218
Trying to buy a house is 'playing a game you can't win'
(www.bbc.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 27 May 2024
218 points (97.0% liked)
News
23301 readers
1023 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
How long ago was this? I wanted to do something like that in 2009, but banks refused to write a loan that small because (with laws limiting origination fees to a percentage of principal etc.) there wasn't any profit in it. (I ended up buying a 3-bedroom house for ~$100k instead, and the super-cheap house I wanted sold for cash to a flipper, who put an addition on it and sold it again a year later for ~$300k).
As the landlord/creditor, you could've reported the on-time payments to the credit bureaus yourself, I think.
It was 2006.
Yeah, I think you might have snuck in shortly before the origination fees regulations changed. Lucky!
I'm also in a small town and used a local bank.