Newsgroups: misc.invest.real-estate
Subject: Re: Homes available     0 down-no credit needed
From: "Jackie Chandler" 
Date: Sun, 27 Jun 2004 14:25:27 GMT


On 27-Jun-2004, "Tyrone"  wrote:

> > Homes available in select markets
> >
> > 100% financing-NO DOWN PAYMENT and NO credit needed
> > 9.9% interest, 30 yr. no balloons or prepayment
> >
> > http://buypropertytoday.net/wst_page5.html
> >
> > Limited offer-first come, first served
> >
> > BuyPropertyToday
> >
> >
>
> Hmmmm, that's pretty white of you.

From the same website: http://buypropertytoday.net/wst_page2.html

"A living inter vivos trust to hold title to the property, which protects
you and the home buyer. While home buyers enjoy all the benefits of home
ownership, they are occupying the property under a "Use and Possession"
agreement. They do not hold the deed until they purchase the home from the
trust. If they do not fulfill their obligations, they can be evicted, which
is a much quicker process than a foreclosure."
What the heck's a "living inter vivos trust? Could someone like Marek
comment on this one. Sounds good but you know what they say about things too
good to be true. There must be substantial risk for the 10-20k gain they're
offering. What's the worst that can happen?

Thanks,
JC