Payment Protection?? - Posted by MikeM

Posted by TRandle on January 28, 2000 at 14:44:30:

Just make the payments directly to the lender yourself. If the seller is concerned, they can call the 800 number to check the status each month until they are comfortable. If you are making payments for more than the amount due on the note, I would suggest separate payments. I don’t have much experience at this, but so far no one’s even questioned this procedure. I just matter-of-factly tell them that’s how it’s going to be. It shouldn’t be an issue…

Payment Protection?? - Posted by MikeM

Posted by MikeM on January 28, 2000 at 13:22:19:

If I buy a home on a lease/option purchase, how do I know that the seller will keep his current mortgage in good standing? What if he does not? How do I protect myself?