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Old 03-24-2011, 01:54 AM
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Default Mortgage question build or get a foreclosure?

given these detail would you buy in this price rangethe house is being built for $135000 (right outside atlanta) 10ft vaulted ceilings 2800 sqftproperty tax is around $1200interest rate 4.7%Income is about $3000 a monthI know someone trying to get a home but i feel that this price is too much for them. Their current rent is 990 and they spend over a thousand on other bills (utility cable car insurance car note credit card and so forth) basically after rent and bills are paid there is like $200 left over for whatever. The forecloser they found needs a roof so they cant afford to get that done. I say get a cheaper home but its not mine so is this risky for them or am i over analyzing?they got pre approved for 140000 but i dont think its accurate at all it doesnt make since to me
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