Signs of the Times, Umpteenth Edition: Sneaker Pawn Shop

[KD5NRH]

It's no harder to do with a house than a car, it just takes longer.

The initial investment is the key; I can buy a crappy beater with one paycheck, and never have to save up more than one paycheck at a time for parts to fix it up.  I don't know of anywhere off the top of my head where $1,000 would even buy an empty lot, so doing it with a house requires a lot more saving up to get started.

[dogmush]

That implies you need a down payment. Having met an idiot that actually got a NINJA  mortgage, I can tell you that's untrue.

[Scout26]

That implies you need a down payment. Having met an idiot that actually got a NINJA  mortgage, I can tell you that's untrue.

And those don't exist anymore.  All the GSE* backed mortgage lenders have really tightened up their minimum requirements.   And no private equity lender or small to regional bank is will to do anything less then what the GSE's mandate. 




*- Government Sponsored Entities:  Fannie Mae, Freddie Mac, FHA, VA, etc.

[Firethorn]

And those don't exist anymore.  All the GSE* backed mortgage lenders have really tightened up their minimum requirements.   And no private equity lender or small to regional bank is will to do anything less then what the GSE's mandate.

Have they fixed the fraud problem?