Monday, May 21, 2012
A seller acts as banker, and who owes what?
My mother sold her house in 2002. The purchaser paid off the existing mortgage, and my mother financed the rest, which was $18,000 and which was due the next year. The buyers now pay $100 a month on the balloon loan.
Read the whole story here: A seller acts as banker, and who owes what?
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