Posted by nick on September 25, 2005 at 18:04:48:
i have learned some about discounted mtgs. and thing they are a great idea. i understand how the note is bought at a discount and the profit to be made. but if i want to use a note to buy a property does the seller of the property get the monthly income stream or does he get a cash lump sum the same as if i got a loan from a bank. here is my example use a bank loan to purchase a 62000 property by buying a 70000 note at 80% for 56000 leaving me 4000 at closing, but does the seller get 70000 to pay off the purchase of the home or do they get a payment stream that they have to agree to?
- Re: notes David Butler 19:49:14 12/01/2005 (0)
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