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Author Topic: When you buy S2...  (Read 4779 times)

Offline vinnychary

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When you buy S2...
« on: March 04, 2003, 03:27:01 PM »
Hi All!

Pretty basic question: When you take title to a property S2, how does that affect the seller's ability to get a new mortgage (on another property)?

I mean, I understand that if they are holding a signed lease, that will keep this mortgage from messing up their debt-to-income ratio, but how does this work in an S2 deal?

I think I have a motivated seller here, who might be open to S2, but they're relocating and would have to buy another property soon.

Thanks for any input!

Vinny

Offline Admin

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Lazy answer...
« Reply #1 on: March 04, 2003, 05:46:32 PM »
Vinny,
Although it's lazy, I wrote the article for exactly this reason...

http://www.texasrealestateclub.com/articles/randle/sellerloan.html

If you still have unanswered questions after reading, please let me know.  Thanks.
There's Only Two Things in Life: Reasons and Results.  Reasons don't count.  - Anonymous

 




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