Mortgage Note question - Posted by Matt
Posted by Matt on February 06, 2002 at 13:49:39:
As I am new to this game can someone explain to me if this request sounds like the person holds a mortgage note? I am not sure what he means by he creats notes?
below 80% CLTV exposure
interest at 21%
can be seasoned and verified through 3rd party escrow
balloon payments set between 12 to 24 months
secured by real property
majority of these are in the Arizona market.
I am in the process of creating a note now.
1st mortgage is 128,000
2nd note that I am creating is $10,000
home is valued between 180,000 to 200,000
payments of 376.75
amortized at 36 months
balloon in 18 months