HELP PLEASE - Posted by massamba fall

import · September 18, 2000, 4:10pm

Posted by Tim V. on September 18, 2000 at 21:58:49:

…why don’t you advertise house for sale, little or no money down. Draw up a contract with the new buyer at, say, $76000 and get a loan for 65% of that. Hold the difference in a third mortgage.
e.g.
sale price: $76000
First mortgage: $49400
second mortgage: $12200
your third: $14400 minus any down payment from your new buyer.
My .02

import · September 18, 2000, 4:10pm

Posted by massamba fall on September 18, 2000 at 16:10:31:

I AM A PART TIME REAL ESTATE INVESTOR. I HAVE A HOUSE UNDER CONTRACT FOR $61,000 AND THE HOUSE IS APPRAISED AT $76,000. BETTER YET THE OWNER IS WILLING TO TAKE A 20% SECOND. I HAD THE LENDER WHO SAID COULD DO IT BUT HIS COMPANY WAS VERY CONSERVATIVE, WANTED TO ONLY FINANCE 65%.
ANY LENDER OR INVESTOR THAT CAN HELP ME CLOSE THIS DEAL, PLEASE E-MAIL ME

THANKS

PS: I HAVE A GOOD CREDIT RATING