Updated over 6 years ago on . Most recent reply
How does equity work?
Ok lets say someone has a mortgage.
And his mortgage is 250,000
He is willing to sell it to me for 200,000
But his mortgage is 250,000. What does it mean? There is no discount? There is no quity? Cant i just get th3 house and pay 200,000 and he pays the 50,000 left?
Do i have to get a house where the person has already paid some of the property?