Comments on: Have you seen this type of loan? http://ethxbiz.com/have-you-seen-this-type-of-loan Ethical Resources For Ethical Small Business Owners Sun, 08 Jan 2012 00:00:29 -0600 http://wordpress.org/?v=2.9.2 hourly 1 By: glenn http://ethxbiz.com/have-you-seen-this-type-of-loan/comment-page-1#comment-2267 glenn Mon, 09 Nov 2009 16:13:19 +0000 http://ethxbiz.com/have-you-seen-this-type-of-loan#comment-2267 I would not call it an easy transaction. I have tried something like this about a year ago. I had the seller carry a second lien and borrowed the first lien from a mortgage company. The mortgage company did not like that transaction at all. They wanted to see real money being used as a down payment. (They call it skin in the game) I would not call it an easy transaction. I have tried something like this about a year ago.

I had the seller carry a second lien and borrowed the first lien from a mortgage company. The mortgage company did not like that transaction at all. They wanted to see real money being used as a down payment. (They call it skin in the game)

]]> By: Leo F http://ethxbiz.com/have-you-seen-this-type-of-loan/comment-page-1#comment-2268 Leo F Mon, 09 Nov 2009 16:13:19 +0000 http://ethxbiz.com/have-you-seen-this-type-of-loan#comment-2268 Balloon payments were big in the 1980 when the saving and loans went broke and the government had to bail them out, because no one had saved the money when the balloon came due, thousands of people lost their homes. Just like now from all the ARM loans that are causing so many foreclosures now. What makes you think you will have a large amount of money 2 years from now when you don't have it now. Look at all the easy transactions that people got 3-4 years ago with 0 down and no credit and look what happened. Stay away from anything with a balloon payment or a ARM loan. Balloon payments were big in the 1980 when the saving and loans went broke and the government had to bail them out, because no one had saved the money when the balloon came due, thousands of people lost their homes. Just like now from all the ARM loans that are causing so many foreclosures now. What makes you think you will have a large amount of money 2 years from now when you don’t have it now. Look at all the easy transactions that people got 3-4 years ago with 0 down and no credit and look what happened. Stay away from anything with a balloon payment or a ARM loan.

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