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homebuyadvantage replied to the topic Short Sale Lender wants to see HUD in the forum PACTrust/EHT Topics and Creative Real Estate Financing 15 years, 8 months ago
Derrick is correct.
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homebuyadvantage replied to the topic Tax decuctible interest, unsecured note. in the forum PACTrust/EHT Topics and Creative Real Estate Financing 15 years, 9 months ago
Thanks.That really helped.My last question is, at the inception of the trust, the R/B contributed $11,500, of which around $5,000 was left over after trust and impound.Is this $5,000 required to be left in some impound or security account in case of default?
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homebuyadvantage replied to the topic Tax decuctible interest, unsecured note. in the forum PACTrust/EHT Topics and Creative Real Estate Financing 15 years, 9 months ago
Scott,So at the end of 5 years, assume the property is appraised at $200,000.I am trying to understand how the money is settled.First, does the R/B purchases the home from the trust for $160,000 or $200,000?
homebuyadvantage
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