RE: What's Your Mortgage Compared To Your Income?
July 12, 2018 at 11:59 am
(This post was last modified: July 12, 2018 at 12:01 pm by The Grand Nudger.)
If you found a place with a market value of 1.2mil and it was in foreclosure @300k....it would be hilariously easy to get a bank to extend you the credit...and you;d still be paying the same loan. Its just hard to arrange because they go so quick, quicker than loan officers tend to work.
I did something similar here. I bought 3600ft2 and two acres for 25k outright, and then got a loan to cover the adjacent agricultural properties also in foreclosure.
I did something similar here. I bought 3600ft2 and two acres for 25k outright, and then got a loan to cover the adjacent agricultural properties also in foreclosure.
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