Updated about 6 years ago on . Most recent reply
Rent to Own Refinance
I sold one of my rentals to a friend in a wrap purchase scenario. It has now been over two years, he has never missed a payment, and for the last 12 months, has been paying the lender directly from his bank account. The 1st position loan is still in my name, and I have the 2nd loan with the buyer. We would both like to refi the property into his name, but he has 6 conventional loans already, and he is having a hard time getting another. FYI, he is a real estate investor. Anybody have a solution? The home is located in California. Thanks!