Performance Mortgage question....

when you do a sandwich lease option with a seller, do you create a whole new mortgage with the seller and attach the rider form or do you attach the rider form to his/her existing mortgage with the lender to create a lien on the property…

I use a stand alone form, and frankly, don’t see how you could add a rider or addendum to a previously executed and recorded mortgage or deed of trust.
The performance mortgage idea is to create a junior lien to secure your position in the sandwich lease option.

If you want I could forward a sample of one to you. Just PM me.

You won’t be able to use it, (cut/paste), because it has some hidden words in there to prevent copying and use.
But, it’s good to show your attorney to have them draft a locally compliant document.

Let me know.

Jim FL

oh ok thanks for your help, I was just confused by the way I’m also in florida