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No Credit Required: How to Buy a House When You Don't Qualify for a Mortgage
An updated guide to getting a mortgage and buying a home with no credit features information on no credit-check FHA assumable mortgages, VA mortgages, "owner will carry" financing, "lease with option," the 30/70 rule, and five legal but unconventional routes to no-credit home ownership. Original.
198 pages, Paperback
First published January 1, 1993
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Displaying 1 - 3 of 3 reviews
October 6, 2014
The entirety of my notes from reading this book are reproduced below.
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Options for no-credit-required real estate acquisitions:
1. Assumable mortgages
2. Seller financing
3. Lease w/ option to buy
4. 30/70 rule (you can get financing w/out credit if you'll put down 30% of purchase price)
5. Adverse possession (legal squatting - 5 years in CA; 30 years in TX)
6. Equity sharing
7. "Foreclosure to you" (structured resale of near-foreclosed or foreclosed property)
8. Quitclaim (use someone else's credit + a quitclaim to transfer the title)
9. En viager (reverse mortgage, life estate grant, etc.)
--
Options for no-credit-required real estate acquisitions:
1. Assumable mortgages
2. Seller financing
3. Lease w/ option to buy
4. 30/70 rule (you can get financing w/out credit if you'll put down 30% of purchase price)
5. Adverse possession (legal squatting - 5 years in CA; 30 years in TX)
6. Equity sharing
7. "Foreclosure to you" (structured resale of near-foreclosed or foreclosed property)
8. Quitclaim (use someone else's credit + a quitclaim to transfer the title)
9. En viager (reverse mortgage, life estate grant, etc.)
This entire review has been hidden because of spoilers.
September 19, 2022
Wonderfulfull advice
August 8, 2012
Now, I Too Know How to Buy a $$$ House With No Credit!!! No Money Down!!!
Displaying 1 - 3 of 3 reviews