Silent Note?
When negotiating with a seller to carry a note. Is it valid still even if not recorded? how will the seller feel about carrying a non recorded note? is this legal? I was told that I can purchase preforeclosures this way even if the house does not meet the 70% ltv. If the property in foreclosure has a 90% ltv then I was told to have the distressed owner carry a small note and now I can go to HM lender and ask to borrow money for purchase. He will only see the first loan....right? Then I turn around and advertise "owner financing, 5% dwn, carry for two years". and resale property for 10% over previous purchase price to new buyer......yes?....no?
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