Posted by Bruce Barilar on July 11, 2002 at 22:35:39:
dave, if you have good credit, etc. I would go down to my local banker and ask for a commercial loan, interest only to pay off this guys first + 13,000 + closing + some 10,000 NOW cash in your pocket. They would be at 55%LTV. Have your seller then carry a second for what you owe him 34K. Use your own title company to do the documents. You should be able to close quick if you use a local portfolio lender (small bank).