Posted by Ed Gilligan on October 21, 2004 at 21:50:29:
In Reply to: Re: House deposit posted by The Economist on October 21, 2004 at 17:20:36:
The economist sounds like the way to go. In the usa, you can pay an insurance on the 10% until the worth of the house gos up. I had to have 20% for a live in and 25% down for a rental. Now I can buy a rental with nothing down. The problem is everyone can get a loan and the peoople left are the worse renters, for the most part. There are some good ones. Foreclosers are the best value if you know construction or have a carpenter that you can trust. I am looking for a forecloser, but they are to much money. You don't want to buy if you can't cover the payments. I use to buy a rental and as soon as I could, reloan and get my down payment back so I could buy another rental. I did that with my house and bought a rental and ended up selling it to my daughter at cost, years later. They love the 3 bd house. Got to go.
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