A Friend, A Home, A Mortgage
Posted Jan 25, 2007 @ 10:36 pm, Viewed by 673 Visitors, Read 673 Times.There comes a time over the course of any renter’s time in a particular piece of real estate where it seems that the payments are providing a great stream of income for a landlord but little for you. Indeed, as incomes begin to creep up and the ability to handle at least a portion of a mortgage becomes a possibility, more and more renters are beginning to feel that way and enlist a friend to make their home ownership dreams happen.
There is a time in life where particular income levels can outgrow renting but perhaps be too small to take on a full mortgage. As a way to either bridge that gap or land a home above a single person’s income level, friends are beginning to team up in greater numbers to operate as co-owners on a home. As with any real estate transaction, these deals require a bit of care and, more importantly, asking some tough questions of yourself and your prospective co-owner...[more]
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We are TeamLane. We are Joe and Colleen Lane of The Lane Real Estate Team. We service the Tri Cities Washington areas of Kennewick, Richland, and Pasco, bringing to the table years of real estate experience. Read More
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