Welcome To..........Im So Pissed Off .com
Please register or login in to vent! Thanks!
Welcome To..........Im So Pissed Off .com

Your Best Place To Vent!
HomeHome  PortalPortal  FAQFAQ  SearchSearch  RegisterRegister   Original Homepage Original Homepage  MemberlistMemberlist  UsergroupsUsergroups  Log inLog in  


 Investor greed sucks!

Go down 
Snake Eyes

Posts : 19
Join date : 2008-05-07

Investor greed sucks! Empty
PostSubject: Investor greed sucks!   Investor greed sucks! Icon_minitimeMon May 18, 2009 10:26 pm

Well now that the housing market is a buyers market. There are these investors negotiating deals with mortgage lenders to sell to them for a fixed price. Usually less than whats owed. A contract is signed that gives the investor first rights to purchase the property. The investor then finds a buyer willing to buy the house for more than the amount the lender agreed upon with the investor. Follow me so far? The buyer doesn't know about the agreement with the lender and the lender usually doesn't know about the new buyer willing to pay more for the same house. At the closing the investor buys the house at said agreed price from the lender and closes with the new homeowner. The investor pockets his profit in one day. Now I don't have a problem with people making a profit. But Hey! Sounds a little shifty to me. Now this also ties these homes up so that the general public cannot buy these at a good price because of the investors contract. This really sucks! I hate greed! Let the new home buyers get first crack at these houses.
Back to top Go down
View user profile
Investor greed sucks!
Back to top 
Page 1 of 1
 Similar topics
» I told you our HOA sucks, ha ha

Permissions in this forum:You cannot reply to topics in this forum
Welcome To..........Im So Pissed Off .com :: Venting Central :: Current Events Vents-
Jump to: