I'm curious if anyone has called this place... There is a sign on Hwy 70 at Guy Rd which reads: "House For Sale - Owner Will Finance" and give a number. There are a couple of red flags. First, it's a professionally printed sign. Second, the number is an 800 number. I know, the first rule, "If it's too good to be true, it probably is" Just wanting to know y'all's thoughts.
Just be very careful, the professionally printed sign is scary! I would be concerned that they are preying on folks with bad credit who can't get financing any other way (high interest rates would be one way). There are people who legitimately offer owner financing for tax purposes, but I would be very careful and definitely you need your own lawyer in such cases.
I second that. I'm guessing they might be offering an installment contract, where you don't actually own the house until after you make all the payments.
Exactly...........................very risky for the buyer, you could make payments for years, but have a problem and miss one and you are SOL and out a house, you don't have any real equity, the seller does. :shock: I was about to have a nervous breakdown a few weeks ago when my Mom bought a house with owner financing (failed business = bad credit :-( and I don't cosign for anyone ) in PA, but turns out the owner was a judge who had inherited the house and didn't want to pay all those taxes. She got a really decent interest rate all things considered.
My guess was that it was a marketing scheme. You know, a pre-recorded ad that says, "Send us $50 and we'll send you a list of owner financed homes in your area. The reason I don't call is that I'm afraid it's an even more nefarious scam where the 800 number automatically ports you to some off shore number that charges you, like $100, a minute.
The number on the sign is: 1-800-334-1006 NOTE: By posting this phone number, I am in no way advocating the business which may be the owner of the number. It is for informational purposes only.
I also tried, and came up empty as well. But that doesn't really mean anything. It could simply be a new business.
It's: Our Homes For Sale. The number is the "hotline". They mass-purchase homes fr the bank (repos I'm guessing), then resell. They have some homes for zero down, owner financing. Others you have to "qualify", but they "pay all closing costs and moving expenses". That's one that sounds too good to be true. Wonder what the catches are? :? Frogger
