Posted by dontjustrent on November 10, 2009 at 16:06:52:
In Reply to: Re: AHHHHHHHHHHHHHHHHHHHHHH!! HEEELLPPPPPPP!!!!! posted by mattd22 on November 01, 2009 at 08:11:39:
Thank you for your imput. You are not as negative as others here. Dont tell me there is no deal. Maybe not in your style, but example:
I got the deal this way,
owes $500k worth about 530-550k with offers in this area going up now. (asking 400, selling for 600).
I got a couple that only had 35k down and would make payments equal to mortgage payment plus $100. I negotiated with the bank and got them to exclude/erase the back payments and start with no mods on the loan and just keep it the way it is. I will make payments and the loan wil stay current.
Guess what? I got the 35k down from buyer and have a contract for 570k in 18 months.
The old owner is free and clear (until I buy), his credit ok, bank got the money and I got 35k upfront with possible 70k later if the tenant/buyer buys.I know I am new, but if someone is losing, in turn, someone is winning. The seller was losing, how can someone win? I think I got it.
My 1st. Wohoo!!!!!!!!!!!!!!