Posted by phil fernandez on March 01, 2001 at 09:23:27:
Not a dumb question at all. Cash to mortgage is the amount of cash you give your seller above the amount of the mortgage balance.
If you perhaps buy a property subject to the seller’s $50,000 mortgage and agree on a purchase price of $55,000. You would give the seller the $5,000 in cash and take his property subject to the $50,000 mortgage already in place. You have just bought a property with $5,000 cash to the mortgage.