We were goign to try to get a lawyer to draw up some papers where the payments they made to me would include principle, interest, insurance, and real estate taxes.

If the owner qualifies for making homes affordable he could get a 2% 40 year mortgage with up to 30% of principle put on the back end as a balloon requiring no interest or payment unless sold prior to the 40 years.

You won't find those terms in NH, @Steve S - although the principle is the same.

I use to door knock foreclosures and I would always write down the objections people gave to me when I asked them questions.

Overcoming objections is key, so rather than fork over dough, offer a response to their objection and remind them all the benefits this home has that others in this price range do not.

Additionally, I like to see people fully prepared before they make a poor investment out of inexperience and a lack of basic investing principles.

This "research article" seems completely one sided and more op-ed than objective.

My dad bought a condo for 140k back in the height of the market,(2005), he was going to hold on like so many and flip it, but you know what happened he had it rented to support the expense etc,etc, He took out a no doc loan interest only for the first 10 yrs then it goes to regular principle and interest for the last 20.......

I have taken and passes Macroeconomics, Microeconomics, Financial Accounting and Principles of Management so far.

., his IRA would get a note and deed of trust seciuring the principle and you would pay him the interst arte you agree on, say 10% or 12% (be careful to stay inside the legal limits of the usury laws for the state in which the property resides).