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April 9, 2006
what to do with this house
A lady will give me her property that is worth 153.000.The value is 170.000,the note is 1379,piti. It was appraised four months ago.
Is a cash sale my only option?
The interest is 6.6150
It depends on if the house is in foreclosure. I am going to assume that it's not based on the question. So here are some things to consider:
1-Is it a fixed rate note? If so what are rents for that type of property in the area?
2-Can you take it subject to the original note?
3-Does the seller want any money?
4-What does the seller want to do(this should be the first question actually)
So all of this depends on what the seller wants and do they want money
Paul Wells
Posted by paulwells at April 9, 2006 3:07 PM