Owner financing problem? related questions

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Owner financing problem?0Breauna2012-08-14 05:27:38
Hello , I am referring to an agreement on the sale of my motel. the buyer wants the owner means of financing the purchase price in a balloon loan , the loan amount is due in 5 years , and each month I will pay interest only. However, will the owner of the second lien. it will borrow from the bank for a loan for more than the price I'm selling. This is because it is going to borrow money from the bank to fix the place too. then the bank will give you a check for half my selling price to the title company , then title company , use that money to repay the loan you have now , then I will get the difference, which will about 20 % of the amount of m selling . my question is does it sound good if he is the bank loan for an amount greater than the amount I am selling the motel to him? the loan that the bank will borrow more in the period of more than 25 years , my balloon mortgage is only 5 . what gets me in a unique position as head of security a second mortgage ? I mean if you can not pay the loan to me in five years , what is the chance to get my money ? Thank you.
Owner-financing our home and owner will no longer carry the note. Will we have to repay the tax credit?0Dave2012-10-19 19:04:11
It took almost a year to receive a tax credit of $ 7500 for the house he bought in 2009 . The received today , the same day he learned of the house owner and does not carry the note. If you can not get a loan on our behalf , we will be forced to move. Will we have to pay the tax credit?
Anyone know anything about owner financing?2michale2012-09-19 04:08:02
ok.i have a friend ( just inherited a lot of $ $ and paid for his house and bought a new one) I want to sell the old house. but as I self-employment income and I can show I can not gat a loan. I wanted consoladate and you still owe on my house and cars 2. I was thinking if I consolidated my monthly payments go down , but the bank still wont give in. thus agreed to such co - sighn for me or put a small cd against it or something. but also said it would be best for me own finances , and may even consolidate everything to me ( as the purchase total debt + +5 G to work in the new house will only belike55K ) with the new house probably apraising like 40 - 45K . but I would like to have everything else free and clear that this is the best option for me, I think I'll make my payments and is a real mother and friends I've known her for like 14 years now for the trust is not a problem (either my way of thinking) but ne way I can find Where good information and you want to read it b4 doing something and I do not know how to a contract or what is included in that. Oh , I think I can get interest free too (friends of my mom if she strengthens ) or maybe she sighn again with a lein with a contact for financing within a year or two ( would) , of so any ideas?
Anyone know anything about owner financing?0soasi piutau2012-08-18 12:42:03
ok.i have a friend ( just inherited a lot of $ $ and paid for his house and bought a new one) I want to sell the old house. but as I self-employment income and I can show I can not gat a loan. I wanted consoladate and you still owe on my house and cars 2. I was thinking if I consolidated my monthly payments go down , but the bank still wont give in. thus agreed to such co - sighn for me or put a small cd against it or something. but also said it would be best for me own finances , and may even consolidate everything to me ( as the purchase total debt + +5 G to work in the new house will only belike55K ) with the new house probably apraising like 40 - 45K . but I would like to have everything else free and clear that this is the best option for me, I think I'll make my payments and is a real mother and friends I've known her for like 14 years now for the trust is not a problem (either my way of thinking) but ne way I can find Where good information and you want to read it b4 doing something and I do not know how to a contract or what is included in that. Oh , I think I can get interest free too (friends of my mom if she strengthens ) or maybe she sighn again with a lein with a contact for financing within a year or two ( would) , of so any ideas?
Owner financing a small business?0Teresa2012-10-02 05:26:02
I bought a business and pay 10000.00 down and took over the payment . Later I learned that the loan was not in force at the time of closing. They also took my payment for 6 months and pay the lien holder . Stop paying them now think they can take me to court. Can they do this ? Also at the close of all the parties agreed that all loans were current. This was part of the verbal agreement so we can take over the business .
Can I co sign on a car loan to get out of owner financing?0↗ イ Kuo forward to Estate 〆 2012-09-21 06:07:03
I am currently receiving monthly payments from a friend to buy my car . They have bad credit for a year of bad career moves credit 3 years ago . In recent years they have made ​​payments on your bills on time , but keep your old accounts not enough credit to qualify for a car loan . MedlinePlus MedlinePlus I'd love to get $ 6,000 for a loan even if I am a co-signer on the loan compared to getting paid $ 200 per month until paid . Is it possible to own a vehicle , and the vehicle is sold to a friend , cosign a loan with them ? I understand the risks of co-signing , just wondering if this is possible ? Thank you !
Financing a fixer upper for owner improvement?0Oma2012-09-16 18:46:05
I want to finance the purchase of a single property in Kentucky that needs some repairs and improvements that I would do myself . MedlinePlus MedlinePlus Will traditional funding sources require escrow funds to repair or take a construction loan ? My goal is to have only the mortgage payment and finance the repairs of your pocket so you can work at my own pace ( and not take interest in a construction loan ) . I work in construction and can complete most repairs myself, I just do not have the money to buy the house open and make repairs.
Help with Owner Financing Offer for a small business?0Leopold2012-08-07 17:34:03
I need to get some realistic ideas to present to the owner of this coffee shop we are trying to buy. The current owners are entertaining the idea of ​​part of the loan to help us , it would be awesome , but want to know what terms we are thinking. I'm not sure how this works and I do not want to present something crazy and freak out .
Can we do owner financing if the home is owned by a bank?0John Wilson2012-10-27 08:52:58
We are currently renting a house and want to buy the house but our credit rating is low . We talked to our landlord about buying the house and our credit problems . He said he would try to do owner financing , but I do not think the landlord is . I think the bank still owns it. Can do Owner Financing ? or is there any other way we can be able to get a loan ? I have some money for entry , but not much . I'm pretty sure we will not qualify for a traditional mortgage loan .
I need legal real estate advice on owner financing?0Kaley2012-11-05 17:30:05
I set up a contract with 1-800-CASHOFFER. I was under the impression that they would locate a tenant and that tenant would be responsible for monthly payments.If their tenant failed to make the payments then I understood that CASHOFFER would make the payment.Well, their tenant has only paid 1 month of a 4 month occupancy and since the original loan is still in my name, their failure to pay is a direct reflection on my credit. Now the mortgage company is threatening foreclosure.Please help, I have all contracts,documents, and e-mails available. Thanks in advance.
One car, 1 owner, 1 co-owner, can the owner give power of attorney to someone with out the co-owners consent?0Avishek Chandra2012-09-29 18:08:02
a fellow 19-year -old signed a car loan . The principal signer has left the country , but his daughter continued to pay for the car , but could not do at the right time making the 19 year old who have bad credit history . The year 19 years old , 22 years has taken possession of the car and made ​​the payment that was behind . She is a student and partime worker , can not afford the car , but she did not want to go to the inauguration to his credit , does not sell or refinance to keep your credit clean. She says she has power , but the co - owner was never aware until today . Is this legal ?
What happens if I can't secure a loan on a balloon payment on a contract for deed (owner financing) on my home?2ONEOFMANYBOB'S2012-10-23 17:57:02
What if I can not get a loan in a lump sum in a works contract ( owner financing ) in my house ?

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