Tuesday, February 7, 2012

Real Estate Series: My Question to Investors

Instead of a real estate article I have a more pressing matter today.  It is a question for investors.  And it's pressing because I want to do it before this house goes to auction in April.

The question:  Have you or has an investor you know ever bought a mortgage from a bank?  I don't mean a foreclosure.  I don't mean a short sale.  I mean like banks buying mortgages from other banks.  A man I know (I don't know him well) is supposedly going to buy a mortgage from a bank instead of allowing it to foreclose.  The owner would then supposedly sign over the deed to him.  Has anyone done this?  It sounds brilliant and I will have to ask him about it, but I haven't ever seen it done.  Please leave a comment if you know anything about what I'm asking.  Thanks!

And onto the house of the week.  Meet Luxury on the Lake.  My heart about skipped a beat when I saw this because when we moved to Idaho and started looking, a house similar to this was like double our price range.  Now it's fallen into our price range and I couldn't be happier (for me, not the people who are under water).

1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

LOVE the ceiling!
1063 S Island Glenn Way, Eagle, ID 83616

But I think the TV built-in would have to go.
1063 S Island Glenn Way, Eagle, ID 83616

Paint the kitchen cabinets white, perhaps, and maybe darken the floor.  And for sure get rid of the red wall that screams 2003.
1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

I'm guessing this is the master bedroom and that sitting area makes me giddy!
1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

1063 S Island Glenn Way, Eagle, ID 83616

Yes, this house made it into my top 3 choices.

I'm linking this up because I need some answers STAT!  Thanks' everyone!


Linking up at the great Linky parties found at the bottom of the blog.  They are where I find most of my inspiration!  Check them out!

plus


4 comments:

  1. Interesting, I haven't heard of this. And I cannot imagine anyone wanting to do this here in California, it doesn't sound like a good deal at all. That is quite a house, I love houses on water <3

    ReplyDelete
  2. You've never heard of a short sale? They are extremely common.

    ReplyDelete
  3. I thought that fell more under a REO type?

    ReplyDelete
  4. Hello Everyone,
    All pictures are beautiful. It is really a great post I have ever seen. Its an amazing experience. I would like to visit it again and again. because I need some more information. Now a days people are in to the habit of making posts. I think it would be a good inspiration for them. Thanks a lot....

    Real Estate Note

    ReplyDelete