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re: Unwarranted condo complexes - financing options
Posted on 4/30/13 at 1:13 pm to baytiger
Posted on 4/30/13 at 1:13 pm to baytiger
run away quickly. no bank will touch a unwarranted condo..a credit union might do an adjustable balloon loan but unwarranted condo's are a big problem with fannie and freddie.
1
Posted on 4/30/13 at 1:21 pm to hawkeye007
Dude, I got a 30 yr 3.9% adjustable- it isn't that bad. I'm fixed for 7 years, at that point if it goes up, I can either pay it off (will be a rental by then- not planning on living there long term) or sell for way more than the foreclosure price I paid.
Not saying it is definitely a good deal for him but depending on how cheap it is compared to what it is worth or if he plans on using it as a rental property, it still might be a decent deal.
Not saying it is definitely a good deal for him but depending on how cheap it is compared to what it is worth or if he plans on using it as a rental property, it still might be a decent deal.
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