Posted on: 16th Mar, 2009 08:34 am
My family and i have talked to a place that does private investing. We put up 30% against his 70% to buy the house in cash. We pay him 1k a month on a 150k house for 5 years. Then after 5 years we refi and pay him back his 100k. He says from the 1st day we buy house it will be in both our names. How safe is this? Have u heard of this before? Thanks.
i just answered this on the Mortgage Know-How forum. Please don't post the same question on multiple forums, as it only increases confusion.
Check out the following link:
http://www.mortgagefit.com/loantalk/private-investor.html
Your query has been answered in that link. I hope it will help you
http://www.mortgagefit.com/loantalk/private-investor.html
Your query has been answered in that link. I hope it will help you
