I saw a house for sale its says owner is open to creative financing?

Dec 04, 2007 by Debbie V | Posted in Renting & Real Estate

owner is willing to hold a second mortgage of roughly 65k buyer only needs to bringin approx 109,000.
what does this mean exactly?
The house is on the market for $170k
do you think this is a good way to buy a
house?

This isn't fraud. It's just like having a second mortgage on the home. You get a mortage for $109,000 and you have a second mortgage for $65,000. You make two seperate payments each month. One to the mortgage company you chose, and one to the previous

Meghan | Dec 04, 2007

this means the owner is willing to keep everything in his or her name and have you make all the payments under their credit score for the lower rate
GG | Dec 04, 2007

Financing mortgage points if we plan to refi soon?

Mar 14, 2008 by riotbrrd | Posted in Renting & Real Estate

Maybe someone can help me here. We're lining up financing for a home purchase, and for various reasons, we expect to refinance sometime in the next 1-2 years.

Because things are so crazy in the mortgage market right now, we can't find

Well, there are 2 types of Points. upfront Point. Thats what your talking about , and back end points, that are in your rate that you dont know about> If you talk logical witha lender, just tell them, i need every penny of my equity and I dont want

Antwan DUBBA U | Mar 14, 2008

Darden School of Business: The Financial Market Crisis Panel

A panel of Darden faculty offers context and explanations for the ongoing turmoil affecting the financial markets. During their discussion it ...

Mortgage Fraud Cases Climbing

03.10.11

The Financial Crimes Enforcement Network reports that mortgage fraud cases have surged 88% over the previous year to 29,558, although many of these cases have been filed based on criminal acts committed in prior years. Experts suspect this may be an indicator that the number of cases will jump even further once the crimes of 2011 finally come to light. The primary types of mortgage fraud reported are debt-elimination scams, falsifying information on loan applications and identity theft. The motivation for these crimes is being fueled by a harsh U.S. real estate market where interested buyers can’t overcome credit restrictions and many that do find themselves unable to pay their mortgages. For more on this continue reading the following article from The Street .

Source: NuWire Investor

creative mortgage financing - Bookshelf


Understanding the Law
848 pages 		Understanding the Law

Creator: Donald L. Carper, John A. McKinsey, Bill W. West | Business & Economics - 2011-01-18
When creative financing is agreed to and an existing mortgage is assumed, institutional lenders normally will charge an assumption fee and increase the ...
Publisher: South-Western Pub
Making Money in Real Estate, The Canadian Guide to Profitable Investment in Residential Property, Revised Edition Making Money in Real Estate, The Canadian Guide to Profitable Investment in Residential Property, Revised Edition

Creator: Douglas Gray | Business & Economics - 2010-01-08
Creative Financing Sometimes the only way to make a particular deal work is with ... bank mortgage, for example, would be considered traditional financing. ...
Publisher: Wiley
Creative home financing, you can buy a house, condominium, or co-op in today's market
287 pages 		Creative home financing, you can buy a house, condominium, or co-op in today's market

Creator: Douglas M. Temple | Business & Economics - 1982-09-01
A major change is creative financing — whereby the seller becomes a lender. More on this later; first we must review the basics of mortgage financing. ...
Publisher: Coward McCann

What's Ahead For Mortgage Rates This Week ... - Creative Mortgage

by Mark

Mortgage markets deteriorated last week as optimism for a Greek rescue package increased, and as U.S. consumers showed that, despite falling income levels, spending will not be slowed.

As reported by the government, household income dropped in August, falling 0.1 percent and marking the first monthly dip since 2009 . Yet, consumer spending still rose, tacking on 0.1 percent. Consumer spending accounts for 70 percent of the U.S. economy.

...

Read more...

creative mortgage financing - News


Mortgage Fraud Cases Climbing
NuWire Investor - Oct 03, 2011
"But we also continue to see indications of ongoing mortgage fraud activities," Freis adds. "FCEN's report released today raises awareness of the common scams that homeowners and lenders may encounter when arranging or modifying home financing.

It's time to prove you are also an iron chancellor, Mr Osborne
The Guardian (blog) - Oct 08, 2011
Wrecklessness and incompetance - via PFI, mortgage lending, welfare spending, student loans - may lead to the sinking of the UK. You only have to see the current BS over 9K a year student lending that students "Do not have to pay it back if they cannot

Home ownership suffers biggest drop since Great Depression
Seattle Post Intelligencer - Oct 07, 2011
Short sales are sales of a house for less than the mortgage balance as part of an agreement with the lender to avoid foreclosure. Nevada had the nation's highest rate of foreclosure starts, 2.25 percent of mortgages, in the second quarter of 2011,

Real estate professionals: The Investor
Tri State Defender - Sep 29, 2011
Real estate professionals: The Investor CM: What type of creative financing is available for investors? MM: There is not much creative financing out there these days. If you can get some seller financing or hard money lending that will be about creative as you can get. Most mortgage

DeJongh signs Hotel Development Act into law
Virgin Islands Daily News - Oct 08, 2011
The Hotel Development Act allows hotel developers to use a portion of their hotel occupancy and casino taxes to repay their long-term loans. Developers say the legislation will help them obtain financing, which would help several stalled resort

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