Updated almost 16 years ago on . Most recent reply
owner financing suggestions
have a 4 unit property that i'm thinking of seller financing...price--145,000....terms would be 10% downpayment, 8.5% interest amortized over 25 years w/ 5 year balloon...any suggestions?? i get that at about 1,003/month payment...does this sound about right..or too nice? i don't want to screw someone into a deal where they will lose money...i'd like it to be profitable for them as well...then again, i need to make it worthwhile for me to hold the note..also, i've heard HUD is eliminating seller financing, but my attorney hadn't heard of this...am i good to go?? thanks
Most Popular Reply
George, I have been trying to get in touch with you for months already for the return of "underwriting fee" you charged my investor upfront to get the loan "started". You had told my investor "the check is in the mail" over 2 months ago. The cell number I have for you seems to be disconnected, the promises you made to her about getting it funded and already having a lender were UNTRUE. As you verbally stated as well as written in email the upfront fee is refunded if you CANNOT come thru with lending source! Please contact me so we can arrange a refund for my investor that was promised the world and delivered no results. I am sure you will agree George, that is not good business.