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Thread: trying to buy a house, donations appreciated.

  1. #1
    wsuwrhr
    In the spirit of 78 Eliminator's topic, I would like to try my own.
    We are trying to buy a house in this crazy market.
    Thinking of getting something in the area, maybe a foreclosure.
    I don't know what I can give in return, I do think that boating in the near future will be SERIOUSLY reduced.
    I was wondering how many of you would like to send me money to help with a down payment. Sounds good to me.
    If you have any advise for buying a house in forclosure, or advise at all, it would be appreciated.
    Thanks in advance,
    Brian
    (can machine custom parts for you)
    PayPal out of your account to wsuwrhr@yahoo.com
    Credit card PayPal to sbparts.com
    Cash, checks, accepted also.
    [ July 10, 2003, 05:46 PM: Message edited by: wsuwrhr ]

  2. #2
    bigriverdog
    First thing is to get qualified with a lender. A good portion of the current sales are 100% financed so a down is not a big deal. As far as buying a foreclosure, it used to be a good deal. The current market has driven up the prices of hud homes etc, where they are not always the good deal. Get qualified and then go to where you can afford a home. Love to help ya, e-mail me if you wish.

  3. #3
    wsuwrhr
    My long term goal is to buy a house at the river.
    Maybe a nice down payment from the future equity I earn in the house I am trying to buy right now. Sound like a plan?
    Well if I do, everyone is invited to stay with us when we go to the river. Kinda live RiverDave's place...a common crash-out for the boards.
    Brian
    [ July 10, 2003, 05:59 PM: Message edited by: wsuwrhr ]

  4. #4
    wsuwrhr
    bigriverdog:
    First thing is to get qualified with a lender. A good portion of the current sales are 100% financed so a down is not a big deal. As far as buying a foreclosure, it used to be a good deal. The current market has driven up the prices of hud homes etc, where they are not always the good deal. Get qualified and then go to where you can afford a home. Love to help ya, e-mail me if you wish. Thanks, so far we have gotten pre-qualified at 200,000 which isn't much in this market. Which is why I was thinking about a foreclosure. I really didn't want to have to drive a long distance to work if I could help it.(more money in gas, wear and tear, ect.) That leaves me in San Bernardino, Fontana, Riverside, ect.
    Thanks for the ideas.
    Brian
    Zero down is the problem. That is where we are.

  5. #5
    bigriverdog
    if your credit is good 100% financing is not a prob. if you would like to know what 200k will buy you where, i could help. really no strings I'm not a loan broker.

  6. #6
    wsuwrhr
    Yes let me know, so far I haven't found shit except the cities I listed. It isn't that I dont like the towns, I work in Chino, and Christie is in Rancho. Neither one of us want to commute.
    Brian

  7. #7
    burbanite
    Brian,
    have you thought about buying on a land contract? Lets you get in for little to no money and you set a term that then allows you to refinance it at that point or before, you are building equity as you go just as you would normally and all of my payments except the small deposit were tax deductible.
    With interest rates the way they are it is a good time to get in but the lending institutions have been backed up so much recently that some are not able to guarantee the rate as it is taking so long to process.
    Definitely talk to someone in your area familiar with land contracts, not many people have heard of them and I don't know why more don't do it that way - my G.F. is a mortgage lender and that is the way we did my house and hers. Great if you don't want to use a bunch of cash as a deposit.

  8. #8
    wsuwrhr
    Wow Burb,
    I think I need to grow an inch or two, or stnad on a chair. That went WAY over my head. I read it a few times and it still doesnt make sense.
    Are you talking about buying a peice of property with no house on it?
    Brian

  9. #9
    Badboat1
    pre-qualified is the way to go I,am buying 2 now for rental.Just got into it and it is the time for it.This interest rate will not last forever.And not a dime out of pocket either.
    BB1

  10. #10
    MagicMtnDan
    Location, location, location.
    Buy low, sell high.

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