2nd Lien A Soft Second Of Forgivable Story
Just curious, what you guys thought about the following:
Sales price is $100k
Take a 90% 1st Conv. Loan
Get the Seller to take a soft 2nd for 10%.
Now I had the Seller to agree to an actual sales price of $90k and to eliminate the 10% investor down payment I am getting the Seller to create a Forgivable 2nd. Does anyone have any feedback?
Also does anyone have any suggestion how to eliminate my closing costs as well.... Raise the sales price by 3% and get the seller to pay for them????
Comments(0)