Payoff Second
I bought a property 6 months ago, and the seller agreed to hold a 10,000 second for me. The terms were no interest and payments of $750 a month until paid off starting in Feb. I have so far paid him 3 payments of $2250. I was thinking of offering a lump sum payoff now at a discount of course. I dont know his financial situation and dont know if he needs the money but thought I would throw it out there as a good way to save some money. What would be a good starting point as a payoff?
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