Posted on: 12th Mar, 2009 07:10 pm
I own two properties. One is paid off and the other we have mortgaged. I wonder about owner financing. Tenants at both places would like it. Am I able to offer this only on the property I own free and clear?
Hi bestb
Your query has been answered in the given link:
http://www.mortgagefit.com/know-how/about19180.html#82268
Take a look at it. Hope it helps you.
Thanks.
Your query has been answered in the given link:
http://www.mortgagefit.com/know-how/about19180.html#82268
Take a look at it. Hope it helps you.
Thanks.
often and most of the time you are ok. But you will want to be careful that recording the mortgage will not trigger a due on sale clause with your lender. Most of the time, if the mortgage has and is being paid on time the lender will not bother you but you can not bank on that.
Check your original loan paperwork, and call your lender to check. But, if you call your lender... it may get them looking a little closer.
Just being honest, a lot of folks do it... but is that the safe way to go?
Ask your lender...
Best of luck!
Check your original loan paperwork, and call your lender to check. But, if you call your lender... it may get them looking a little closer.
Just being honest, a lot of folks do it... but is that the safe way to go?
Ask your lender...
Best of luck!