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June 19, 2021, 04:56:36 am
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June 19, 2021, 04:56:36 am
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Author Topic: Do you think is safe to do Owner Financing ( 2do.Position ) in today's market?  (Read 1064 times)

Offline isacaro

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Hi all:

I got a deal where I found an end buyer who needs a hard money lender. He just can come to the table with 10%. He is looking for a higher loan amount, payable in less than six months according to him. At this point I guess he just can get up to 75%. So, I am thinking to put the rest ( 15% ) as owner finance and put a second mortgage against the property to protect this15%( get a loan or bring someone who can charge this end buyer X amount of money ). He says once he gets ttile of the property, he will get an FHA loan to re-pay the hard money lender, and me. I am very scared to be in second position on this market. Please help me, my deal must close on 11/15/08. I don't know what to do. If you have any resources to get to my end buyer a higher loan amount, please contact me. I will so much appreciated.

Isacaro

 




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