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Updated over 5 years ago on . Most recent reply

User Stats

53
Posts
42
Votes
Thomas Meyer
  • Rental Property Investor
  • Simi Valley, CA
42
Votes |
53
Posts

Taking over a whole note

Thomas Meyer
  • Rental Property Investor
  • Simi Valley, CA
Posted

I own half a note (First Trust Deed) with a partner. The loan is due in four months, but the borrower wants an extension of a year. I am willing to extend the term, but my partner may not. How do I take over his portion of the note?

Most Popular Reply

User Stats

486
Posts
215
Votes
Roman M.
  • Investor
  • Miami Beach, FL
215
Votes |
486
Posts
Roman M.
  • Investor
  • Miami Beach, FL
Replied

Buy the other share of the note for amount due.

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