Posted by Tom Brown on November 20, 1998 at 15:33:57:
Does this guy have a brother? lol
Help ASAP! - Posted by John Katitus
Posted by John Katitus on November 20, 1998 at 13:52:30:
At a Newsgroup commentor’s urging, only to guage response, I put an ad in the paper:
Cash Needed - 12%, Secured, 48 Months
Just took the first call. The guy just got a 300K insurance settlement and wants to give me 100K for the full 48 months.
I have properties to give him second mortgages that will cover without exceeding 80% LTV.
What papers should I get to sign with him? Should the loan be amortized or just interest? Reinvest interest? What else?
Please help! Don’t want to lose this and am not sure how to proceed. Thanks.