Looking for *California* Wrap-Mortgage Contacts

[Tiffany C.]

We have been looking into selling a couple California (Bay Area) properties using seller financing and a Wrap Mortgage.  Of course we've gotten many reports and opinions from many different people that questions the legality and the "due on sale" clause.

I'm not look to discuss any of those details here.  

I would like to ask: is there anyone out there who has successfully done wrap mortgages in California and can you recommend any contacts I could begin a conversation with as far as executing a wrap mortgage in CA (or whatever it's legal name might be in California).

Thanks Everyone,

[Tiffany C.]

@Franklin Romine

  My husband and I set the goal to retire early.  That means we can live off our rental properties with enough positive cash flow.  After purchasing our first two rentals, we tried to buy our own house 30 mins south of SF, only to get the sticker shock of $800K for a 2bed/1bath, 1200 sq. ft, 1950s house.  We both held very demanding full time jobs in SF; the $800K meant one of our salaries would go into mortgage and maintenance costs, while the other salary would go into living expenses.  That would leave us with no room to travel, do fun things and retire early.  It would also put tremendous pressure if one of us lost our jobs.  

  After much soul-searching and at the blessing of a friend that already lived in Henderson, we found our "way out".  With the housing prices at a fraction of the Bay Area and W-2 jobs that paid 90% of what we made in SF, we can live comfortably while pursuing our goal.  Also, because jobs here are much less demanding - mentally and time wise - we now have the ability to spend more time learning and focusing on RE investments.  

  To answer your question in one sentence, the move was very strategic and we have not regretted it so far.