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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 2 Mar 2005 11:07:51 -0800 /

Author of the message: silvermonstermax@yahoo.com

Title of the message:
Re: Home Loan After Bankruptcy...Need Advise

Text of the message:
can you explain what the exploding ballon loan is about? also I don't
know if this matters or what but I am getting a salary increase to 72k
a year. in addition to that, I forgot to mention that I have a side
consulting job that brings in roughly 500-700 a month. Well as of right
now, I am going to still rent but would like to get into a house down
the road like end of this year or beginning of next. I am saving as
much as I can. I have been told that the market is so booming in
california that everyone is buying these houses. Even people that can't
afford it are getting it because they can by just paying full interest
and on a varible rate instead of fixed. Someone mention that in a year
or 2, if the varible interest goes up, these people will have to
default their house because they can't afford it any longer. Is that
true? will that be my chance to snatch up a good deal on a house.



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