Homeowner needs help!!! - Posted by Lisa M Williams

Posted by William Cain on July 17, 2001 at 13:35:15:

Seeing that you dont seem to have a good debt/income ratio and the fact that you are strugling to pay your current debt off, this may not be the best time for real estate investing. In order to purchase real estate and resell it in most cases you already have to have the money or you need to be able to get it from the bank. If your credit is as bad as you say that could be a problem, you need to get to the point where you are stable then think about real estate investment. You should also think about getting a financial advisor who might be able to show you how to decrease your debt. They might be able to find a way that you can get into real estate investing now.

William Cain
Macscon Financial

Homeowner needs help!!! - Posted by Lisa M Williams

Posted by Lisa M Williams on July 17, 2001 at 03:03:27:

Hi.

I am a homeowner…My 1st mortgage is 84,000. My house is worth about $105,000, but recently through a program in my city received a rehab loan which is adding a second of 34,000. My credit is horrible, my income right now is upside down and I would like to get into real estate investing in order to increase my cash-flow. Is this out of the realm of reality??? Please help!!!