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| Re: Question about notes, discounted mortgages |  | ||
| Re: Re: Question about notes, discounted mortgages -- RobP | Post Reply | Top of Thread | Forum |
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Posted by: Ofir Vaisman ® 02/27/2005, 07:13:00 Edit |
Not sure if i can use a note as a down payment still. Someone told me I would just need a receipt from the seller stating I provided him/her with the down payment. Would this work? How does seller financing normally work if this is not the case using a second mortgage? Do you make the seller take a second mortgage and you as the buyer make the payment? That wouldn't work unless the second mortgage interest rates were the same as the first mortgage or at least close it it. Wouldn't work in my case as I want to keep the property as an investment to rent out and get a bit of cashflow. SO paying for both my first mortgage and the seller's second on the property using an installment note wouldn't work unless i'm not understanding how it works? Can anyone please help on this issue. my email is ofirvaisman@hotmail.com or just reply to the thread. Thanks so much in advance |
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