have lived in a rented house for 18 yrs now house is up for sale. i know i will have to move, by now i have no money to put down, i dids 3 yrs ago.

Asked by 50dizzy, Cranford, NJ Thu Sep 9, 2010

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Ian A. Wolf, Agent, Morristown, NJ
Fri Sep 10, 2010
There are a number of 100% financing programs in NJ. One is the USDA program, but it may require that you choose an area with in the approved towns. Try visiting here for more detail: http://www.rurdev.usda.gov/nj/guarmfh.html

There is also the HMFA program. It also has some geography guidelines but could be what you need:

The best place to start though may be the Housing Partnership in Dover. They are a non-profit that has knowledge of all kinds of special grant programs, and education that will help you get what you need.

Hope that helps.
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Jennifer Bla…, Agent, Basking Ridge, NJ
Thu Sep 9, 2010
Maybe you will get lucky - maybe the purchaser will be looking for a rental property and you can stay! Good Luck!

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Desari Jabbar, Agent, Stone Mountain, GA
Thu Sep 9, 2010
Wow. 18 years is a long time to have been a renter. I suggest you look at Craig's list, backpage.com to investigate places to rent so that when the time comes you'll be prepared. As Marc suggested, when you get lemons, you gotta make lemonade.

Best of luck to you!!
Web Reference:  http://www.DesariJabbar.com
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Marilyn Hold…, Agent, Westfield, NJ
Thu Sep 9, 2010
There are still some options to put a minimal amount down -- if you qualify for an FHA mortgage you may be able to put down as little as 3.5%. If I take your words literally though ("no money to put down"), it would be almost impossible for you to qualify for most mortgages. Perhaps you can work out something with the Owner -- if you purchase directly from him/her, perhaps they would be willing to finance the purchase in some manner. If you go down that road, be sure to have all the paperwork prepared by an attorney so your interests are protected.

If you are intererested in local Rentals, please contact me -- though keep in mind that in our area it is typically the Tenant who pays the Real Estate Commission (1 month's rent) and most Landlords require first month's rent in addition to 1 1/2 month's rent as a security deposit -- it definitely adds up. Your other option would be to find a rental on your own through the newspaper or some other online source.
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Marc Paolella, Agent, Succasunna, NJ
Thu Sep 9, 2010
Time to rent something new. There's nothing wrong with that. Look at it as a new adventure and a chance to throw out a lot of accumulated garbage.

When one window closes, another one opens...


Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based home search: http://www.marcpaolella.com
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