thank you to all the broke *** MoFo's in my town....

[bonesninja 5,000+ posts]

I went to my bank today to apply for a loan to buy my second duplex and guess what? Since there is a 62% foreclosure rate in my Fk'n town, all the banks are requiring 20% cash down payment or some other form of equitable collateral. The duplex i was trying to buy was $110,000, so they want $22,000 down plus closing costs and what-not. I just have that kind of cash readily available. So thanx to broke people, they are making it hard for me to make money....

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[stuckinok 5,000+ posts]

i'm broke so

Your Welcome!

 

[Charles Barkley 10+ year member]

can i rent?

 

[jmanpc 5,000+ posts]

ARMs ftmfw!

 

[bonesninja 5,000+ posts]

Must **** to be poor. Sorry do0d.

i'm not poor, i just don't have $25000 in liquid assets, and i haven't owned my current digs long enough to have that kind of equity yet

 

[ngsm13 5,000+ posts]

Yup, Ohio has one of the worst foreclosure rates in the entire U.S.

nG

 

[Randy Savage 5,000+ posts]

ARMs ftmfw!

 

[stuckinok 5,000+ posts]

Savage Lives?

 

[Johnny Drama 5,000+ posts]

I went to my bank today to apply for a loan to buy my second duplex and guess what? Since there is a 62% foreclosure rate in my Fk'n town, all the banks are requiring 20% cash down payment or some other form of equitable collateral. The duplex i was trying to buy was $110,000, so they want $22,000 down plus closing costs and what-not. I just have that kind of cash readily available. So thanx to broke people, they are making it hard for me to make money....

Is there enough equity in your first duplex to use that for a lean?

Then you would only need closing costs...

 

[bonesninja 5,000+ posts]

Is there enough equity in your first duplex to use that for a lean?
Then you would only need closing costs...

nope...only owned it for a year FTL

 

[Johnny Drama 5,000+ posts]

nope...only owned it for a year FTL

Hmmm...Try to look for government loans. Im sure that has to be something out there that will benefit you. There are government loans for almost anything.

 

[Macklessdaddy 10+ year member]

same shittt happened to me 3 months ago,long story short i had to get the money (12g's)out of my tsp but i only had to put like 5%

 

[Randy Savage 5,000+ posts]

Hmmm...Try to look for government loans. Im sure that has to be something out there that will benefit you. There are government loans for almost anything.

 

[bonesninja 5,000+ posts]

Has to be lien free money...or so they say. Gonna have to save it i guess, either that or borrow against my 401k , but thats a bad idea