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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Sat, 23 Apr 2005 21:17:00 GMT
/ Author of the message: "Don" |
Title of the message: |
Re: What to charge for owner financed mortgage?
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Text of the message: |
Rip" <rippyd@hotmail.com> wrote in message news:1114283924.549480.53320@z14g2000cwz.googlegroups.com... > I'll ask my attorney this question, but do any of you know if there's > some way that other creditors could be in line ahead of me? In other > words, if they default on the loan after 18 months, is it possible that > some other creditor gets the house before me? Back taxes, maybe? I am not sure of the legalities, but there is a way to set up the loan so that you will get the property back, ahead of other creditors, if the borrower declares bankruptcy. At least this was true in California, where I did it some years back. I would say that you most definitely should have the loan papers drawn up by a lawyer. Personally I would not do it at all if this provision were not possible in whatever state you are located. . |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.