If anything, split your payments in 1/2 and pay twice a month, and/or pay more towards your principal whenever you feel like it.

So I have been researching making an extra principal payment every year and how it will cut down your mortgage to between 21-23 years.

Deposited money goes directly to loan principal.

Hi Guys,in FL,HOA is foreclosing on a house in a week - Lien of 25k.the property also has a 1st position loan (Reverse mortgage)  that also just started proceedings with no set date or "Final Judgement" numbers yet.On the details of the 1st reverse mortgage foreclosure, its only mentioned that there is 320k principal balance due.The original note of the 1st was issued 2009, with a total sum of 650k, payble up to 2081 (!!).

BS, those same deals stayed on your marketplace for months after you said they were taken down, and they were not even available anymore (a "principal wholesaler" in your marketplace even told me one of the properties was no longer available, and your team was CC'd on that email!)

You will recall that your Note allows Norada to convert the outstanding balance owed into equity and that it can redeem that equity in the future by repayment of the Note principal in full.Thanks for warning others.

Hey @Glenn Larson  You’re right, seller financing really depends on the seller’s flexibility and the specifics of the deal, but I can give you a couple of typical structures to think about:Interest-only payments: In this setup, you pay the seller interest on the loan without paying down the principal right away, giving you time to stabilize the property or improve cash flow before paying it off or refinancing.Balloon payment: You might negotiate a lower monthly payment (possibly interest-only) with a balloon payment due after 5-10 years.

Here’s how payments typically break down:- **Principal and Interest**: This is the amount you pay to the seller based on the agreed-upon loan amount (purchase price) and the interest rate.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

And any loan basically at 65 to 70% LTV total if the first goes bad your going to take a huge risk of loss of interest ( almost guaranteed) and loss of principal..