Example:
You have secured a listing on a home, and a prospective buyer
can't get the total loan amount requested from the first mortgage
company. How can you save the sale?
Solution:
Perhaps the seller of the home would be willing to make you a
privately held second mortgage, if he could sell this mortgage
for cash at closing.
Example:
You have a listing on a house with an assumable NE/NQ FHA or
VA loan, but the equity needed to assume the Loan is too high for
most buyers.
Solution:
By providing a seller-financed second mortgage or wrap to
complement the FHA/VA first mortgage, you are more likely to find
a buyer who has the necessary cash downpayment to assume the
first mortgage. At closing, the Seller can sell the newly created
second mortgage.
Note: If you know of a holder of a second mortgage, or if you
know an owner, in order to sell a property, decided to accept
part of the purchase price in the form of a Note, please tell
them to contact me if they would consider selling this Note.
Contact David Protiva now.
Creating a new Note to be sold
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