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Buy a Home for $100?
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Author | Message |
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Carlos Send message Joined: 9 Jun 99 Posts: 29828 Credit: 57,275,487 RAC: 157 |
My business is real estate investment. I just saw this about HUD offering to finance homes for $100 down and they pay most of the closing costs plus will give you extra money to repair the house. If you live in any of the listed states, go look for a new home. This is a killer deal, and it's real from everything I can tell. HUD $100 down home loans |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
My business is real estate investment. I just saw this about HUD offering to finance homes for $100 down and they pay most of the closing costs plus will give you extra money to repair the house. If you live in any of the listed states, go look for a new home. This is a killer deal, and it's real from everything I can tell. Uhhhhh....isn't this the kind of thing that got us into this mess to begin with? "Freedom is just Chaos, with better lighting." Alan Dean Foster |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Mark, You took the words right out of my mouth. [/quote] Old James |
Blurf Send message Joined: 2 Sep 06 Posts: 8962 Credit: 12,678,685 RAC: 0 |
Buy it, fix it up & sell it |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
This would be nice for someone like Me as It will do repairs, where $100 is a lot of Money, But I'll stick with the USDA Rural section 502 Direct Mortgage as I'd need no down payment due to My income and I can buy what ever type of modest home that I'd want, plus not worry about the length of the escrow period as the USDA is flexible and have a 30 year fixed mortgage, I just need to save money for moving and utility deposits($1291 I think) and this is cheaper than renting which outside of the generosity of the owner here I really don't have money for, If I had to pay $599 for rent(which is the going rate locally for a 2 bedroom apartment), I'd starve as $830.40 does not go very far anymore and the Federal Benefit Rate should be doubled to $1348 a month from $674 a month and being I live in CA, No person getting SSI in CA gets Food Stamps due to an argument between the state of CA and a part of the USDA and SSA does what the USDA says in the case of Food Stamps, I am getting a 3.6% COLA for 2012 of $25 a month(based only on the $674 FBR). If one thinks what I get is adequate then one doesn't know what one is talking about, as one has not been existing on this small amount of money as have to try and do, I speak from experience, not from hype. Besides California isn't a part of this HUD pilot program as only 2 of 4 of HUDs areas are covered, I doubt one would be approved for a mortgage like those on Wall Street would, Government is not out to make a profit, just serve the citizens of the USA. Right now I have to try and use only $75 for food which means no dinner for Me(Beef Patties and Veggies usually have taken up almost half My monthly food budget normally or $57.87 a month, now that's at $0.00 a month), just so I can get other things done, like buying new sheets for My bed, blanket, maybe repairing My Car's A/C, replacing or repairing a PC psu(a cable end really), new clothes in 6XL(used clothes are for skinny people, My clothes are 5 years old now and some of My favorite shirt have holes in them and two of My 3 pairs of Jeans need sewing on the right front pants pocket, rips or holes, their old too, soon enough I'll have to get out the sewing thread and a needle to do some repairs once again), pay property taxes($200), pay for the DMV fees on My car($107 a year), etc, etc... This month I have to get this stuff: Zipties(100-8", $6.07), CoffeeMaker(Percolator, I hate drip coffee makers as I've had 3 die on Me), eggs(1 can powdered, saves gas here, 12.5 mile trip to the market one way, can delivered costs $23.48), nutella($16.99 for 5 13oz jars, does not contain peanuts), tea($11.61 for a months worth of decaf tea), GTX295(obligated), 16GB ram(not sure about this one, maybe, maybe not). Next month It may be like so: Flashlight, 4-45oz Ragu(spaghetti, yum, yes I can cook, nothing fancy, but I can do the deed, done dirt cheap), weatherstripping(door, stick on foam), grills for swamp cooler(normal and winterizing as the current one is broken and the park will not replace It), Primer(Krylon spray), dry cat food(Science Diet 7lbs, Grace loves this and the Shelter fed Her this too), Queen sized fitted Sheets(My current ones are torn) and a king size blanket(as I have only one full blanket and It needs repairs). In January it's Property taxes of $200 and food for Me... Then save(or try to at least) $258.20 for 5 months... The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
Carlos Send message Joined: 9 Jun 99 Posts: 29828 Credit: 57,275,487 RAC: 157 |
My business is real estate investment. I just saw this about HUD offering to finance homes for $100 down and they pay most of the closing costs plus will give you extra money to repair the house. If you live in any of the listed states, go look for a new home. This is a killer deal, and it's real from everything I can tell. Yes. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30646 Credit: 53,134,872 RAC: 32 |
Mark, You took the words right out of my mouth. And BINGO was his Name-O |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
My business is real estate investment. I just saw this about HUD offering to finance homes for $100 down and they pay most of the closing costs plus will give you extra money to repair the house. If you live in any of the listed states, go look for a new home. This is a killer deal, and it's real from everything I can tell. I think HUD isn't about to lend to just anyone, but then their not a bank, so No this is not a derivatives item which is what caused the housing bubble as done by Wall Street firms like Goldman Sachs... That is the reality vs the talking point smoke screen laid down by Wall Street and Big Oil's bought and paid for shills... The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
