Question


JConfuzed

How to mortgage takeovers work?

I am looking for a place to rent/stay with bad credit and little money. I found a place on craigslist that says they do mortgage takeovers with no money down and no credit check. How does this work? Is it legit? This is the ad I saw losangeles ...

5 months ago - 4 answers

Best Answer

Chosen by Asker

Years ago mortgages were assumable, but not now. There are scammers showing property, taking deposits, and have no connection to the property whatsoever, so your money is gone and you have no place to live.

by knowitall

5 months ago

Asker's Rating: 

Other Answers

avoid this. talk to a real estate agent or look in the Apartment Guide for rentals. clean up your credit by paying cash for only the things you really need.

by versantly- 5 months ago

Scam. Lesson of the Day: If it sounds too good to be true then it probably is.

by goldshire1- 5 months ago

Scam. Mortgages are not assumable.

by MadMan- 5 months ago