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srb profile photo

There you go, did you not understand what I just said ? cool grin Just kidding - seems like you need gimmicky titles to get people to read your posts. (Hmm....that gives some hints about marketing !!)

BTW, my question is this - $Cash$ says that for Sub-2 we must seek out homes (& mortgages) that are around 2-3 years old. Now, I am not too familiar with clauses in mortgage contracts - but won't banks have a pre-payment penalty on these loans?

In other words, how can we ensure that when our buyers refinance in 24 months and the original loan is paid off we (or the original sellers) are not hit by a large penalty?

Thanks, "B".

Comments(2)

  • loanwizard15th August, 2003

    Read their mortgage. The contract says it all.
    [addsig]

  • JohnLocke15th August, 2003

    srb,

    $Cash$ has been on the road heading for Orlando, Florida, he asked me to sit at his computer till he arrived there and got back on the net.

    So I couldn't read the title of your post or what loanwizard replied, hope I didn't do anything wrong.

    But I bet the loanwizard had the right answer to whatever your question was.

    Stevie Wonder

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