Real Deal #153 – Split Payment Partial Rescues Note Purchase
March 16, 2009 by Tracy Z · Leave a Comment
Welcome to Real Deals! It’s always easier to learn from real life so here we share information from actual owner financed transactions.
When the mortgage balance is greater than the property value a partial purchase can rescue the purchase of a seller financed note similar to this real deal in Texas.
Partials – The Secret Weapon to Underwater Mortgages
March 15, 2009 by Tracy Z · Leave a Comment
Almost 1 in 5 owe more than homes are worth, screams the headline from Time Magazine. Across the nation declining property values are creating negative equity with some hard hit areas like Las Vegas reporting a 1 in 2 chance of being underwater with a mortgage in excess of property value.
Mortgage lenders are reeling from increased delinquencies and mounting losses as borrowers opt to just walk away. While the seller-financed industry is not immune, it does have a secret weapon for dealing with negative equity – the partial purchase. Read more
