ensignavenger's Advice

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ensignavenger wrote:

Minimal Homeowners Insurance in MO
I am in the process of purchasing a home and need get homeowners insurance.  I have been quoted some pretty ridiculous sums, and now I am looking for quotes for a minimal policy that will meet my obligations to the lender.  I am wanting to compare this to the more expensive policies.I am paying $49,000 for the house.  The loan will be for slightly less.  So if I get insurance for $50,000, we should have it covered.  I can do a max deductible of ~$2,000.Any insurance agents out there care to quote me? 
October 10 2012
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20,000 mortgage in Springfield MO
Can anyone offer a $20,000 FHA mortgage in Springfield MO?  
July 05 2012
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Anyone know a private investor willing to do a real estate loan for 25-30,000 in Springfield MO?

Answer
@ConnieK, Thanks for the advice- I have looked at all sorts of homes.  I have multiple friends who are contractors and are providing estimates on repairs.  Obviously anything- even a brand new home, can end up costing more down the road as things are discovered.  If I could revise my question, I would say a "higher" interest rate.  I have accepted it as a fact that any private lender will want a higher interest rate than the banks, because the banks can get Uncle Sam money, and Uncle Sam money is cheap. Unfortunately, Uncle Sam has decided that I am not one of the blessed few who can get one of his loans this year. Next year he tells me. But paying a higher interest rate is still less expensive than renting in the current market.  
April 17 2012
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Anyone know a private investor willing to do a real estate loan for 25-30,000 in Springfield MO?

Answer
@Ryan, yes, I am looking for such an investor- can you put me in touch with someone?@Justin- Not true- the investor could either hold deed and we could setup a contract for deed, or they could hold the mortgage just like a bank does. Or we could do a lease with an option to purchase or rent to own arrangement.  The home won't lose any more value than what I can get it for now. Actually, it is a very low risk deal for any investor, and it would pay out a very high return for that limited risk.
April 16 2012
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Anyone know a private investor willing to do a real estate loan for 25-30,000 in Springfield MO?
I want to buy an REO home and fix it up for my growing family. I have a 5% down payment and more to put into the home. I can easily make the payments, even with a high interest rate. I have been renting my current residence for over 5 years at a much higher monthly rent payment. I can provide a landlord reference as to my ability to pay. I am willing to pay a high interest rate because it is still less than I am paying for rent now. I can re-finance in a year or so with a conventional loan, after I have fixed a few minor issues with the house. 
April 16 2012
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