Performance mortgages (newbie question) - Posted by Rico

Real Estate Investing
1

Posted by Michael on March 03, 2001 at 19:11:02:

Rico,

A performance mortgage is a mortgage that you have your seller sign to secure performance on his/her part.
It’s a seperate mortage that you will record so that in the event that the seller defaults you can foreclose
causing him to have to fight in court.
Bronchick’s lease option course has a performance mortgage.

Best of success!
Michael KY.

2

Performance mortgages (newbie question) - Posted by Rico

Posted by Rico on March 03, 2001 at 17:21:29:

Could someone please explain exactly what a performance mortgage is and how it works? I don’t know if I understand this aspect of doing L/O deals.

Thank you for your time.