Quote:
Originally Posted by marketsmart
it's his tenant... but yes, they become lien holders on the property.. i am still trying to figure out exactly how they do things..
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I'd love to know as well as those interest rates are significantly higher than I've done and I'd like to know how he's doing it ;)
I've been doing the same via 2nd mortgages which are really secure, but by the way you described it, it doesn't sound like he's doing the formality of registering a mortgage, just using the house as standard collateral for non-payers.
WG