Need creative Mortgage. - Posted by Bob
Posted by Bob on December 26, 2000 at 19:57:58:
I dont know if this is the right place to post this.
So I will post it in a few other places through out
Here is the deal.
I am currently in a lease/purchase as the buyer.
The home was built in 1999
It appraised in early 2000 for 265,000
I bought in on mid 2000 for 246,000
Between down payment and rental credit I have 20k in it.
The seller is motivated and will give me an additional 10k
off if I close is the next 3 months.
I also can put an additional 25k down.
So it would look something like this:
Sell price: 235,000.00
Balance of loan: 190,000.00
I am self employed and had a bk 2 yrs ago.
However my income is high.
I am looking for some one who would be interested in making
the investment. Any rate within reason and balloon out in 3 to 5 years.
Also any suggestions would be greatly appreciated.