Posted by Nate(DC) on January 09, 2003 at 22:44:27:
No, you can’t. The bank will not advance more than 100% of purchase price.
NT
rookie needs advice on 2nd mortgage - Posted by Bill
Posted by Bill on January 09, 2003 at 20:01:54:
im pre-approved for 50,000 and i want to buy a 40,000 double and what i want to do is give the seller 20,000 at close and have the seller hold a private 2nd for the other 20,000 and use the 30,000 to re-invest…my question is can i even do this… I would appreciate any advice on how that works…thxs