John, sorry for this basic question? - Posted by JLM


#1

Posted by JLM on November 20, 1998 at 21:26:10:

I just read your article on wraps. My question is how do you refinance a wrap mortgage. My understanding is that you have two notes that you are paying from a property. You sold the house with a wrap to keep the spread and create cash flow. Since you do not own the home, just the note on the home, how do you refinance it? Also, when you create this wrap, do you put the property in a trust first so the lender does not know that you do not own the home anymore. Very interesting concepts, wish I could afford your courses right now.

Thanks,

JLM