Top Resources Top Resources
Web Results
  • 1.
    eBay Motors: Financing Center
  • Features a "how to" center, monthly payment calculator, and a credit application to be connected with the right lender. From eBay Motors.
  • http://financing-center.ebay.com/
Questions/Answers
What method of financing isbetter when buying a car,Balloon Financing ortraditional financing?
What is better Balloon financing or traditional financing? What are the pros and cons of each?
Balloon loans provide lower payments but then you owe a huge final payment, which you have to finance again. What this does is keeps you upside down on your loan for years, increases your total finance costs, and makes it almost impossible to sell or trade your car before the end of both loans. Stay away from balloon loans if you can. Dealers sometimes push them just to get the payment a customer wants, without fully explaining the downside.
How does financing work on aresidential lot?
There are 2 residential lots in this neighborhood that is up and coming. I want to buy the two lots but sit on them for about a year or so. How would the financing work? Do you finance something like that as you would a 30 yr mortgage?
You get a lot loan from a lender. The interest rate will be higher than a traditional mortgage. Typically the terms are shorter, I have seen several 10 year land/lot loans, a few 15s.
What are the pros and cons ofowner financing a home?
I have a home that I am interested in selling and am looking at various ways to entice buyers in this tough market. One option told to me was owner financing the property. What are the pros and cons as a person that would be financing my property? Also, what would be the difference if I still have a small mortgage on my property? The property is in Pennsylvania.
Pros: you will have lots of buyers to choose from you can make a good profit you have the right to foreclose and take back the home if payments are not made as the promissory note states Cons: You will need to screen all of those buyers Profit is long term You will have to go through the legal process to foreclose if necessary This is in my state of Texas, you should find out what the rules are where you are. Many investors in my area have become quite wealthy with owner financing. One reason is that when the owner forecloses, they lose all equity in the home and the financier can then sell the property again, keeping the last person's equity. Not saying this is right or wrong, just a fact.
knowledge base
* Indicates a required fieldAdd your knowledge or ask a question:
  • Display Name:(letters/numbers, no special characters)
  • Your knowledge or question:*
    (min: 100 characters, max: 2,000 characters)
  • Character count: 0
© 2008 ToseekA.com
Portions of this page powered by: yahoo!