Posted by Keith on October 04, 2001 at 07:46:38:
This is a six month balloon with no monthly payments.
They are planning on sending the money to my PO Box.
With this in mind if they make a few payments and then
stop I am not at risk for being late. If at the end
of six months they have not payed me completely, I
will just take what they have given me, pay down the
note and refinance with monthly payments and rent it
or something. That is my view on it. Am I missing
something? Would I still have to go through
forclosure to do this? Will you explain qualifying and wrap vs assume?