Sub 2 - Agreement To Show We Are Making Payments
We are purchasing a home subject to and our sellers would like some type of agreement that they can use to show that they are not making the payments on this loan...i.e. to help with future debt to income ratios when borrowing money. Can anyone help with the wording on this type of agreement?
Thanks for your help.
try a land contract-monthly payment 700- recv. lease payment 700. zeros out on sellers application.
das1997,
The majority of lenders that look at this type of arrangement only give 75% credit of the total payment.
Who do you know that gives 100%, you might want to share that with us.
John $Cash$ Locke
[addsig]
a land contract isnt normally considered a lease which is rent income. its owner financing. As i said i am new so this is just what i have learned.