If it’s Maryland it must be recorded (if not check the crazy law where the borrower can request all their money back and walk from the deal- even five years later).Having owned 100’s of land contracts - they are often used in the wrong instanceIn Maryland, I would never recommend somebody do a Land Contract.

Would you borrow less?

I remember hearing stories from my finance professors about how when interest rates were high in 70s the banks would offer mortgage borrowers a chance to payoff their loan at a discount to the principal balance.   

I need confidence builder to take action, my first time doing borrowing like this..

Many of the borrowers had interest-only loans, which are a type of adjustable-rate mortgage.

I don't know if they service CO, but from another broker I can vouch for, she told me they closed on a borrower who was purchasing for O/O and he was the owner of a grow op. 

The bank he was borrowing from was bought out and the new bank didn't like the fact that this kid had millions of dollars in loans with them. 

It is very important to me for the borrower to have what?  

Majority means more than half. 4155.1 4.B.2.a Definition: Principal ResidenceA principal residence is a property that will be occupied by the borrower for the majority of the calendar year.2.

I was wondering if the buyers were "inflating" the transaction price to either borrow more or even receive funds/commission at closing.