buying a home

[bigrob37]

hey I was just wondering if anyone knows if there are any programs for people with aids on purchasing a home. I have been renting all my life and getting section 8 seems like a disgrace most people look down on it I m not sure if I want to pursue the 8 thing.

[denb45]

hey I was just wondering if anyone knows if there are any programs for people with aids on purchasing a home. I have been renting all my life and getting section 8 seems like a disgrace most people look down on it I m not sure if I want to pursue the 8 thing.

If you can afford it, and if you have good credit, and you have at least a 20% down payment, you can buy a HUD-House in your area, you may also qualify for down payment assistance help up to $6,000 dollars, but the way the market is going now, with all the BAD LOANS out there, you're better off renting with (Sec 8 HUD)...if you're like most PWA's and you are on SSDI and you're Low Imcome......

         I've toyed with the idea of doing this for yrs. but, found out it's a lot cheaper for me to rent then buy a house...due to being low income ( 200% below the federal poverty line) is about where I'm, I have Great Credit, (I'm DEBT FREE) own a 98 yrs model Truck ,and can get all of the things I need, but I'm gonna be 52 next month, so, that Idea, seems to be unreachable and not very practical as I get older, and have MORE health problems

section 8 seems like a disgrace most people look down on it I m not sure if I want to pursue the 8 thing. if you really need it ,and it helps you LIVE, than there is nothing to be ashame of............

I have HUD Sec 8 and it helps me out a Great deal, I would be  homeless, and living in my car, are in a abusive relationship with someone I couldn't stand ( just to have a roof over my head) if it wasn't for sec 8  I'am Greatful and very humble that I even qauilfy for Sec 8 Hud 

[BT65]

Rob, I'm on section 8 and have no problems with it.  I know the reputation a lot of people who are on section 8 have, but it all depends on the person who's getting it.  There's nothing wrong with getting housing assistance.

[bigrob37]

thanks I have housing assistance right now through cascade aids project for one year and I have applied for section 8 I guess I am on the waiting list. I am grateful for them and my landlord for helping us out when she did or we would be homeless or living at home again. I guess rentings not so bad I was just curious everytime we are looking on craigs list it always says no section 8 I always think there racists.

[denb45]

thanks I have housing assistance right now through cascade aids project for one year and I have applied for section 8 I guess I am on the waiting list. I am grateful for them and my landlord for helping us out when she did or we would be homeless or living at home again. I guess rentings not so bad I was just curious everytime we are looking on craigs list it always says no section 8 I always think there racists.

NO.... Sec 8 doesn't mean that a place won't rent to you (it's illegal to do that and you should have reported them to the housing authority), before I moved to the place I live now, they said the same thing, but, later changed there mind when they ran a credit-check, criminal-history-check, and told me that my imcome was OK, then, I told them I was on housing assistance sec 8 HUD, and they told me that it was fine, we do that to (screen out) unwanted Renters , and we don't want drugs-dealers, child-molesters, and people who don't pay the Rent........ Race really has nothing to do with it, most places/Landlords just want responsible people who can pay the rent  so , the next time you see No Sec 8, it won't mean that they won't accept you as a Renter

[bigrob37]

thanks for you input you have been a real inspiration to me, its sometimes hard to cope with life.
and you seem to be doing great and keep moving forward. right now I am just trying to heal and I am not the type of person who likes to kick back and relax and everytime I start a project or take ahike or something I  am down for days. I want to go back to work again but the weakness and the diarreha is making it not possible. Right now with the economy like it is we have the right jobs right now. Rob

[Oceanbeach]

I have perfect credit because I have always paid my bills first and gone to the supermarket last.  On a disability income, it is impossible to buy a single family house w/ 20% down because the payments are out of the ball park.

I have found lenders who will loan 80% on a multi-family unit IF the seller will carry a second of 20%, at a low interest rate and it is a tax advantage for them to do so BUT, most people with a multi-family unit for sale want to cash out because they are trading up and need everything they can to fund their new building.

Finding such a project is a lot of work and finding a seller who will agree to the lenders terms is as much work IF you can find all of that, it is possible to have a multi-family unit with renters income covering your mortgage, insurance, and maintenance and no out-of-pocket money, there is no government programs to do this, it is local lenders who charge very high interest rates because they are using investor money and investors want a profit for the use of their money. 

What if you get some tenants who do not pay their rent and drag you through the court system for three months, withholding their rent in evictions?  Bingo, you have not paid your mortgage in three months, have been forclosed on by local lender and you no longer have a home.  Section 8 does look like a safer, better way to live.    Have the best day
Michael

[GSOgymrat]

I don't know if they are out there anymore but when my partner and I moved to Greensboro we bought a townhouse that had a non-qualifying assumable loan. Basically we paid the seller $12K and assumed his payments. They didn't even do a credit check. Here is a description of how it works:

http://michaelbluejay.com/house/assumption.html

We stayed in the townhouse for a year, fixed it up and then sold it for a nice profit.