Posted by Michael Morrongiello on March 28, 2003 at 13:33:13:
In Reply to: Re: Is the market still good for finding notes? posted by David Alexander on March 25, 2003 at 00:52:56:
Low interest rates are certainly one factor that can change the Ebb and flow of seller financed "paper" into and out of the marketplace - however as long as I've in this business (20+ years!) -its the qualifying criteria nuances that lenders put forth that invariably kick borrowers out of the box when it comes to closing their loans.
The old saying: "you can't pound a round peg into a square hole" is a constant reminder to those in the Loan business, that mortgage financing is UNIQUE to the circumstances of the transaction itself.
Seller financing a property will CONTINUE to be one alternative way to get deals done as oppose to the more traditional "round peg, round hole" mentality of other mortgage lenders and their variety of products.
Best to your success,
Michael Morrongiello