I understand the basic premise of the program is to make it easier to get already foreclosed homes back off the market, but if they make it too easy, it's only gonna be wash, rinse, repeat cycle. Brings to mind some more words... 'Those who do not learn from history are doomed to repeat it.' "Freedom is just Chaos, with better lighting." Alan Dean Foster |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
I understand the basic premise of the program is to make it easier to get already foreclosed homes back off the market, but if they make it too easy, it's only gonna be wash, rinse, repeat cycle. If someone handed Me the keys and the deed to a house/mobilehome in Adelanto that didn't need repairs, I wouldn't mind, as It would make My housing expenses go down a lot from near 50% to almost 0%, fat chance of Me getting a $26,000 mobilehome plus closing costs, I need a USDA section 502 rural direct mortgage, otherwise I'm out of luck. I'd still need to save up to move there of course and It would take months for Me to do. The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
from the article it looks like the only people that can use this are the actual owner/loan defaulter/occupant of the home that is due to be foreclosed on. I don't see an upside for anyone considering that most of the people couldn't afford the payments in the first place. In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
Carlos Send message Joined: 9 Jun 99 Posts: 29828 Credit: 57,275,487 RAC: 157 |
I read the enabling regulations. The program is open to anyone, citizenship not required, subject to underwriting, who want to purchase and occupy as their primary residence any home already owned by HUD. That is really bad English but I just said in one sentence what took HUD about 14 pages. |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
I read the enabling regulations. The program is open to anyone, citizenship not required, subject to underwriting, who want to purchase and occupy as their primary residence any home already owned by HUD. That is really bad English but I just said in one sentence what took HUD about 14 pages. I sure wish It was here in California, I'd try for It then... The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
I read the enabling regulations. The program is open to anyone, citizenship not required, subject to underwriting, who want to purchase and occupy as their primary residence any home already owned by HUD. That is really bad English but I just said in one sentence what took HUD about 14 pages. Citizenship not required?????? Aren't those US citizen's tax dollars involved here???? WTF? "Freedom is just Chaos, with better lighting." Alan Dean Foster |
MOMMY: He is MAKING ME Read His Posts Thoughts and Prayers. GOoD Thoughts and GOoD Prayers. HATERWORLD Vs THOUGHTs and PRAYERs World. It Is a BATTLE ROYALE. Nobody LOVEs Me. Everybody HATEs Me. Why Don't I Go Eat Worms. Tasty Treats are Wormy Meat. Yes Send message Joined: 16 Jun 02 Posts: 6895 Credit: 6,588,977 RAC: 0 |
the Federal Benefit Rate should be doubled to $1348 a month from $674 If someone handed Me the keys and the deed to a house/mobilehome...It would make My housing expenses go down a lot...to almost 0% Holy Moly Folks. Here we have The New DEM/Lib Plan from Oblahblahblah, your Prez and Messiah. Everyone gets a House For Free and Everyone gets their Income Doubled. Surely a Vote Getter Friends. Even The Repugs and TeaPottiers will sign up/Vote for Oblahblahblah aka The Speechifier with That Deal. This Deal will surely bring us Out of The Depression and Back to Prosperity For ALL. Holy Moly Again. Wow. Dull, but gunna get me a Free House and Double My Present Income. YeeeeeeeeeeeeHaaaaaaaaaaaaaw Dull May we All have a METAMORPHOSIS. REASON. GOoD JUDGEMENT and LOVE and ORDER!!!!! |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
Yeah, this and the student loan relief bits just pushed up by das Bummer.... All election year grandstanding at taxpayer expense designed not to boost the economy, but to keep the corrupt politicians currently in office strapped into their seats. "Freedom is just Chaos, with better lighting." Alan Dean Foster |
bobby Send message Joined: 22 Mar 02 Posts: 2866 Credit: 17,789,109 RAC: 3 |
I read the enabling regulations. The program is open to anyone, citizenship not required, subject to underwriting, who want to purchase and occupy as their primary residence any home already owned by HUD. That is really bad English but I just said in one sentence what took HUD about 14 pages. I imagine permanent residency is required, and folks on permanent residency visas (aka green cards) are subject to US taxes. Yes, there is "taxation without representation" in the US today ;) I think you'll find it's a bit more complicated than that ... |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
I meant one or the other, Ok DNV? The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
zoom3+1=4 Send message Joined: 30 Nov 03 Posts: 65745 Credit: 55,293,173 RAC: 49 |
I read the enabling regulations. The program is open to anyone, citizenship not required, subject to underwriting, who want to purchase and occupy as their primary residence any home already owned by HUD. That is really bad English but I just said in one sentence what took HUD about 14 pages. Yeah, there sure is, especially when the elected representative wants one to listen and only talks to those that tow the tea-party(=astroturf) line... The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's |
celttooth Send message Joined: 21 Nov 99 Posts: 26503 Credit: 28,583,098 RAC: 0 |
There is a commercial on TV up here that says Canadians can clean up buying cheep homes in the lower 48 states. It looks too good to be true. It also looks kind of heartless. |
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