what to do is this even legal
I bought a house for $63000 7 years ago I owe $51000 now and value of home went up $10,000 since I bought ..its a owner finance my friend owns house will appraise for $84000 -$90,000 should I try to get a mortgage for the $90,000 ? and then get the left over money my friend has after paying off his loan ? my friend is 100% for this since I got him outta a jam and took house over let me know what u think
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@Daniel Hennek, you may want to do further research on "subject to's" and "wraps." Many people are using these type of strategies to further their portfolio, and I believe this is what Gina is referencing. You also may want to look into what has recently changed via Fannie Mae in regards to the "due on sale clause." Good luck!