refinancing w/ a note? - Posted by Alicia


#1

Posted by John Behle on February 26, 1999 at 12:53:53:

J.P. Vaughn wrote an article on how to create a note in the “how to articles” section. It’s near the bottom of the page. Start with that and see if the process and steps make sense to you and then post any followup questions here.


#2

refinancing w/ a note? - Posted by Alicia

Posted by Alicia on February 26, 1999 at 11:14:38:

We own a 2-family flat, and in the three years since we’ve been here I’ve seen sales on comparable properties go from
70 to 90 K to 117 to 135 K…

Can we use paper financing to take some equity out for
improvements?

Thank you.


#3

Re: refinancing w/ a note? - Posted by Budf Branstetter

Posted by Budf Branstetter on March 03, 1999 at 22:16:53:

You might want to look into Title I loans.


#4

Re: refinancing w/ a note? - Posted by Alicia

Posted by Alicia on February 27, 1999 at 10:36:14:

Hello, Thank you for your response. Yes I do understand that concept. Since I don’t have an enormous amount of equity in my residence, I gather I would need to create a second mortgage? (80K owed,
appraisal could be 110K based on most recent comps,
improvemens, etc.)
So, would I get an appraisal, or does the note buyer
simply use a BPO? …
I appreciate your help.
Alicia