Thanks Bill. Pretty comprehensive info you provided.
Quote:
On 2004-09-18 16:09, BillGatten wrote:
That depends upon what you mean by "subject -to." A subject-to can be a Wrap, Equity Share, Contract for Deed, Lease Purchase, Land Trust Transfer, Silent Second, etc...there are a dozen permutations of the subject-to concept out there..
If you're asking whether or not there will be a plethora of sellers willing to dump their properties while keeping their financing in place and deferring receipt of their equity for 5-6 years, the answer is YES. When foreclosures start climbing, affordability starts dropping, interest rates start rising, loan parameters start tightening and exodus exceeds immigration...then we are in for a fabulous real estate market if we are the ones who know how to:
Freeze old interest rates
>> Are you talking about current holdings? The interest will go up soon so when we buy during market down, it will be more than now.
Accommodate those with low or no down payment
>> l/o
Avoid the Due-on-sale clause
>> Can you explain on this, sub2 we are talking about?
roperty from creditor claims, tax liens and lawsuits
Make money on marginal-equity or over encumbered property
Enable income tax benefits for tenant buyers without a title transfer, etc.
>> How please?
Be able to evict defaulting “tenant buyers” versus having to foreclose on them.
If you're wondering about whether or not there will be plenty of disenfranchised would-be buyers who would dearly love to live in those houses with the old 5-6 percent interest rate mortgages, minimal or no down payment and no credit application or loan approval...then the answer is another big ol’ YES.
So is it a good time to invest now or wait? I think about saving a lot of money, gain experience/knowledge now and be better off when the market is down with f/c, buy market.
<font size=-1>[ Edited by BillGatten on Date 09/18/2004 ]</font>
Thanks Bill. Pretty comprehensive info you provided.
Quote:
On 2004-09-18 16:09, BillGatten wrote:
That depends upon what you mean by "subject -to." A subject-to can be a Wrap, Equity Share, Contract for Deed, Lease Purchase, Land Trust Transfer, Silent Second, etc...there are a dozen permutations of the subject-to concept out there..
If you're asking whether or not there will be a plethora of sellers willing to dump their properties while keeping their financing in place and deferring receipt of their equity for 5-6 years, the answer is YES. When foreclosures start climbing, affordability starts dropping, interest rates start rising, loan parameters start tightening and exodus exceeds immigration...then we are in for a fabulous real estate market if we are the ones who know how to:
Freeze old interest rates
>> Are you talking about current holdings? The interest will go up soon so when we buy during market down, it will be more than now.
Accommodate those with low or no down payment
>> l/o
Avoid the Due-on-sale clause
>> Can you explain on this, sub2 we are talking about?
roperty from creditor claims, tax liens and lawsuits
Make money on marginal-equity or over encumbered property
Enable income tax benefits for tenant buyers without a title transfer, etc.
>> How please?
Be able to evict defaulting “tenant buyers” versus having to foreclose on them.
If you're wondering about whether or not there will be plenty of disenfranchised would-be buyers who would dearly love to live in those houses with the old 5-6 percent interest rate mortgages, minimal or no down payment and no credit application or loan approval...then the answer is another big ol’ YES.
So is it a good time to invest now or wait? I think about saving a lot of money, gain experience/knowledge now and be better off when the market is down with f/c, buy market.
<font size=-1>[ Edited by BillGatten on Date 09/18/2004 ]</font>