L/O Question About Covering Mortgage Of Seller
Greetings, I am curious what number you use when you say you'll cover someone's mortage with a L/O? Do you just cover the principal/interest, or the whole PITI payment? How has this actually affected any of your deals, in regards to classification as sale, or other things with the seller, or some money hungry gov. entity? Thanks.
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You are just making a rent payment. I normally cover everything if it's included in the mortgage payment. Otherwise, the Seller pays taxes and insurance.