Is it really possible to buy a house with nothing down or bad credit!?!
What bank in their right mind would loan to someone with horrible credit!?!
2006-07-13 16:06:44 · 4 answers · asked by columpro25 2 in Business & Finance ➔ Personal Finance
It is possible to buy houses with no money or horrible credit. You just have to study and investigate the ways to do it. Kiyosaki is more of a big picture guy. Banks and lending instutions will lend to someone with horrible, slow or no credit. The key is the deal. If the house is worth $299,000 but your price to buy is $75,000 then your credit does not matter. You can even get terms where there are no payments for 6 months after you get the house.
Good Luck
2006-07-13 17:27:19 · answer #1 · answered by teenriodoll 3 · 0⤊ 0⤋
In the books I have read, Kiyosaki advises people NOT to buy houses that way. I've never heard him talk about overcoming bad credit in that way either. I think you've got your people mixed up.
2006-07-13 16:10:05 · answer #2 · answered by You'll Never Outfox the Fox 5 · 0⤊ 0⤋
banks are so willing to write what most people consider bad business because in the end they will come out. If you get in over your head then your credit will be worse and in the end the industry will make more. If they forclose then they make more and if they lose money then they can write it off.
2006-07-13 20:07:27 · answer #3 · answered by mallicoatdd 4 · 0⤊ 0⤋
maybe not a bank,but individuals would:well maybe a bank if the property is an albatross
2006-07-13 16:10:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