Buying a home on a short sale can save a buyer money, but there are some factors to consider.
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Local Articles in Yorktown Heights
Getting preapproved for a loan before you go house hunting can make the process much easier, and prevent any last-minute mortgage surprises before you buy.
Avoid home buying pitfalls by following three simple steps to filling out your mortgage loan application: be accurate, omit nothing and tell it like it is
As rates fall and property values rise, learn whether refinancing would help you, and why
As with anything like this, some are scams, some legit but poorly organized or run, some legit. There are a few new companies set up by hedge funds just getting into rentals and into buying foreclosed properties in good shape, which they then rent or lease and will, in some cases, allow rent to partly apply to purchase.
Before you even think about this type of arrangement, you should have it THOROUGHLY reviewed by a lawyer, because once you get into it you will be stuck, and most likely there will be a LOT of terms restricting your investment. Considering the average person moves every 5 years or so for employment or family or medical reasons, and generally these sort of arrangements have to be carried through to completion to get ANY of your investment back out of the deal, it is generally a losing proposition for almost everyone - a fact the companies count on.
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