Secondly, 9% is probably as easy to get as 8.5% and it will give you room to drop the rate if you need to to make the deal.You really need to look into having the loan serviced, I've ritten about that here several times, it will provide verifications for refinancing as well as selling the note.

I have some information of what is illegal.Definition of "Illegal" Flipping:This is from FannieMaeProperty Flipping - Illegal property flipping occurs when a property is refinanced or resold immediately after purchase for an artificially inflated value.

When refinancing what costs are involved and what can I do to make sure they will refinance me?

A couple of years ago I still had 8 seller financed sales in town but 3 have refinanced since late 2007.Because they had a fair amount of traffic in the high $70K range, both when trying to FSBO and had it listed for $83K, later reduced to $79K and got traffic, but everyone was looking for seller financing.

Refinanced debt proceeds used for the purpose of substantially improving your principal residence also qualify for the exclusion. 6.

Greetings,Re: Refinancing Questions Currently, I/we have a 30 Year Fixed Rate VA Backed-Mortgage at 5.5%.

^^^exactly, you word for word called out the whole situation. 40,000 IS the payoff on the existing loan. no way im giving anybody 40g on a owner finance, like you said. im gonna call the owner direct, and work out a lease purchase or a balloon owner finance deal. he gets his money when i get refinanced, if not, like you said, bounce to a REAL deal.

A non-earning asset is only better than a liability, until it's sold or refinanced!

(Our equity is close to $500,000) We’re thinking of “hard money†in view of the time urgency and the fact that we probably wouldn’t qualify for a conventional loan anyway. 2.Is “hard money†only for financing/refinancing the whole mortgage, or can it be used as a second mortgage?

The only problem is that you still have to deal with a bank to get refinanced!...