All Forum Posts by: Payton Dodson
Payton Dodson has started 15 posts and replied 18 times.
If I own a property with an underlying mortgage and owner finance sell it using a wrap-around mortgage where should I be listed on the insurance policy?
New Buyer - Insured
Underlying Lender - Lost payee
Myself - ?
If I have an underlying mortgage on a property and owner finance sell it usind a wrap-around mortgage where should I be listed on the insurance policy?
if a tenant voluntarily leaves after vacate notices (non-payment) does the landlord still need to file eviction notice with county?
if a tenant voluntarily leaves after vacate notices does the landlord still need to file eviction notice with county?
I (seller) am still on the title.
Sold on mobile home on a conditional sales contract. Buyer is behind two months and no where to be found. Can I just evict them or do I have to foreclosure? Thanks.
Post: help with wrap mortgage
- Posts 19
- Votes 0
if i owner finance a property with a wrap mortgage and keep my original mortgage. the title will be transfered into the 'financed' buyer's name upon recording of the documents. this leaves in essense two mortgagees, myself and my lender.
how can i work the insurance where my lender will still be additional insured with 1st lien (so hopefully they dont catch it and enfore the due on sale) and keep myself covered as well with the wrap mortgage i will create? any help greatly appreciated.
Post: help with final touches for a wrap mortgage?
- Posts 19
- Votes 0
going to owner finance a property with a wrap mortgage and keep my original mortgage. the title will be transfered into the 'financed' buyer's name upon recording of the documents. this leaves me stumped on how to provide proof of insurance to my lender holding the orginal mortgage.
if the 'financed' buyer purchases a policy with myself listed as the mortgagee then how do i show the proof of insurance to my mortgage company with them list as mortgagee?