Owner financing and creating the mortgage - Posted by JD Orlando
Posted by JD Orlando on July 19, 2002 at 08:52:23:
I have been reading many of the posts and have not found the answer I’m looking for.
I would like to use owner financing to sell my next prop. My questions are:
- Can I create a mortgage with a standard mortgage form?
Now, I want to be able to sell that 1st position to a note buyer, so I create a second mortgage.
- Is the second mortgage created with the same contract I used to make the 1st(Not on the same 1st mortgage, just using the same contract).
The forms I have are from the Carlton Sheets program. There is a standard mortgage contract to use.
If I have left out anything please feel free to ask ?'s