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Ribbon Mortgage

Posted on 2/28/21 at 4:36 pm
Posted by RandySavage
Member since May 2012
30814 posts
Posted on 2/28/21 at 4:36 pm
Anybody bought a home using Ribbon or one of these companies that buy your home for you if you don't have enough to make a cash offer and then you buy it back after selling your house, for a fee of course.

Are they legit?
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
118907 posts
Posted on 2/28/21 at 4:39 pm to
Sounds like a terribly expensive mistake
Posted by TigerIron
Member since Feb 2021
3021 posts
Posted on 2/28/21 at 4:57 pm to
(no message)
This post was edited on 7/25/22 at 4:25 pm
Posted by RandySavage
Member since May 2012
30814 posts
Posted on 2/28/21 at 5:06 pm to
quote:

Seems like it would only be a good idea in a really hot seller's market, where cash offers give you an advantage.


So like right now.
Posted by RexKramer
Chicago
Member since Nov 2020
411 posts
Posted on 2/28/21 at 5:11 pm to
Can you qualify on your own income with a traditional loan and make the sale contingent?

If so, do that.
Posted by RandySavage
Member since May 2012
30814 posts
Posted on 2/28/21 at 6:09 pm to
They already have 6 over asking offers without contingencies. That's the whole appeal of going with a company like Ribbon.
Posted by lowspark12
nashville, tn
Member since Aug 2009
22365 posts
Posted on 2/28/21 at 6:26 pm to
quote:

They already have 6 over asking offers without contingencies.


Who’s telling you this?

Wanna know if a real estate agent is lying?... their lips are moving
Posted by RexKramer
Chicago
Member since Nov 2020
411 posts
Posted on 2/28/21 at 6:47 pm to
No, don't do it. Rates went up last week almost a point, hang tight and put in an offer thats fair and see what happens.
Posted by TigerIron
Member since Feb 2021
3021 posts
Posted on 3/1/21 at 8:59 am to
(no message)
This post was edited on 7/25/22 at 4:25 pm
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