Speed Dating for a Mortgage Partner
NOW I’ve seen everything!
OK, I know, as soon as I say that, someone will come along with something even MORE bizarre…
BUT, I have to say Speed Dating for a Mortgage Partner MUST be way up there at the top of the “Most Bizarre Financial Ideas” list, if there is one. (There should be!)
It kind of takes the idea of searching for roommates to share an apartment to another level. Basically the plan is for people who would buy a house or condo together with a perfect stranger to get acquainted in a “speed dating” scenario and invest a few minutes into determining if their pocketbooks and credit ratings are compatible.
It’s happening in Toronto where the housing market has gone so nuts that it’s pretty much impossible for a single one-income person to qualify and buy a house, any house. Pooling resources may be the only way they can make it happen, and, of course, being priced out of the market is not a problem unique to Toronto.
Most lenders will write “friends and family” loans for unmarried co-purchasers, which include some specific legal language to protect both parties. That’s not new, but this method of meeting your financial partner through “speed dating” is definitely a new twist.
Would YOU gamble on a co-purchase partner?
(I assume there would be numerous followup meetings if you found a potentially compatible money mate before making any commitments, but still.....)
Of course it should come as no surprise that once you link up with that perfect financial match I'm ready to find you the house! CLICK HERE
Please visit my website jimatthetop.com for a wealth of information and how-tos about buying and selling real estate, Houston area communities and neighborhoods, financing, helpful resources and more.
http://jimatthetop.com
jimpedicord@remax.net
281-610-7847 Cell
713-558-2537 Direct
713-773-3700 x 2537 Office
713-773-3311 Fax
OK, I know, as soon as I say that, someone will come along with something even MORE bizarre…
BUT, I have to say Speed Dating for a Mortgage Partner MUST be way up there at the top of the “Most Bizarre Financial Ideas” list, if there is one. (There should be!)
It kind of takes the idea of searching for roommates to share an apartment to another level. Basically the plan is for people who would buy a house or condo together with a perfect stranger to get acquainted in a “speed dating” scenario and invest a few minutes into determining if their pocketbooks and credit ratings are compatible.
It’s happening in Toronto where the housing market has gone so nuts that it’s pretty much impossible for a single one-income person to qualify and buy a house, any house. Pooling resources may be the only way they can make it happen, and, of course, being priced out of the market is not a problem unique to Toronto.
Most lenders will write “friends and family” loans for unmarried co-purchasers, which include some specific legal language to protect both parties. That’s not new, but this method of meeting your financial partner through “speed dating” is definitely a new twist.
Would YOU gamble on a co-purchase partner?
(I assume there would be numerous followup meetings if you found a potentially compatible money mate before making any commitments, but still.....)
Of course it should come as no surprise that once you link up with that perfect financial match I'm ready to find you the house! CLICK HERE
Please visit my website jimatthetop.com for a wealth of information and how-tos about buying and selling real estate, Houston area communities and neighborhoods, financing, helpful resources and more.
JIM AT THE TOP
Jim Pedicord RE/MAX Top Realtyjimpedicord@remax.net
281-610-7847 Cell
713-558-2537 Direct
713-773-3700 x 2537 Office
2911 S. Sam Houston Pkwy. E. Houston, TX 77047
Comments
Post a Comment