Posted by lesgee on August 15, 2002 at 01:33:03:
People rarely respond to holding the note/subject to because their Debt to Income Ratio is so high the can’t risk having anything like that on their credit.
Les: what does that mean? Which people? Unclear what you are asking.
No Equity - Posted by Chris June
Posted by Chris June on August 14, 2002 at 15:30:25:
We buy and sell homes on a LPO basis. We recieve several calls from people with little to no equity that want out. They have no cash so paying us to take the home is usually not an option. Often the home was purchased at retail so there is little to work with. People rarely respond to holding the note/subject to because their Debt to Income Ratio is so high the can’t risk having anything like that on their credit.
We unfortunately turn these people away. Is there anything we can do? We hate to let money walk out the door. Any advice will help.
Thanks