It had not been released or subordinated.

Your liability with being involved goes with the term of the note, anyone involved can be brought into the problems after the closing until it's paid in full and released.2.

Where I am escrow won't release earnest money funds without the consent of both parties.I wouldn't want to be working with any sellers that wanted to back out that early on in the sale anyway.

An example, if you're wanting seller financing you might consider particial releases as you pay it down. :)

David Littleton Transactional funders typically do not require "non-refundable" EMD for back-to-back fundings, but typically do require somewhat larger amounts for extended term fundings, such as for 30 or more day holding requirements imposed by banks when they are the seller or are approving a short sale.

The only differnce between the two, is under land type, Owner 1 has the word 'Primary', while Owner 2 has the words 'Front Lot'.I went ahead and looked up each owners' name on the county recorders website to see what info it would yield.Owner 1 has an entry from April of this year that says 'Mortgage Release $11990'Owner 2 has an entry from October of 2012 that says 'Assignment Of MTG'Because I want to learn, time to see if my intuition is on.I think I should be contacting owner 1 as they had the most recent entry and that entry was 'Mortgage Release'.Calling all wholesalers who remember being new, lost but excited and determined.

We just released the first ever major book from BiggerPockets, "The Book on Flipping Houses" along with "The Book on Estimating Rehab Costs."

this was one of my first posts and cant express how surprised, and grateful i am, at the quick and helpful responses.i have a phone interview today at 4pm for Freedom Mentor's program (Phil Pustejovski). although, im reconsidering signing up, and taking your guys' advice; ill extend them the courtesy and hear them out, and make sure im not missing anything.

But it might be that the lower payment is due to extending the payoff period overall for the entire bunch.Now, it might make sense if you were going to buy more rentals with the proceeds of the refi - but that's a separate discussion.

It is a 5 year note with a balloon at the end, but the bank has an option to extend for additional 5 year periods instead of re-financing.