All Forum Posts by: Dymond Johnson

@Anthony Dooley thanks!

Thanks @Mike M. The seller is family and they are willing to make that deal (keep the mortgage). They are also willing to sign it over to me at no cost other than what's already accrued/ repairs. They want nothing to do with the property even the possible profits. I want to do the rehab and pay down the mortgage but not sure what direction to go for repairs since I only have what I was saving to buy another home which isn't much.

I know someone with a property that's currently worth over 1 million and the area is growing like crazy, they don't want the house anymore. BUT the house needs over 500k worth of work AND it's in a reverse mortgage. I don't know much about how to get the house with the reverse mortgage ties and my funds are not great to make the purchase. I'm not sure what to do. Any tips? Or someone willing to give serious advice so this deal doesn't go to waste?

I know someone with a property that's currently worth over 1 million and the area is growing like crazy, they don't want the house anymore. BUT the house needs over 500k worth of work AND it's in a reverse mortgage. I don't know much about how to get the house with the reverse mortgage ties and my funds are not great to make the purchase. I'm not sure what to do. Any tips? Or someone willing to give serious advice so this deal doesn't go to waste?

I'm new to Cozy so they may have changed since a year ago but they do have an option to add a fee if rent is not paid after your selected grace period.