Ivan Reyes
protecting yourself using wrap financing.
We're purchasing a home using seller financing and a wraparound mortgage. The seller is the owner of the house we've been renting for 2 years.
My question is what protections should I be thinking about to make sure t...
Brian Ash
Need Help Refinancing Personal Residence with No Income Loan
I'll try to be brief. I have a 30 year mortgage (3 years old) at 4.375% on my principal residence. Would like to refi to take advantage of lower rates. If I can keep a similar payment but change it to 15 or 20 years a...
Taprena Augustine
Seller w/ mortgage considering Owner Financing
Anyone have an opinion on Owner financing from the seller's perspective when the seller has a mortgage on the property?
Paul Boudreaux
Sub 2 Docs for that go to Lender
So, I have multiple Sub2 Properties, but I have noticed that later down the road the Seller (Mortgage Holder) wants to obtain a new loan to purchase another property and needs a letter or document showing that we are ...
Nithin Mathai
Subject to or Wrap Around Mortgage
Good night BiggerPockets Fam!,
I have been trying to learn about subject to and wrap around mortgages to try and help this elderly woman to sell her house. Don’t get me wrong, I am trying to buy it from her, but she...
Jay Koch
Owner Financing: Three Ways to Structure a Wrapped Contract
When a seller carries a note on a property, and there is an existing mortgage the parties have entered into a transaction referred to as "wrapping" the existing mortgage. The buyer agrees to pay the seller in monthly ...
Cody Lekberg
Lease Purchase vs. Owner Financing
I'm looking to purchase a home and was planning on having the owner finance 1/2 of the purchase price. I figured that I would put 50% and then have the owner carry the remaining amount and then we would have a balloon...
Char Prado
Seller Financing: How It Works in Home Sales
Seller financing -- when the seller gives the buyer a mortgage -- can help both home buyers and sellers.Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get ...
Sanjib Bharatia
Is refinance part of operating expenses
Hi
I know we don't take mortgage payment in operating expenses when calculating NOI or Cap rate, however what if the down payment is done by refinancing your another assert? Is the mortgage payment for this refinan...
Account Closed
Loan Payment Question
I am new to the forum so please excuse my inexperience. I am an 18 year soon-to-be college student and I am in contract to purchase a coop in NYC. I took out a 30 yr fixed for $265,000 and my parents are helping me ou...