Your best bet at this point would be to talk to an attorney about settling your credit card debts. Often this can be done for a fraction of the debt owed. See the link for legal assistance for low income residents of Arizona.
There is no correlation that a gated community would always have a land lease. I should say though that not every community with a land lease necessarily has high monthly costs. In most cases in fact Pad fee's or HOA fee's vary based on the community etc. If you are staying within a certain budget I would recommend that you definitely share that criteria with your agent if you are represented so that your agent only shows you those communities where you won't have that issue. Good luck in your home search.... more
111842f the lease runs with the land not with the owner. Upon purchase the new owner and you are still held to the terms of the lease. That is why when someone purchases investment property they send the seller an estopel letter. This stops them from making a lease after the offer comes in at very favorable rates and terms to a tenant that the new owner would have to honor.... more
THe last I heard of, this is virtually impossible. At a time, banks were offering tape at 50M and higher which I assume you don't have. I have been contacting some banks and REO agent for pocket listings at 30%+ discounts. If you wantto give me your info, I would be happy to get some property for you.
I believe it's mostly to blame on the loose underwriting and low down-payment programs. The less someone has invested in the home, the more likely they will walk away. Also Debt to Income is a huge factor. I just read an article that of the people surveyed, 75% said if they missed one weeks paycheck, they would be in financial trouble. NOT good news!... more