It is common for commercial loans to be specified in LTC because people don't want to have these debates when the bank can vary their underwriting parameters.

This is extremely frustrating when the buyer knows about the needed repairs, and the property is priced accordingly.

Hey Randall,Unless its just something you want to do and pick up extremely cheap, I would pass.

I must admit that I look at things differently now than I did years ago.I had the option of paying cash for my new residence I bought or getting an extremely low interest rate loan six months ago.

His stuff is all common sense and nothing new.

I'm extremely leery of allowing additional people to move in.

What is the most common method used by your tenants?

Unless it is extremely difficult to find anything closer to your hometown.

In extreme drought conditions, you might see these tunnels hanging from the ceiling like ice scycles.

There are 3rd party loan administration companies that will also "professionalize" the loan transaction, and give the lender more peace of mind.Many advise, for the security of the lender, that you execute a couple of additional documents: (1) document permitting the lender to deed the property to themselves if you are more than xx days late on the payment (often 30 days), and (2) an assignment of rents, allowing the lender to intercede with the tenants and begin collecting the rent directly if you are more than xx days late on the payment (again, 30 days is common).