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Posted by JD on December 02, 2001 at 21:51:17:

Sorry for the Cut & Past post but My curiosity is killing me.

Ok I know how to do some of the math. Here is one for you and tell me if I am barking up a new seminar. Say I found a home that is worth 100K and I can pick it up for 70K (the balance of a mortgage) Say If I find a buyer for the property for 100K and 10K down that would leave 90K. If I create a note say for 90K and want to sell the Unseasoned payments (if I can find a buyer, I think this is where I am dreaming)to payoff the 70K

The note looks like this

$90,000
Rate 11% term 360/360
Need 70,000 for the lender
Payment is 857.09

Now if I need 70K and if there is a desire yield ____ (fill in the blank) how many payments would you give up?

Of again am I dreaming. This is a little hypothetical but I have access to a builder who builds homes and is wanting to get rid of some inventory. I hav approached him with a Simul closing but he asked me about selling partial payments

Thanks
JD

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