Applying for Refinancing
hi,
I'm wanting to invest in a second rental property. I was contacted by a refinance guy and he's asked me two questions that I don't know what/how to answer:
What is the first mortgage debt on it ? Did you pay for it or do an installment sale ?
I've googled these terms but really only got further confused. Can anyone help me with this terminology?
Thanks in advance!
Best,
Blair