Wraparound Mortgage In TX
Working deal with seller who has 150k w/6.5%, put 8k down, lender financing. House barely a year old. Most comp houses have been selling at or around 150 range, considering new subdivision. Owners are behind 2200.00 (1100 x 2 mos payments)_. Owner just wants out... Should I purchase by sub2 or wraparound mortgage once I find tenant/buyer? And when I do find buyer for wraparound, what
documents do I use to accomplish this and does this transaction have to be recorded?
[ Edited by jguel27 on Date 12/07/2006 ]
[ Edited by jguel27 on Date 12/07/2006 ]
[ Edited by jguel27 on Date 12/07/2006 ]
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