John's 68 Camaro "Bloodline"

[John510]

I am unable to get a home loan due to a short sale. I really want to buy a house and the only way I can buy one is with cash so I have to sell assets to get cash.

It is about 1 month away from being driven.

[Vegas69]

If the build is nice and clean and the car drives I'd say in the 60k-75k range max.

I'd sell off all the turbo stuff and the OZ intake and finish the car economically.

[randy]

depends how much you need but sell the intake, engine, and some other things to get the money you need and keep the car. That is unless you just dont want the car

[geberhard]

John realistically this is a ****ty time to sell a project, specially a non running setup. I would try to get the car either as a runner or at least body and paint done.

What about getting a loan against the car?

Gui

[Flash68]

The last thing I would spend cash on is a house right now with this interest rate environment.

See Greg Weld's thread for more details.

[John510]

Originally Posted by geberhard

John realistically this is a ****ty time to sell a project, specially a non running setup. I would try to get the car either as a runner or at least body and paint done.

What about getting a loan against the car?

Gui

Body and paint are done. It is almost assembled and running. Car would be sold as a completed turn key car.

Originally Posted by Flash68

The last thing I would spend cash on is a house right now with this interest rate environment.

See Greg Weld's thread for more details.

Houses in my neighborhood are going up by the day. A year ago you could get a 3 bdr/2bth home in Castro Valley for 350K. Now they are 450-500K and climbing. The Bay Area housing market (especially in Castro Valley) is rebounding quite quickly. The cheaper homes go up in value and the higher end ones go down Im noticing.

[Vegas69]

Originally Posted by Flash68

The last thing I would spend cash on is a house right now with this interest rate environment.

See Greg Weld's thread for more details.

20% down conventional financing is available 2 years after a short sale and FHA 3 years. What about private funding until you can refi into better product?

[John510]

Originally Posted by Vegas69

20% down conventional financing is available 2 years after a short sale and FHA 3 years. What about private funding until you can refi into better product?

Would you know anyone who does private loans? I have 50% down. Homes are averaging 450K around here for a decent 3/2

[Cole]

As Todd said, 2 yrs for 20% conv. And 3 yrs for FHA 3.5%.

How recent was your short sale? And any family that can sign?

Or know any hard money lenders? Their rates are a little higher.

[Cole]

P.S. never put so much cash down on your house, unless your made of it. You need the interest right off. Liquid assests