I would like to know if it is realy possible to get realestate with no money down and no credit also is all this stuff i see on tv real
like buy for foreclosed homes or buying homes by paying back taxes
or is it all BS
It is possible to buy a home with no money down, sometimes they can roll your down payment into your final value of your home or go thru first time home buyers classes and they will help you with a down payment…buying foreclosed home is very risky, the owners have 1 year to come up with the money and then even if you have bought it they can buy it back and any improvements or such that you have done you WILL NOT be reimbursed for, so be careful, I would definitely go to a first time home buyers class go to a bank loan officer and talk with them and see where you stand. THere are lots and lots of programs out there its just a matter of finding them Good Luck!
Realestate????????????????????
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To get a property loan "no money down" you need one of two things.
1. Buy a property below market value. This means that the difference between what you paid and what its worth can be treated as a deposit or equity.
2. If you already have a property and its worth more than what you owe on it, this is also equity. You can use this equity as security on an additional property therefore borrowing with "no money down"
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It is possible to buy a home with no money down, sometimes they can roll your down payment into your final value of your home or go thru first time home buyers classes and they will help you with a down payment…buying foreclosed home is very risky, the owners have 1 year to come up with the money and then even if you have bought it they can buy it back and any improvements or such that you have done you WILL NOT be reimbursed for, so be careful, I would definitely go to a first time home buyers class go to a bank loan officer and talk with them and see where you stand. THere are lots and lots of programs out there its just a matter of finding them Good Luck!
References :
. I am old now and i have tried all the ways to make money in real estate. Nothing is easy. But it is fun so i want you to try it all.
Tax sales: If someone doesn’t pay their property tax for 2 years, a stranger (you) can pay it. If the owners don’t pay up in 3 more years, you go to court and get a deed to the property. You got it for 5 years tax (maybe $5,000) and the attorney’s fees ($2,000). I have paid the taxes on 40 properties. I waited 4 years and 11 months. Then the owners paid up. I got my money back. I have never gotten a property. But it was exciting… like buying a lottery ticket. YOu have no chance of winning but it gets your heart beating.
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