Financing in Romeoville : Advice

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Debi Shapiro, Real Estate Pro in Lockport, IL
Debi Shapiro answered:
There is a property at 509 montrose in Romeoville. It is For sale. Could it be a Rent W/ option for 1 year.?
This property is currently available for $52,500, but is not available for a lease with option scenario as it is a short sale. Typically, short sales are not available for lease.

Are ... more
0 votes Share Flag Thu Feb 2, 2012 Financing in 60446
Steve Smither,  in Palatine, IL
Steve Smither answered:
Transfer of Ownership costs and time?
John,

That is a great idea.
However there are a couple issues to your idea.
1. If your trying to rent the home to your mother inlaw...you must have 25% equity in the home to count ... more
0 votes Share Flag Fri Apr 23, 2010 Financing in Romeoville
Dan Chase, Home Buyer in Texas City, TX
Dan Chase answered:
Having a family member co-sign a mortgage
It puts your family member in a bind if anything ever happens and the MUST pay YOUR mortgage. Try to improve your credit so you could buy without this happening.
0 votes Share Flag Wed Feb 10, 2010 Financing in Romeoville
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