Lease/Option: 2nd Mortgage? - Posted by Tyrone

import · January 8, 2003, 6:51pm

Posted by Tyrone on January 09, 2003 at 14:51:18:

What does a “Performance Morgage” do?

import · January 8, 2003, 6:51pm

Posted by Tyrone on January 08, 2003 at 19:51:25:

While you have a Lease/Option agreement can the mortgage holder/seller get a 2nd Mortgage? If so, what can be done?

import · January 9, 2003, 10:50am

Re: Lease/Option: 2nd Mortgage? - Posted by Todd

Posted by Todd on January 09, 2003 at 11:50:30:

You can take some steps to prevent it from happening. You could record a memorandum of option agreement which puts a “cloud” on the title but has been known to be over looked or you could record a performace mortgage which is more secure.