Posted by phil fernandez on January 03, 1999 at 19:14:26:
First off take a deep breath.
Now, there are fewer and fewer non qualifying loans out there. After all we are at least 10 years down the road from 1989. That does not mean there are not any of these loans out there. You just can’t make a living on this one technique.
Why will sellers hold mortgages, when bank money is plentiful and cheap. Easy, the sellers HAVE to sell. Not next week, not tommorow, but now. They are motivated sellers. Motivated sellers need you to solve their problem. They will hold a mortgage if you can buy their property and solve their problem.
Creative financing will work anywhere. Why is New York Special?