What response do you use when a seller fears that they will not be able to get a new mortgage if they sell their home to you on a L/O or P/O? I have heard that a bank will give 75% of the value of the monthly payments they have coming in towards their debt-to-income ratios in order to qualify them for their new mortgage.
I have also heard about a document that allows the seller to receive 100% on the monthly payments.
Could someone explain this or offer some direction?
Thank you in advance.