- July 6, 2008 at 6:55 am #259574
The basic rules have not changed – 20% or more down, good history in paying rent, 6 to 12 months living expenses (including the mortgage payment) in the bank. That is just “good for you.” The “I love debt” score – if it takes that to buy a house then I don't want one.
We had a subprime loan – stated income, high interest, zero down. DON'T do it. walk away.
my former spouse was stupid and that loan (first and second mortgage) caused so much stress. i'm about at the point where I had rather pay cash for my house. Then it will not foreclose.
100% of foreclosures had a mortgage. I know rent is dumb and I don't like it, but it is better than a predatory mortgage or a credit score because I loved debt and loved paying interest.
On Tue, Jul 8, 2008 at 3:58 AM, Tony Shafer <email@example.com> wrote:
these lenders are dropping one by one…
20% down payment is an excellent down payment…
but, these rules are changing daily…
these books were written last year or the year before and these guys here coud be out of biz tomorrow…
— On Mon, 7/7/08, Lucy Anderson <firstname.lastname@example.org> wrote:
From: Lucy Anderson <email@example.com>
Subject: Re: Budget101.com : Questions about getting rid of all credit cards
Date: Monday, July 7, 2008, 5:29 PM
Um… not so much true.
Matthew 22:37 – Love the Lord your God with all
John 13:34 – Love one another
Matthew 28:19 – Go and make disciples
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