Posted by Bud Branstetter on December 16, 1998 at 22:09:16:
If you want to sell the 2nd it will not be worth much in the beginning. After some aging you may be able be able to sell some of it such that the total loans does not exceed 85% or in certain cases 90%.
You would probably be better off to find a mortgage broker that can get them a 90% or better loan. The other alternative would be to trade the note for equity into another property. You can get full value that way.