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Updated over 9 years ago on . Most recent reply

Yolanda Thomas's profile image
Yolanda Thomas's profile image
Yolanda Thomas
  • Accountant
  • from Houston, Texas
  • Member since Apr 3, 2014
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14
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1
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Yolanda Thomas's profile image
Yolanda Thomas's profile image
Yolanda Thomas
  • Accountant
  • from Houston, Texas
  • Member since Apr 3, 2014
Connect
Yolanda Thomas
  • Accountant
  • Houston, TX
1
Votes |
14
Posts
Buying & Selling Real Estate

Purchase Home Affordable Modification agreement

Yolanda Thomas
  • Accountant
  • Houston, TX
Posted

I need help structuring terms to buying (if possible) a residential home that has  a HAMP loan.

The loan was started in 2012 and has a balloon note due 2035.  Owner has made payments on time but is in late 80's and want to sell.  

Owner wants cash.  I don't know if it's possible because of the balloon note, and I having difficulty comping present value of loan.

Owner is waiting for my offer 

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