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Updated over 8 years ago,
Owner financing offered, property has a reverse mortgage
Found an opportunity for a tri-plex property offering owner financing, 12% down, 0% interest at a reasonable asking price and good rents. Sounds great! Then she tells me she's got a reverse mortgage on the property. I have no idea how that impacts her ability to even do an owner financing deal or how it could impact me. Any brokers or attorneys out there who could tell me if something like this is even doable?