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Posted by Ed Gilligan on March 27, 2004 at 03:28:51:
In Reply to: I'll never afford a house posted by What's a guy to do? on March 26, 2004 at 14:58:06:
I know how you feel. Been there, done that. When I was in the army reserve I was told I could get a no money down loan because I was in the army reserve. I went to the veterians adminsation to get my va loan. I was turned down because they didn't give no money down loans an army reservist. I said it is the law that you must give me a loan like that. They told me, we know it, but we will not give it. I then needed $35,000 down to buy this place. Well I got it by bowering it on my rental real state. A real bummer. Those people in the va are lawyers and such that can't make it on the outside of the govermant. I also made a loan on the house I was in and this one. You must learn to wheel and deal.
I would go to a realestate agent and ask about the Insurance loan program. We have it in the us. It costs about $20 extra a month. Talk to nore than one agent. There are also govermemt progrrams to help buy a house here.
Another way is to get a land contract with the owner and pay on it as you go. Have a lawyer help you draw it up. If the seller dies, you will have to prove your interest in the properity. If you can't, his heir will sell it out from under you. You want to get a morgage as soon as possible. Like in 5 years. good luck