Posted by Tony James on December 30, 1999 at 24:07:56:
I have this house I want to sale. A Nonprofit want to buy it and us it as a boarding house. The nonprofit has arrangements with local Temp agencies, and provide transportation to and from work for the people who room and board. They Are insured. They own another property. And they are willing to put the monthly payments in escrow to make sure the Payments are made each month. Also they will put 10% down.
What my questions are…How do you stucture a note if the borrower is a Nonprofit corp? Is the Credit based on the president? Or based on who?