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Updated almost 12 years ago,

David A.'s profile image
David A.'s profile image
David A.
  • Involved In Real Estate
  • from Fort Worth, Texas
  • Member since May 31, 2012
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User Stats

158
Posts
11
Votes
David A.'s profile image
David A.'s profile image
David A.
  • Involved In Real Estate
  • from Fort Worth, Texas
  • Member since May 31, 2012
Connect
David A.
  • Involved In Real Estate
  • Fort Worth, TX
11
Votes |
158
Posts
Buying & Selling Real Estate

Can a real estate agent write a contract with a Wraparound Mortgage?

David A.
  • Involved In Real Estate
  • Fort Worth, TX
Posted

I am getting my courses done to be licensed and I came across this. This is a strategy that I want to implement in my business in the future but being an agent would make it illegal. Any thoughts?

WRAPAROUND MORTGAGE
The seller actually uses his equity to create a loan for the buyer. Used
most often during times of high interest rates, it is illegal for real estate
agents to write contracts with this financing. Legal counsel is strongly
recommended.

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