What Factors Are Positive When Selling A Second

We are holding alot of seconds. What details are positives for selling if we decide to start selling? Seasoning, intrest rate, ballon etc.
Sire

Comments(2)

  • bobo222nd November, 2003

    I used to buy seconds - the three things I cared about were how much equity was behind it, how stable the owners employment was and what discount I could negotiate. Be warned - discounts greater than 50 percent are common.

  • bpteos23rd November, 2003

    LTV, protective equity, seasoning,value and location of property,credit, lengthof time at current job,who is holding the first mortgage.
    I agree with bobo2. If you take back a small second behind a large first,which seems to be common with RE investors, don't expect to receive large sums of cash from these notes. They are generally considered to be very high risk and many of them end up defaulting. The discounts on seconds are generally very high.

Add Comment

Login To Comment