: New “Buy-and-Bail” rule #246142
    PadreBrian
    Participant

    This is fantastic news. I heard about it last weekend.

    July 24, 2008 at 1:45 PM in reply to: New “Buy-and-Bail” rule #246293
    PadreBrian
    Participant

    This is fantastic news. I heard about it last weekend.

    July 24, 2008 at 1:45 PM in reply to: New “Buy-and-Bail” rule #246298
    PadreBrian
    Participant

    This is fantastic news. I heard about it last weekend.

    July 24, 2008 at 1:45 PM in reply to: New “Buy-and-Bail” rule #246354
    PadreBrian
    Participant

    This is fantastic news. I heard about it last weekend.

    July 24, 2008 at 1:45 PM in reply to: New “Buy-and-Bail” rule #246360
    PadreBrian
    Participant

    This is fantastic news. I heard about it last weekend.

    July 24, 2008 at 11:14 AM in reply to: Alternatives to San Diego for buying Real Estate #246024
    PadreBrian
    Participant

    Clairmont Mesa, 4S have some good deals…BUT if you are looking for a 200k house Phoenix, Vegas or Reno are good options.

    July 24, 2008 at 11:14 AM in reply to: Alternatives to San Diego for buying Real Estate #246171
    PadreBrian
    Participant

    Clairmont Mesa, 4S have some good deals…BUT if you are looking for a 200k house Phoenix, Vegas or Reno are good options.

    July 24, 2008 at 11:14 AM in reply to: Alternatives to San Diego for buying Real Estate #246178
    PadreBrian
    Participant

    Clairmont Mesa, 4S have some good deals…BUT if you are looking for a 200k house Phoenix, Vegas or Reno are good options.

    July 24, 2008 at 11:14 AM in reply to: Alternatives to San Diego for buying Real Estate #246234
    PadreBrian
    Participant

    Clairmont Mesa, 4S have some good deals…BUT if you are looking for a 200k house Phoenix, Vegas or Reno are good options.

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Viewing 15 posts - 1,696 through 1,710 (of 3,127 total)
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