Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

Large Filipino
my life now

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Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

OH! THAT's how this is done. Cool!

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Registered: May 2002
Location:
Posts: 8820

nice backstory.

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Registered: Apr 2001
Location:
Posts: 16728

If you have three years to take care of your balloon payment it shouldn’t be a problem babe. Just keep your credit good or fix what ever is wrong then keep it good. Do that now. That way if you don’t come up with the balloon payment you can either extend or refinance for a more conventional mortgage product.

How long have you lived there?
When was the last time you got a simple cma done?
Do you know what’s going on in your neighborhood as far as value goes?
When was the last time you checked your credit?
Do you know what your debt to income ratio is?
Who puts out the mortgage product you have?

These are all things you need to know. If you have some questions pm me I’ll do my best to help.
Mortgage companies would rather have their money than bother with foreclosing and having to sell your house, they take on all the liabilities then as well.

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Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

It's an owner carry. No mortage companies involved.Or banks. The original owner's a good man lucky me and will refinance with me if my options run out.
He dosen't want this house back. Too many bad memories for him.
But thanks 4B!

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Registered: Apr 2001
Location:
Posts: 16728

quote:

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Originally posted by Large Filipino
It's an owner carry. No mortage companies involved.Or banks. The original owner's a good man lucky me and will refinance with me if my options run out.
He dosen't want this house back. Too many bad memories for him.
But thanks 4B!

---

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Registered: Dec 2002
Location:
Posts: 16295

Listen to phorbs, LF. Owner financed can be a nightmare for the buyer in the end. Hell, what if he gets sick and needs the money NOW? Or, worse, dies and his heirs make demand?

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Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

Oh yea. I don't trust anyone. I'm working on my credit now thru CCC.
I got my 401K if I ever would need that and I got backing from towrofstgh and my other little bro not to mention my parents.
But I want to do this on my own. I have the backing but it would so rule if I can do this.
And yea,the house has gone up considerably in value and I've been paying a fixed rate of a ridiculously low amount.

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Last edited by Large Filipino on 03-06-2005 at 11:27 PM

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Registered: May 2003
Location: N. Texas
Posts: 3463

You rock dude!

Good story.

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Registered: Jul 2001
Location: China
Posts: 11795

I ride Shortline bus sometimes.

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Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

Man,that was a good racket,and a little sorry I left.
Actually,I FUCKING CRIED,MAN!
Nothing like working for a fleet where quality of work far outweighs speed of work.
Shortline has got to be one of the SAFEST buses to travel in bar none.
Only the best shit goes out there. It didn't matter if it took a week to get brakes in.
As long as it was done right.
700 buses in it's fleet.
18 fucking dollars an hour and I haven't even been there barely a year.
I could do a whole blog just on that experience alone.

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Registered: Jul 2001
Location: China
Posts: 11795

And the riders don't mind if that bus is an hour and a half late, so long as it gets them to the subway eventually (unless the workers are on strike).

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Registered: Feb 2004
Location: in colorado somewhere!
Posts: 26124

That's what was so fucked up about that place!
The boys always talked about every summer they go on strike and they all work with one mechanic that starts up his landscaping business every year. EVERY YEAR!
Man I miss those guys.

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