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Mortgage Professor about seller: | |||||||||||||||||||||||
Are Mortgage Assumptions a Good Deal?
November 17, 2003, Revised December 20, 2005 ?I have been offered a deal where I take over the home seller?s mortgage. What are the pros and cons of doing this?? Benefit of Mortgage Assumptions to Buyers When a homebuyer assumes responsibility for a home seller?s ... more... Are House Seller Contributions Kosher? July 10, 2000 ?I offered $289K for a house but was not able to make a down payment. The seller?s realtor told me that so long as I could pay all the closing costs, they would find a way to contribute 5% toward a down payment. When we sat down to sign the ... more... |
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seller related definitions |
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Wraparound Mortgage
Wraparound Mortgage Mortgage Loan which provides a buyer with the amount of the remaining balance on a seller's mortgage plus an additional amount which is requested by seller as part of the contract of sale. Payments are made to the lender who holds the wraparound loan. ... more... Closing Closing The meeting between the buyer, seller and lender or their agents where the property and funds legally change hands. Also called settlement. Closing costs usually include an origination fee, ... more... |
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More about seller Key Terms to Know When Buying a Home What You Need to Know to About Your Mortgage Transaction Seven Steps for a New Home Loan Purchase Buying Houses: Types of Bargains to Find How To Create A Business Note That Is More Attractive To A Note Investor 3 Strategies For Buying Property With No Money Down Understanding Real Estate Terminology 10 No Money Down Ways to Buy Real Estate You Make Your Real Estate Profit When You Buy Negotiating and Sales Skills Are Critical
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