Financing and Credit

I have been doing some research on Self Directed IRAs. If you have an IRA account, Traditional, Roth or SEP, you can convert it into a Self Directed IRA, and use it to fund purchases of Real Estate or other investments. The property would be owned by the IRA, and taxes would be defered until withdrawl. There are conditions and rules, but this still looks like a good option to me. Here are two web sites that explain the Self Directed IRAs, www.trustetc.com and www.penscotrust.com.

Does anyone have any experience with this program?

Al

Does anybody have a template of a purchase order I can draw from to send over to a company, which appears to be very particular. I don't have the slightest idea of what they are looking for, but I did attempt to send them what appeared to be my purchase order. I don't think it went over too well. So, if you have something I can use for my business HELP!!!!! Thanks so much... Please PM or email at: [EDIT: No posting personal info such ad email/phone/address in forums - Thanks!]

I am wondering if anybody know of some first time home-buyer grants that are widely available? If so, can you please post a link to the information?

Thank you.

I am eager to purchase a property in which my wife and I will move into, live in for at least 2 years for capital gains purposes (or lack thereof), possibly move out of after those two years, and rent it out for approx 3-4 years or until such time that the ppty market recovers and sell for a profit.

Based on such factors, what type of mortgage would be most suitable?

Here is an interesting article on mortgage rate and where they are headed.

NEW YORK (Reuters) -- Demand for U.S. mortgage applications was unchanged during the Christmas holiday week, holding the highest levels in more than five years with loan rates near record lows, an industry group said on Wednesday.

Borrowing costs have tumbled more than 1-1/2 percentage points from summer peaks and are widely expected to slide further as the government steps in to stabilize the worst housing market since the Great Depression.

Added by DGadmin:

For those who wanted more to learn more about Costal Funding (Sistreat introduced them to the community) see this thread. Any experiences you have with them, or questions you have for them, go ahead and post them here. Thanks!

I have been reading these lists of responses coming from well intended individuals, but allow me to say, if you are not clear on what is necessary to file for a business structure or even what a business structure might be you should search the web or consult an attorney. Next, before anyone delves into seeking "business credit" you should follow the necessary steps regulated in your home state.

I have been getting allot of emails lately from lending companies in the UK. Says they will put up money for 3-4% after sale. Don't know if these are legit or scams. Googled 1 called Ocean Finance. Website came up but that doesnt mean its legit. Here's what the emails said:

Hi everybody!

I have a couple of investor/buyers who would like to make cash offers on properties (preferably SFH). BUT the price has to be below 60% of the current ARV. Do you know of any in your state or anywhere else? Not buying in FL, CA or MI, though.

Also, if you know of anybody who needs a LOAN for their deals... they are interested in investing money as well.

Please, contact me ASAP: They want to get rid of their CA$H!

I wish all of you and your families a very Merry Christmas!

Best regards,
Conny Wolfram

Contact: http://www.deangraziosi.com/privatemsg/new/8755

Need some advise.....I currently have a mortgage on my home and am 3 months behind I have a ARM at 11.3%. I have been offered by my mortgage company a fixed at 10.75% that reduces my payment of a little over $100 and resolves all my past due payments. That I know that sounds great.....

My question is where is the truth I have been contacted my several so call modification company stating the can get my mortgage down to 5.0 or lower, with a very low payment. Some say they are attorneys and some represent companies. Now the kicker is the want as much as $3000 to do this task for me.