No attorney know wrap around mortgage

3 Replies

Hello BP, i want to do a wrap around mortgage by getting the property from seller & find a buyer, but no attorney in the areas have any experience in this transaction. Do you think its a good idea to find an attorney, explain to him my needs & allow to do some research before i actually look for motivated seller?

@Dante Goh - I would. You want o make sure what you are planing to do complies with the state and local laws. If you are having trouble finding one, you may want to attend your local REIA and ask around

Originally posted by @Brie Schmidt :

@Dante Goh - I would. You want o make sure what you are planing to do complies with the state and local laws. If you are having trouble finding one, you may want to attend your local REIA and ask around

I see. 1 more suggestion please. Other than local REIA?

If you go through a title co for the closing and title insurance, heck with your title co. You don't necessarily need a lawyer to do an All inclusive note and deed. Many title co's will do them as well if they are familiar with them.

Jeff