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Dan769
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I can answer for the beautiful SugarCheryl. She is not a coin collector, she is my Girlfriend. She frequented the forum around the same times I did. She got to know some of the people and made some friends. I shifted concentration from coins to working (Getting rid of debt and building wealth) and that was it. Neither of us "frequent" much anymore.

 

She is safe and well. We are currently buying a house. Keep an eye on the community forum, I will try to give regular updates.

 

It sure is cool to know we have friends all over the world that may still think of us every once in a while.

 

Hope everyone is having a great day, weekend, year, life!

 

-Bobby

 

Good stuff Bobby, Sugar & Sylvester. Glad everyone is doing well. life does sometimes get in the way of coins, but you always find your way back.

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She is safe and well. We are currently buying a house. Keep an eye on the community forum, I will try to give regular updates.

this is a very interesting time to be buying a house ...

 

Not really. Prices are coming down because of all the mortgage problems. We just had our fifth child in February, and closed our Contract for Deed on July 1. Personally, I would do everything possible to keep the banks out of the whole deal 9thus the reason for conducting a Contract for Deed rather than a Mortgage). We have payments of $515 a month for the next 25 years (unless we prepay). Property tax runs to under $30 monthly, and homeowner's insurance is roughly $50 for the policy limits we chose. That's still under $600 a month

 

We conducted the Contract at 7% fixed annually, while most banks are sitting at 8%. Contracts can be more easily customized as well. So we have proper default clauses for the seller and redemption clauses for us. So even if we default, we still have the ability to redeem ourselves and put hte contract back in order. If we completely default, there is no foreclosure. The Quit Claim simply executes and the property would default back to the seller. Foreclosures do have quite a bit more liability behind them.

 

It's the perfect time to buy a house, especially if you completely cut out the middleman. Oh yeah, execution of the Contract and all legal fillings was only $700.

 

Whether the economy is rocking or rocky, Contract for Deed is much better than a Mortgage any day.

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this is a very interesting time to be buying a house ...

Not really. Prices are coming down because of all the mortgage problems. We just had our fifth child in February, and closed our Contract for Deed on July 1. Personally, I would do everything possible to keep the banks out of the whole deal 9thus the reason for conducting a Contract for Deed rather than a Mortgage). We have payments of $515 a month for the next 25 years (unless we prepay). Property tax runs to under $30 monthly, and homeowner's insurance is roughly $50 for the policy limits we chose. That's still under $600 a month

 

We conducted the Contract at 7% fixed annually, while most banks are sitting at 8%. Contracts can be more easily customized as well. So we have proper default clauses for the seller and redemption clauses for us. So even if we default, we still have the ability to redeem ourselves and put hte contract back in order. If we completely default, there is no foreclosure. The Quit Claim simply executes and the property would default back to the seller. Foreclosures do have quite a bit more liability behind them.

 

It's the perfect time to buy a house, especially if you completely cut out the middleman. Oh yeah, execution of the Contract and all legal fillings was only $700.

 

Whether the economy is rocking or rocky, Contract for Deed is much better than a Mortgage any day.

 

 

This sounds great,, but what percentage of home sellers in the U.S. are willing to finance the deal,, especially since most don't own thier home free and clear. It would essentially require most sellers to finance both the amount owed on thier current home, in addition to thier next home,,,, too messy. Opportunity to buy from sellers willing to finance is there, but very tough to find,,,,

 

A land contract (sometimes known as a “contract for deed” or an “installment sale agreement”) is a contract between the owner of a property and a person who wants to buy the property for an agreed-upon purchase price. Under a land contract, the seller retains the legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership. The sale price is typically paid in periodic installments....

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