Instead of holding on to your loan and facing the risk of interest rate change (since bank receives fixed payment from you for 30 yrs in exchange for lump sum) - they will sell this (to someone who wants to submit a lump sum in now exchange for receiving fixed future payments for 30 years, like an insurance company).The bank is an intermediary between buyers and sellers of assets - they make a cut on the spread and transaction costs.

Ask away and you shall receive.

To add more injury to insult they asked me to provide my business and personal bank statements, to ensure that I was financially suitable to be making/receiving the type of money compared to the deposit they had on hold.

Only receiving commissions on your own stuff was beneficial , imo.

I use clearnow.com to collect the payments and I use ahswarranty.com to act as handymen to repair things, check into those 2 companies, I think they are a great asset to us investors.....for the record I receive no monies for referring those companies.But again, until you get started somewhere you can't expect to make any money.

For that to happen, the government will need to start defaulting on it's promises to all those that feel entitled to receive government handouts.Mike you should be an economist for the government with the power to do the things you suggest.Don, unfortunately I don't have the qualifications to be in Washington.

Hi, good outline Jay, but there is an easier way to accomplish two or more obligations in one document.

I really don't want to sell it using an agent right now, because the commissions would almost completely wipe out any equity we would receive.

She is sending me "enforcement documentation" that I should recieve later this week.

In the offer I specified a price, a downpayment, mentioned that it was subject to financing and satisfactory condo documents.