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Updated over 6 years ago,
why would an owner take 2nd position when offering seller finance
why would an owner take 2nd position when offering seller finance?
owner is offering to seller finance a property he owns.
buyer wants the property but wants owner's mortgage to him to be in 2nd position to his (private money) down payment
why would a seller risk the chance to foreclose if payments are missed by taking 2nd position to the private money lender?
signed, perplexed in Poughkeepsie... :)