Our Ch7 was closed 18 months ago. My husband & I just found the perfect piece of land at a really cheap price of $25,000 (the tax books say it's worth $50,000). We want to build a house on it in 2 years. We don't have $25,000 to pay for the land but the guy who owns it told us if we give him a $5000 down payment, he will finance the rest at 10% for the next 5 years. Does this sound like a good idea? Hubby thinks so, but I'm scared.
