Private Money Loan Two Third Party From Family Member Of Owner
I bought a house in claifornia as an investment and am now flipping it. For the purchase, we put my mother on title, then she granted to property to me after we closed. I am selling now and I want the new buyers (owner occupants) to make a first note in favor of my mother. Im taking my profit as a second DOT
what RESPA issues or other legal issues can this create. Is my mother exempt from RESPA ? Can she even make this loan ?
Also, would it not be better simply to have the buyer create a first note with my mother and I owning it together.
Thanks very much for any input
thanks to all for the input. Much appreciated.