Posted on: 10th Jul, 2008 10:26 am
Would a traditional lender finance a portion of a loan, with the owner financing another portion?
yes some lenders will allow a second from the seller but it is program specific and there are restrictions on what can be done and how much can be contributed.
What are some of the problems for the seller accepting a partial mortgage on his property?
Hi Roberta!
Welcome to forums!
If the seller accepts partial payments on mortgage towards his or her property, then the seller will have to pay off the rest of the mortgage dues from his or her pocket. Thus, the seller will lose on his or her money.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the seller accepts partial payments on mortgage towards his or her property, then the seller will have to pay off the rest of the mortgage dues from his or her pocket. Thus, the seller will lose on his or her money.
Feel free to ask if you've further queries.
Sussane
Roberta, can you elaborate on your question, please? I certainly didn't quite comprehend what you meant by a partial mortgage, and I think Sussane's answer is off the mark based on what interpretation I am able to make. If you clarify, you'll get a lot better response from everyone.
