Wednesday, August 10, 2011

New job and a new mortgage?

Can you swing owning two houses on a temporary basis? See if the owner is willing to sell the house to you on a contract or a lease to own situation. You would then pay the owner of the property instead of a bank. Once you have been in the house for a year and hopefully have sold your current house, you will be able to refi. See if they would go for a 3 5 or 7 year contract. With current market conditions they may be willing to do this, especially if they own it outright or are elderly and don't need the money to get into another property. Nothing to loose by asking. Try to meet with them or talk to them in person and you might be able to get a feel for if they would be willing to do so.

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