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Updated over 5 years ago on . Most recent reply

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Menachem Bresler
  • from Houston, TX
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Menachem Bresler
  • from Houston, TX
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Menachem Bresler
  • Houston, TX
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Buying & Selling Real Estate

Reinstating a mortgage

Menachem Bresler
  • Houston, TX
Posted

saw a deal that said "all you have to do is pay 45k to reinstate. 28 years left on loan. I'm new @ this game can someone explain what that means?

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Theresa Harris
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@Menachem Bresler  If they are behind in their mortgage (with 28 years left) and you are serious, you will also want to make sure they aren't behind in other payments such as taxes.  Assuming a 30 year mortgage and $45K behind, you have to wonder how many payments they made.

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