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Found a place, now how to afford it.
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<blockquote data-quote="I luv herfrds" data-source="post: 758558" data-attributes="member: 5917"><p>Definately look at a lease to own agreement with the seller. Some guys are willing to do it. they get the money and not the bank.</p><p></p><p>GMN suggestion was a land deal the hubby and I were in and I would avoid at all costs. You pay mainly the interest and very little principle. Then you have that ballon payment at the end and you refinance? you pay for the place twice. Know another couple that did the same thing and their balloon payment was $300,000. they had to refinance and they are in their 50's. Told me they believe the debt is going to go to their kids.</p></blockquote><p></p>
[QUOTE="I luv herfrds, post: 758558, member: 5917"] Definately look at a lease to own agreement with the seller. Some guys are willing to do it. they get the money and not the bank. GMN suggestion was a land deal the hubby and I were in and I would avoid at all costs. You pay mainly the interest and very little principle. Then you have that ballon payment at the end and you refinance? you pay for the place twice. Know another couple that did the same thing and their balloon payment was $300,000. they had to refinance and they are in their 50's. Told me they believe the debt is going to go to their kids. [/QUOTE]
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Found a place, now how to afford it.
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