If you have an appetite for 30 year type loans and willing to accept rates at 7% currently.

I was wondering if when I buy a property at the auction and the right of redemption period is let's say 6 months can I sell the property once I have finished my renovations (fix and flip exit strategy) or do I have to wait until I am in full possession of the property after the redemption period has ended in order to transfer the deed?

Any new owner / investor would need to make these rate changes - compelling the current residence to  move elsewhere (somewhere more affordable).And this is why the residence are looking to make a Co-Opp.

In April, shopped around a bit with a different agency, but they couldn’t find a cheaper rate.

Several factors could explain why the homeownership rate remains relatively high.

@Robin Simon one is a second home loan with a great rate and the other is a hard money DSCR loan also with a great 30 year fixed rate (thanks to the covid rates).

Rates should decrease, but the issue with that is that when rates drop, people can pay more.

The seller will obviously hold the debt/note for the existing mortgage while the title gets transferred to me.

We have used this attorney for more than a decade and have a grandfathered rate.

We have used this attorney for more than a decade and have a grandfathered rate.