Posted on: 18th Dec, 2006 09:05 pm
this is me the guy who lost his house in the sheriffs sale.. is there any conceivable way a lender or mortgage company would buy and then let me buy back my house is there anyone who knows some company like that i feel so ignorant thus i spent money over $800 to people who were of no help to me lenders in chicago who dragged their feet while i was going thru all this foreclosure nightmare stuff , you guys are more honest than any so called foreclosure palces i dealt with..any body know where i can get a bad credit loan without puttin 800 dollars down for insurance that is another goofy question but i need some of that stuff they call money to pay some essential bills
Hi SJW,
Welcome back.
I can feel what you have gone through. It's hard though but try to forget the bad phase.
You can go for a lease-option by which you can rent a property for a fixed period of time, say, 1 or 2 years and then get the chance to buy it at an agreed price during the lease term. For this, you need to put into a low amount of up-front cash.
What I like about this process is that the tenant has the right to purchase the property during the lease term. I think a real estate agent can help you find out sellers offering lease-option. But see that you don't end up paying more and getting no help from the agent.
Thanks
Welcome back.
I can feel what you have gone through. It's hard though but try to forget the bad phase.
You can go for a lease-option by which you can rent a property for a fixed period of time, say, 1 or 2 years and then get the chance to buy it at an agreed price during the lease term. For this, you need to put into a low amount of up-front cash.
What I like about this process is that the tenant has the right to purchase the property during the lease term. I think a real estate agent can help you find out sellers offering lease-option. But see that you don't end up paying more and getting no help from the agent.
Thanks
You can go for a bad credit loan but bad credit lenders often ask for higher rates of interest. So, just think over as to whether you can afford to pay higher interest or to what level you can afford. For this, you need to talk to some lenders and gather loan related information.