| Author | Message | ||
Biggboss Side Hero Username: Biggboss Post Number: 8773 Registered: 08-2017 Rating: N/A |
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Linkmaster Legend Username: Linkmaster Post Number: 61488 Registered: 02-2008 Rating: N/A |
you are perefct person to answer my questions. same words used by my realtor.. I use attorney for same purpose who is making purchase documents. Both these attorney and realtor with me for the past 8 years and at least made 26 transactions.. | ||
Uno Side Hero Username: Uno Post Number: 4679 Registered: 03-2016 Rating: N/A |
Then that's Good for you ! But what if his situation does not turnaround in 6 months ? What if he can not pay you? Do you have resources to give notices ,take to court and foreclose the home ? or can engage debt collectors to collect payments ? Don't go by emotions,but discuss with professionals and take decision | ||
Linkmaster Legend Username: Linkmaster Post Number: 61487 Registered: 02-2008 Rating: N/A |
My realtor is assuring.. I have have barower pay stubs, tax returns etc... He is buying fully rehabbed house for 193K. Its worth. His plan is repay my money in 6 months. I will hold note on house and I get monthly interest and some principle, say 1350 a month. attorney makes documents .. feeling ok, but 1st time this kind.. | ||
Uno Side Hero Username: Uno Post Number: 4678 Registered: 03-2016 Rating: N/A |
I have little knowledge about it,but have general info from a discussion few yrs back It may be Good investment,but comes with risks attached Professional investors with good resources (like financial advisors,lawyers and debt collectors) can do it But for us mango investors,if we are stuck in one bad deal,we risk losing lot of money If you can do due diligence like checking the liens,other mortgages,exact value of the home and actual home condition..you can go ahead | ||
Linkmaster Legend Username: Linkmaster Post Number: 61486 Registered: 02-2008 Rating: N/A |
his credits are down.. he is selling his big house moving into small.. he is putting 100K, but short of 100K | ||
Biggboss Side Hero Username: Biggboss Post Number: 8772 Registered: 08-2017 Rating: N/A |
why can't the owner take line of credit against home equity? his interest rate will be much cheaper then 12%. | ||
Linkmaster Legend Username: Linkmaster Post Number: 61484 Registered: 02-2008 Rating: N/A |
is Mortgage Note is good at 12%? Any risks?.. 100K on 200K house... My realtor brought this opportunity and he is assuring other party.. |