- NEW!
by BigDaddyBS on August 21st, 2009
Oh, make sure you read the fine print. $199 won't pay for most cars! And if someone is offering you a home that doesn't need a lot of work for that, you can be SURE that it's on an adjustable rate mortgage loan, and the price WILL go up. If not, be aware that while the price may go up, anyway, the house may need a LOT of work!
And, if you're talking about those infomercials where they say you can get a house at a tax auction for $199, while that's true, most of the time, you have to wait, as the current owners will have a certain length of time to pay off what they owe, and you may be left "out in the cold", so to speak - Someone got to use your $199 for that length of time, and even with interest, it's never as much as it would have been to put it in the bank or invest it in a bond or CD.
BTW: Here's a page and links that explains some of it: http://www.orangefrogproductions.com/ofp2s_shams_re_buying.shtml , and here's another about some of the infomercial sham artists: http://www.orangefrogproductions.com/ofp2s_shams_biz.shtml (check out those selling "real estate riches!")
Freezing foreclosures as banks review possibly fraudulent paperwork will further depress the sale of homes. Big impact or not?
by RosieGHM Jetpacker on October 12th, 2010
| 1 person likes this
home was bought in a sheriffs sale, went to move 2 cars owners said they were theirs!!
by al68 on October 21st, 2010
| 1 person likes this
To avoid foreclosure and to buy time to sell my home, file for a BK with the court and then cancel it before escrow closes?
by tomoney on December 15th, 2010
| 1 person likes this
Has anyone here ever foreclosed on a timeshare and had the resort company come after them legally for the balance after auction sale?
by saenzmurillo on August 13th, 2010
| 1 person likes this
When does a bank become both mortgagee and mortgagor?
by Franzelka on August 1st, 2010
| 1 person likes this
You're reading If these "distressed mortgage" companies can sell you a house that they foreclosed on for "$199 a month" , why couldnt they just let the people who were living in them before have it for "$199 a month"?
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!
Comments