help on creative financing - Posted by Errol

Posted by Zidzi on July 22, 2001 at 23:51:26:

Congratulations to you and your wife (and your nine year old) on the birth of your twins.You have been doubly blessed.

Firstly, I would like to encourage you to dream with no apology. Most of us want to bring up our kids in the best neighborhoods, the best schools and put them thru’ the best colleges. It is not showing off Errol, it is being a loving parent.

Having said that do email me directly and let’s see what options will best help you realize your dream.

May God bless your little family

help on creative financing - Posted by Errol

Posted by Errol on July 22, 2001 at 19:58:19:

Here is my situation…

I am looking to buy a house since my wife and I recently had twins. I also have a 9 year old son, and we are cramped in our 2 bedroom apartment. We have searched for houses, and the ones we tend to like are approximately 40-50k more then what we are approved for. It’s not a question of trying to show off to others, but I would like to live in a safe area for my kids.

What can I do to help get myself into one of these homes? I have excellent credit, but my wife has a large loan from school. Other than that, her credit is fine as well.

I have some money saved, but not enough to for a approx. 150000 dollar house. Does anyone have some tips I could use to find ourselves in our dream home? Or should I back down and accept whatever I can afford now, with what the banks’ given me? To be honest, that’s not the way I wish to go.

Thanks in advance.

Re: help on creative financing - Posted by Paul_MA

Posted by Paul_MA on July 23, 2001 at 24:25:14:

  1. lease option a property
  2. buy a property subject to the existing mortgage