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Housing question for the LJ brain trust
Jul. 9th, 2007 11:40 pmSince discovering our apartment building is being foreclosed on, we've been discussing other options. One thing I've been talking about was buying a house (either normally or at a foreclosure sale) and renting rooms to Fey and possibly/probably another friend or two to defray the mortgage costs. Basically the same setup like we ahve now and have had in the past, except the money going to a mortgage and not a landlord.
Today, Fey found this listing on craigslist:
$1325 / 4br - 3 bathroom old style brick with very cozy fireplace and jacuzzi tub
Beautiful old style brick with 2 master bedrooms and cozy fire place located on the Westside of Hardford thats ready for take over. The prior people that were living there could no longer afford the payments. What I'll have you do is take over the monthly payment, with no qualifications, and the home will in turn become yours. I have many properties in the area that are in this pre-foreclosed status. If your interested Contact [name] at [number]. The properties will be ready on or before Aug. 1.
now assuming for the moment that the property is of a type and condition that we're looking for. Does this way to buy a place sound like a good idea? Does anyone know what exactly it would entail to take over something like this?
Today, Fey found this listing on craigslist:
$1325 / 4br - 3 bathroom old style brick with very cozy fireplace and jacuzzi tub
Beautiful old style brick with 2 master bedrooms and cozy fire place located on the Westside of Hardford thats ready for take over. The prior people that were living there could no longer afford the payments. What I'll have you do is take over the monthly payment, with no qualifications, and the home will in turn become yours. I have many properties in the area that are in this pre-foreclosed status. If your interested Contact [name] at [number]. The properties will be ready on or before Aug. 1.
now assuming for the moment that the property is of a type and condition that we're looking for. Does this way to buy a place sound like a good idea? Does anyone know what exactly it would entail to take over something like this?
