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Updated over 9 years ago,
Seller finance balloon payment
This may seem like a no brainer, but I want to make sure something...
Example -
Purchase Price - $100
Down Payment - $10
First Mortgage - $75
Seller Financing - $15 (balloon payment at 5 years)
When the balloon payment for the $15 comes up, can I refinance just the $15 or do I have to refinance the $90 (Mortgage and Seller financing)?