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Updated over 11 years ago,

Jason Blasenak's profile image
Jason Blasenak's profile image
Jason Blasenak
  • Investor
  • from Simpsonville, South Carolina
  • Member since Jun 21, 2013
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Jason Blasenak's profile image
Jason Blasenak's profile image
Jason Blasenak
  • Investor
  • from Simpsonville, South Carolina
  • Member since Jun 21, 2013
Connect
Jason Blasenak
  • Investor
  • Simpsonville, SC
0
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13
Posts
Private Lending & Conventional Mortgage Advice

contract for deed as a second mortgage?

Jason Blasenak
  • Investor
  • Simpsonville, SC
Posted

Has anyone ever done a contract for deed as the second mortgage. I didn't think this is possible. I have someone who would like to borrow 5k to fund a light rehab on a house (tenant trashed the place upon eviction, needs light cosmetic rehab). He has a mortgage of 38k on a house worth 75k. What would be the best way to secure this funding in case he would default on our loan?

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