Updated over 10 years ago on . Most recent reply
Purchase Home Affordable Modification agreement
I need help structuring terms to buying (if possible) a residential home that has a HAMP loan.
The loan was started in 2012 and has a balloon note due 2035. Owner has made payments on time but is in late 80's and want to sell.
Owner wants cash. I don't know if it's possible because of the balloon note, and I having difficulty comping present value of loan.
Owner is waiting for my offer