Hi All!
Pretty basic question: When you take title to a property S2, how does that affect the seller’s ability to get a new mortgage (on another property)?
I mean, I understand that if they are holding a signed lease, that will keep this mortgage from messing up their debt-to-income ratio, but how does this work in an S2 deal?
I think I have a motivated seller here, who might be open to S2, but they’re relocating and would have to buy another property soon.
Thanks for any input!
Vinny