2nd mortgages WHAT YA THINK - Posted by DISMAIL

Posted by Todd on December 20, 1999 at 05:10:32:

Thanks, I appreciate the answer.

2nd mortgages WHAT YA THINK - Posted by DISMAIL

Posted by DISMAIL on December 15, 1999 at 20:13:18:

I work as a loan officer for a mortgage broker. We sometimes create 2nd mortgages to get the job done. How useful will it be to try to get that seller to sale that 2nd mortgage after closing. Are there any buyers for unseasoned 2nd mortgages. What ya think ???

Thanks in advance

Re: 2nd mortgages WHAT YA THINK - Posted by Keith Lewis

Posted by Keith Lewis on December 15, 2000 at 12:26:05:

  • We will purchase second mortgages that are currently up to date. Please call me ASAP 312-977-0101.

Re: 2nd mortgages WHAT YA THINK - Posted by Sean

Posted by Sean on December 16, 1999 at 09:30:21:

I think you have a tremendous advantage over many because you know those mortgages are not “silent seconds.” As such you know these mortgages have already passed one of the many hurdles to being a good investment. The downside is that many of those mortgages will be for over 80% CLTV many times up to 90% CLTV. As such, for all intents and purposes, they are unsecured loans. Make sure you get a yield sufficient to make it worth your while.

Also keep that list of note holders… - Posted by DanM(OR)

Posted by DanM(OR) on December 16, 1999 at 10:02:09:

in a few years, assumming that there is appreciation, the CLTVs will be much lower. Maybe even lower than 85% CLTV. That would make them more valuable.

Any chance of compiling a list of these people back a few years? Might be worth your time.

Best of luck to you!

Dan Matejsek

Re: Also keep that list of note holders… - Posted by Todd

Posted by Todd on December 18, 1999 at 23:24:26:

I hope that I’m not displaying too much ignorance when I ask this, but what does the “C” stand for in "C"LTV?

Newbie…Thanks.

CLTV stands for … - Posted by Mark Kohn

Posted by Mark Kohn on December 19, 1999 at 22:12:45:

Combined Loan to Value. Total of All loans on the property compared to the Value.