2007-07-07 14:59:34 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Continue to save for a larger downpayment, or try to locate seller who will agree to owner financing, this way you cut the mortgage companies out all together, and save your self tons of interest dollars.
Last but not least, find a roomate or rent a room out.
2007-07-07 15:08:02 · answer #1 · answered by theCATALYST 5 · 1⤊ 1⤋
How does owner financing save you on interest ?
Most sellers wouldn't finance as cheaply as a lender.
Ones that do often want higher interest.
If you are saying that you have already bought a home and cannot pay the mortgage payment, you should talk to a real estate attorney and find out your legal options.
Unfortunately, easy financing that the government allowed, means that many people who should have never bought a home did, which is going to lead to the biggest housing crisis in the history of this country.
Put your seatbelt on and get ready for a rocky ride.
Foreclosure will be the only option for hundreds of thousands of people, sad but true.
2007-07-07 22:21:48 · answer #2 · answered by CommonCents 4 · 0⤊ 0⤋
Rent
2007-07-07 22:02:01 · answer #3 · answered by Jeff the drummer 4 · 1⤊ 1⤋
You better not try to buy one, it's a loosing proposition, it's the single most expensive and most important thing you can do. You can screw up your credit for life going about it wrong.
2007-07-08 08:21:00 · answer #4 · answered by cowboydoc 7 · 0⤊ 1⤋
Rent or perhaps rent to buy.
2007-07-07 22:02:38 · answer #5 · answered by al 6 · 1⤊ 1⤋
rent
2007-07-07 22:02:01 · answer #6 · answered by griffyn10941 5 · 1⤊ 1⤋
Don't buy one.
2007-07-07 22:01:57 · answer #7 · answered by Bobyns 4 · 1⤊ 1⤋