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In Your Experiences, How Often Likely Are Lenders To Agree To...(m)

quinn profile photo
  • Sunday, June 06, 2004 @ 04:59 PM EDT
  • 4 Comments

How likely are lenders to agree on tacking back payments on to the back end of the owners loan? What is their criteria for agreeing to do so?

Thanks guys and gals grin

quinn

Comments(4)

  • no photo
    active_re_investor6th June, 2004

    It happens.

    Each lender and each property is different.

    The lender has to believe that they will get their money for them to take the deal.

    John
    [addsig]

  • no photo
    InActive_Account6th June, 2004

    Quote:
    On 2004-06-06 15:34, quinn wrote:
    How likely are lenders to agree on tacking back payments on to the back end of the owners loan? What is their criteria for agreeing to do so?


    Quinn,

    I'm not familiar with this concept, do you mind giving a little explanation?

    Thanks,

    Robert
    [addsig]

  • no photo
    quinn6th June, 2004

    Robertt,

    On occasion when a homeowner is behind on a few payments, it can be negotiated with the lender to tack the behind payments onto the backend of the homeowner's mortgage. Sometimes the lender will go for this, and sometimes not. I don't know what would make them more agreeable to doing it though.
    Hope this helps
    quinn

  • no photo
    InActive_Account6th June, 2004

    Quinn,

    Thanks. I had never heard of that. Does this assume that you are assuming the original mortgage?


    Thanks,

    Robert

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