Posted by Ed Garcia on January 03, 2001 at 09:23:50:
When ever you cut a deal, you always have to ask yourself, would you take the deal being offered. If I were in their position I would be concerned about two things. (1) What if something happened to you? (2) What if you re-nig (don’t do it, stop paying, flew the coop)?
You don’t tell us the price difference between the house that they have sold you and the one they are buying. Chances are, because they are of retirement age, they are down sizing, and would be able to pay off their house in Palmdale, and have cash left over.
You haven’t convinced me, so back to the drawing board.
By the way, I do have some ideas that I think could work, but I won’t give them to you.
The reason Raul, is because you’re putting these people at risk, and in jeopardy of losing a life long asset. Raul, even if you are doing this with good intention, you are putting these folks at an unnecessary risk. I have a soft spot for older people, maybe it’s because I’m getting there. Raul, I will give you credit for creativity, and encourage you to keep thinking the way you are. I hope you understand where I’m coming from.