Word: mortgagee
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We soon settled upon a strategy: find a luxury apartment in one of the best downtown areas, hire a property firm like Colliers International or Jones Lang LaSalle to manage it, then lease it to expats. (Locals, I was told, hate to rent.) "Go for a prime location in the...
Mortgage interest
Meanwhile, the interest-rate plunge has roused a sleeping giant: the housing industry. Last week mortgage lenders were charging about 10% on 30-year conventional, fixed-rate home loans, compared to 13% a year ago. Says John Duffy, president of the Philadelphia Board of Realtors: "We are just seeing an...
Del Dotto and dozens of pitchmen like him are inundating television airwaves and packing conference halls across the U.S. with their gospel of "no money down." The seminars and TV programs are teasers for the real product: packages of booklets and tape cassettes that explain in more detail how to...
The gurus aim their advice at neophyte investors who lack the 10% to 20% down payments required for conventional mortgages. The no-money-down advocates tell their students to look for so-called motivated sellers, people who are so desperate to unload their property that they will go along with...