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Author: thomajn One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127236  
Subject: Cash out Date: 12/12/2001 11:13 AM
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Hello People,

My sister is looking at house but she needs to clear $5000.000 in bills in order to afford it. I told her about a 80/20 loan, was that correct? Does anyone know the best leader to deal with for that type of loan? The house she wants is listed as $170,000.00, and it's been on the market since March so they are willing to take $10,000 off the price. I think it hasn't moved because it's a Ranch, stuck in the middle of 2-stories, but she loves the house anyway. Since they are offering $10,000 off I told her to offer $170,000.00 and if she gets a 80/20, to write the contract as $170,000.00 and have to sellers pay $3000.00 towards her closing cost and give her $7,000.00 at the closing for bills, but write the contract as the seller is giving the buyer $7,000.00 at closing the repairs to help the buyer repair her home for selling. Can you do that with a 80/20 loan, or any loan for the matter?
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