Refinance after writing Land Contract
I may be able to sell a house on land contract. Has anyone gone to the bank and refinanced the existing mortgage after the land contract is in place? If so how does the bank view the land contract? I would have to show the bank the existing payments to get the loan approved.
My thought is if I got 10% down I could refinance the loan at the lesser balance with the down payment and lower the payments. Thus create a larger spread between the land contract payment and my mortgage payment.