Posted by Joseph Melvin Jr on March 19, 2001 at 16:58:21:
To the point, some owners simply want to get from under paying a note. If they have you to pay the note and they are getting a percentage monthly they are happy. There is some risk that the buyer may default but the second mortage holder can forclose and keep the property if he/she has been tracking the monthly payments. To catch all of what Carlton is saying you may have to do like I did and listen to the tapes/cds three or four times. I may have to listen to him again myself… Remember; What does not bankrupt us makes us richer.