I am commercial principal broker.

Gloria Almendares - Principal BrokerRealty By The [email protected]

If it is possible to get out of it, you would need to first pay the principal down to 80% of home value at time the loan was made.

He is asking $125K, he has a mortgage on it of 30 years at 5.125% and only approximately $2718 in current principal equity.

Which could be used towards the principal of a home via equity.

You'll be most effective by getting to know the principal, their concerns, expectations, time and other issues, and all players influencing the decisions and affected by any outcome.Suggest you copy and print this post,

If the money isn't going to principal or in your pocket, it's interest.  

It seems that there are a lot of wrap/sub-2 or L/O guru investors down in Texas, none I know about are compliant and wrapping a deal in a consumer matter, you'll never be compliant with your financing disclosures, the APR will be off as the two loan amortizations will not match the application of principal and interest when your buyer does this as separate obligations in one loan.

I was told because I am using 1031 exchange money for this property that I can not receive any money back after closing or if I did it would go back to the 1031 company then it would be disbursed back to me and I will have to pay taxes on it.Because of this they are applying the security deposit to the principal because I can not receive any money back and it is in the purchase contract that I receive the deposit.

They are used to spending money but not saving much and when the income goes away they keep living a way in which they have not set themselves up to keep affording.I am an investor and a principal broker but I do commercial real estate and love it.