Updated over 10 years ago on . Most recent reply
Interest Free Mortgages
Have bought and sold 2 properties, Took back 0% interest mortgages for 2 year term on each.
Both bought at $150,000 each and sold privately for $177,900 each
Payments $1,000 per month with an option to buy them back at $150.000 if they go into default and default is not fixed within 60 days. Down payment on both was $10,000 each. Mortgage amount $167,900.
Both sold quickly with no banks, no real estate agents. Anyone doing something similar?