I have A Great Deal, Money for DownPayment but, - Posted by Anthony

Posted by Michael Morrongiello on December 08, 2000 at 21:34:54:

I am not sure what you have found? Perhaps you can elaborate for the benifit of us all with some more of the details here?

  1. What type of property, location, condition, etc.?

  2. What is the property worth “as is”? and then fixed up?

  3. What needs to be done to the property so that it can acheive its “fixed up” value?

  4. What amount of cash do you have to put down?

  5. Did you say the seller owes $15K in debt agaist the property, this is not 100% clear?

With some detailed feedback to these issues, one can better determine IF in fact this is a “Deal” or a “Dog” and better prescribe a mode of attack here

To your success,

Michael Morrongiello

I have A Great Deal, Money for DownPayment but, - Posted by Anthony

Posted by Anthony on December 08, 2000 at 19:50:15:

Hi everyone,
I have found a good deal on a house, have saved up money for downpayment and everything has been going smooth on my part but only one problem (as it seems), I did not file for income tax last year and all the credit union and banks I went to requested INCOME TAX RETURN proof. I don’t have them because I did not file last year the seller will get a better offer from someone else if I don’t move fast enought.
Sell is willing to finance 15% (what he owns) and a $5k after 1 year and $10k after 2years (3eryear).
Now, How can I get the rest of the money or a loan.

Re: I have A Great Deal, Money for Dow, - Posted by dewCO

Posted by dewCO on December 09, 2000 at 19:30:14:

So the obvious answer would be for you to FILE NOW. Then you will have a copy of your 1040 for 1999 to use!!! The lender won’t know if yuo filed on time or not, and it doesn’t matter as long as it’s filed. If you aren’t going to file, then it may be too bad. And did a lender require your 1040s or your W2s. Most just need your W2s unless you are self employed.