This article is another warning for those that are thinking about using I/O or ARM mortgage products to purchase a home that may lay just beyond their financial reach, using conventional fixed rate mortgages.
I don't want to see anybody lose their home, but investors should read between the lines. The number of opportunities for investment will increase as interest rates rise. We've already come across several new/repriced listings in recent weeks that appear to be significantly under priced to their comps as seller's attempt to exit quickly to avoid a pending bankruptcy/foreclosure scenario.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
As always, your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
