December 1, 2007

How to buy a house with little or no money down, no qualifying, and bad credit

Are you losing your home in foreclosure?

You might want to know how you can still be a homeowner even if you lose your house.

It turns out that the current terrible house economics that are terrible for sellers are great for buyers. That means that even if you lose your own house in foreclosure, you can buy something else with little or no money down.

Here's how it works. If you lose your own house you have to decide if you want to be a homeowner still. If yes, then the issue is how to buy something else. Most people see buying a house as something that is done a certain way. They see what they like, they apply to the bank for a mortgage, and they get qualified and get a new mortgage.

But this is not the only way to buy a house. It is not the best way. In fact, most people buy a house in the worst way. It causes them huge personal liability if the value falls or they can't make the payments. And they must expose their credit history and financial situation to a bank who is regulated by the United States government that makes even a tiny lie actually a major crime.

So the answer is to buy your next house a different way.

1. No qualifying

2. No bank applications

3. No credit checks

4. Little or no down payment

5. No personal liability

Sounds too good to be true? Well it isn't. The secret is found in this simple truth: you can buy a house that still has someone else's mortgage loan on it.

But wait! I want you, right now, to enter your name and email address and I will rush you my acclaimed valuable insider's report, via instant download, Keep Your Home. You will also get information about lowering your mortgage payments without getting a new loan, cutting your credit card debts without bankruptcy while actually improving your credit, and buying a house with little or no money down and bad credit. I will always respect your privacy and you can unsubscribe any time.

 

If you buy a house that is worth $200,000, and the seller already has a $200,000 loan, you can simply have the seller sign a grant deed over to you, and you take over the payments.

You don't take over the loan, just the payments.

The difference is that the mortgage company is still the seller's mortgage company. You don't transfer or assume anything.

Notice that you didn't have to qualify and you didn't have to get a new loan.

Why would a seller sell this way? Because they want someone like you to take over their problem. You are solving their problem. Ideally, they would sell to someone who got a new loan or who assumed the old one. However, this is not an ideal time to sell a house. So the sellers are motivated and will often accept this arrangement. This secret of buying a house with no qualifying and little or no money down lets you be a homeowner and enjoy all the benefits of homeownership without good credit and with little or no money.

Permalink • Print • Comment

Trackback uri

http://www.mortgagereliefformula.com/12/01/how-to-buy-a-house-with-little-or-no-money-down-no-qualifying-and-bad-credit/trackback/

5 Comments on How to buy a house with little or no money down, no qualifying, and bad credit »

[…] can even buy another house with little or no money down and bad credit. With no bank qualifying. But that's another story. Right now I want to focus on the system […]

June 20, 2008

samuel farrington @ 8:23 pm:

Is buying a house with - no qualifing, no credit check ect. The same as the seller holding the mortgage?

Richard Geller @ 8:42 pm:

No it's not. The seller may have a loan with XYZ Bank. The seller gives you a grant deed or warranty deed so you are the new owner. The XYZ Bank loan remains on the property. You just start making the payments. You don't assume the loan. You may or may not give the seller money.

Seller isn't carrying back any paper in the typical deal.

–Richard

March 6, 2009

A-MAC @ 1:25 pm:

if I have a mortgage loan for $200.000 from XYZ bank,and I give a grant/warranty deed to the new owner and XYZ bank loan remains on the propety; how is the new owner not assuming the loan and does XYZ bank still have a lien on the property until mortgage is paid in full. I am a little confused. PLEASE EXPLAIN

The new owner is not assuming the loan. The old owner, the original borrower, is still on the note.

The loan runs with the borrower.

The lien, the security interest for the loan, runs with the property.

This is a fabulous way of buying and selling property. As a buyer, there is no qualifying and no liabliity. For the seller, they can unload a house that otherwise couldn't be sold in today's market.

warmly

–Richard

 

September 12, 2009

Debra Andrix @ 5:37 pm:

Who gets the tax break on the home.

Leave a Comment