Suggestions Plz

[BEV! 0]

Simply put... " When It Comes To Funding Info, I Go Blind " (me don't know beans about it nor has I ever cared to learn about it... what's credit score anyway?) BUT for some unknown reason there is a source on the net that I have been exchanging emails with for a long time now about how they can assist me with my T/B's purchasing their Rent To Own homes that has really turned me on... I really like it and would love to provide this package to all my T/B's in addition to the one package I already provide to them to purchase their home.

Here's the latest letter I got from this source and I wanna know from the experts here what they think about it, should I go for it? I really like it but, what do I know?

Maybe this source is a member of this site too, I have no clue but here is the email.....

------------------------------------------

 

I just wanted to let you know that OUR programs DO allow any of you with a

min credit score of 580, to buy a home

anywhere within California for NO MONEY DOWN (100% financing)

up to a loan amount (as of Jan, 2005) of $ 875,000(for 570 min FICO)or (in 620)

 

Up to ONE MILLION Dollars!

 

From the last email message sent out, a few weeks ago, we received online

applications, contacted the clients, and it is my pleasure to tell you that

we have twenty-nine new families moving into their new home in Los Angeles,

Alameda, Ventura, Sacramento, and Riverside counties! So you can

see that this DOES work so now it can be your turn to be a homeowner in

2005. Don't wait because prices keep getting

higher and higher.....for example the average price of a home in the Valley

is now over $ 500,000. To me that is

CRAZY because I first moved and lived in the valley in 1982 when the average

(house not condo) was about 125,000

...........but that IS what they are now so what can you do except buy and

own something as soon as possible via our loan

programs! The average California property this month Jan, 2005, is 26-31%

higher than it was in Jan, 2004

That is (again) nutty, but true!

But we can help you into these high priced homes this month, but you need to

take some action NOW!

 

If you are not excited about this, I do not know what to think

except that if you have not contacted us yet, then you cannot be too serious

about owning a home.

 

However, if you are serious about owning a home, and do have a min credit

score of 580, you do plan to live in the home,

you do have a steady income source(or can bring in a co-borrower who does)

 

Let us help you and your family into part of the "American Dream" this

month, call us at XXXXXXXXX or check

the website and apply online at

http://www.firstmetusa.com

 

------------------------ end of email ---------------

 

Thanks,

[Brian - L.V. 0]

BUT for some unknown reason there is a source on the net that I have been exchanging emails with for a long time now about how they can assist me with my T/B's purchasing their Rent To Own homes that has really turned me on... I really like it and would love to provide this package to all my T/B's in addition to the one package I already provide to them to purchase their home.

 

Doesn't sound like a bad deal other than he/she never mentioned what's in it for you. To me, it sounds like he's trying to sell you a mortgage from the email. I'm a networker, so I believe that they should either be sending you property or t/b referrals in exchange for your business. At least a referral fee for every loan they originate. I'm obviously not a mortgage broker, but their program seems similar to ones I've heard about here. Not as high of a limit, but 100% financing with a minimum credit score of around 600.

 

I get similar emails from mortgage brokers here in Las Vegas all the time offering their services, but none seem overly excited about working with me as an investor in respect to sending referrals my way (they say one thing, but I never get lead calls from them). Let us know how it turns out! Maybe I'm just approaching the brokers the wrong way...........

[lacashman 0]

It is easy to find lenders who will do 100% with a 580 FICO for OO.

 

Every lender will do big loans in CA.

 

Any morgtage company that does subprime can do the same.