Updated about 6 years ago on . Most recent reply
Can I refinance then pay the seller?
Lets say that there is a homeowner that has a house worth 100k and he owes 50k but he has 10k in back payments but he is willing to let me take over his mortgage payments but he wants 10k. Which equals to 20k to get the deal. Can you pay the homeowner's backPayments and once you get the title, refinance and pay the seller 10k from his own equty?
Most Popular Reply
I don't see why not. Just have a real estate attorney draft the agreement in that manner.
Disclaimer: I've never personally done this, but it is my knowledge from research on the matter.
Best regards,