Real Estate Reality Check™ - Building Wealth in Real Estate
If you thought that timely payments on a commercial loan preclude foreclosure, think again.
The standard loan on an investment property had usually been a 20 year commercial loan which is not callable, with interest re-adjustments after each 5 year period.
Then lenders innovated.
“Rent to Own” sounds like a dream come true to many aspiring homeowners. Given current credit conditions, such deals look very enticing.
Here is the most important economic statistic nobody knows: posted jobs openings are growing at twice the rate of hires and about 5 million of them cannot be filled. One of the reasons is the housing market itself. Qualified applicants can’t move out of town because they owe more than their house is worth.