Updated over 7 years ago on . Most recent reply
Owner Willing to Hold Mortgage Temporarily
Hi Everyone,
We have a SFH in the Wny (Buffalo) area that the owner is possible willing to hold the mortgage temporarily (6-12) months. The ARV is around 140k, we offered her 80k in its current condition. She denied our offer since she owes around 77k. But she might be willing to hold the mortgage while we flip it or rehab and refine it for a rental. My question is simple..what is the normal compensation for the owner while they hold the mortgage.