What are the MN redemption rights for second mortgage holders?

I paid $48K for one and $52K for the second one.

We are looking for a second house and trying to decide on the type of loan.

I am not saying we should settle for second best but are we at the point of no return?

The 'experts' are saying this is the worst or second worst situation we have ever faced as a country.

But, most folks will have a mortgage on RE, so lets assume a payment on a 7%,30 year note:Payment: $299Cash flow: $251/month, or $125/unit/monthLooks like a good deal.The second one has estimated NOI of $683.50/month, cash flow of $384 or $128/unit.

Hi Mike,You've got a lot in the way of questions so I'll take the first one and leave the others for another investor to answer.With a contract for deed you're entering into an agreement with the seller to purchase their property under whatever terms you're able to agree to.Pretend for a second that you have a house for sale and I agree to purchase it under the terms of a contract for deed by making payments of $1,000 per month for 10 years.

He has a second lienholder willing to a pay-off a $90,000 note for $10,000.

No one would make a loan the second they received the form.

Mark to market forces these companies to adjust the value on their books to $100M, not $200M that they've been using.Look at the stories here about short sales, especially on seconds