Re: National SLOWdown?...not in Vegas!!!.

Las Vegas Don wrote:

There is still a load of $$$ for the balanced, cool headed and old
school way of doing business. Money is falling on the ground in repos
like leaved in the fall under a tree. You have to just have the
discipline and controll to handel it! You can walk up to someone and
offer to take over payments and title and allow them to walk
away....then refi to a traditional thirty...and rent it out to them or
others. There is success on the upside and downside.

Don

:) WOO HOO!!

Don,
I'm not a real estate genius like you. I could not buy a house with all
cash and a small mortgage like you said you did, let alone figure out
how to own a house the Assessor has no record of you owning.
But would it be possible for you to explain to us non real estate
geniuses how you
> walk up to someone and
> offer to take over payments and title and allow them to walk
> away....then refi to a traditional thirty...and rent it out to them
> or others.
How Don, do you get a mortgage company that has a house in foreclosure
to let you take over the payments and title? How do you get a mortgage
company to qualify you with nothing down on a home that is worth less
than what the current owner owes on it? How do you refinance into a
traditional thirty in the current tight lending market and how do you rent it out without being upside down on the mortgage and tax payments?
Is that how you bought all those houses you bought in Las Vegas and Memphis?

Gary
.

Relevant Pages

  • Re: Neo-Georgism--Replying to Chris Cook
    ... ever owning a property because prices have inflated ... One simple example: the thirty-year home mortgage, ... House Is Less of a Bite By DAVID LEONHARDT and MOTOKO ... payments, far more than they once did. ...
    (sci.econ)
  • Re: Just caught up with the budget ...
    ... form of a loan charged against the house and repayable when the house ... I have never understood why people should get their mortgage ... interest paid by the taxpayer, perhaps indefinitely, and then get the ... But OTOH I can see a need for recovery of mortgage payments made by ...
    (uk.legal)
  • Re: Feds Rate Cut Wont Help Consumers Who Need it the Most
    ... for their mortgage payments or savings accounts. ... their house will have much less to spend elsewhere. ...
    (misc.survivalism)
  • Re: Mortgage calculator , interest only ?!!??confusion.
    ... If you end the 25 year interest only mortgage having ... made no repayments to the capital amount, ... that you've just paid the bank £150,000 in payments. ... Let's suppose the house cost £100K and the ...
    (uk.finance)
  • Re: Is the government "dithering" deliberately over stamp duty?
    ... Well it's one way to address the issue of 'affordable housing', ... buy a house were now in a better position. ... to keep what these days is a relatively small mortgage going. ... the banks are in the business of risk management.... ...
    (uk.politics.misc)