OMG. The creative financers are back. Received a purchase offer from a buyer who (1) is upside down in her current mortgage and (2) can’t get approved for a new mortgage because her income is “unusual” (i.e. it’s from disability insurance and oil stock dividends).
Here’s an idea: if you owe more on your current home than it’s worth and you can’t qualify for a new mortgage loan…. maybe… just maybe…. you shouldn’t be out shopping for a new home. I’m jus’ sayin.’
Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.
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