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Updated about 9 years ago on . Most recent reply

Blair Murphy's profile image
Blair Murphy's profile image
Blair Murphy
  • from Shingle Springs, California
  • Member since Feb 21, 2013
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20
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1
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Blair Murphy's profile image
Blair Murphy's profile image
Blair Murphy
  • from Shingle Springs, California
  • Member since Feb 21, 2013
Connect
Blair Murphy
  • Shingle Springs, CA
1
Votes |
20
Posts
General Real Estate Investing

Applying for Refinancing

Blair Murphy
  • Shingle Springs, CA
Posted

hi,

I'm wanting to invest in a second rental property. I was contacted by a refinance guy and he's asked me two questions that I don't know what/how to answer: 

What is the first mortgage debt on it ? Did you pay for it or do an installment sale ?

I've googled these terms but really only got further confused. Can anyone help me with this terminology?

Thanks in advance!

Best,

Blair

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