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Why would I NOT want to hold a Mortgage

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Sandra
LIF Adult

Member since 5/05

1185 total posts

Name:
Sandra

Why would I NOT want to hold a Mortgage

besides default, what are reasons why I would want to hold the mortgage--if I sold one of our homes to someone?

Message edited 3/6/2006 11:43:47 AM.

Posted 3/6/06 11:42 AM
 
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CookiePuss
Cake from Outer Space!

Member since 5/05

14021 total posts

Name:

Re: Why would I NOT want to hold a Mortgage

You're money is tied up for the length of the mortgage.

You're money is locked in at a current rate and subject to interest rate risk, reinvestment risk, and purchasing risk.

Posted 3/6/06 11:44 AM
 

LSP2005
Bunny kisses are so cute!

Member since 5/05

19460 total posts

Name:
L

Re: Why would I NOT want to hold a Mortgage

you DON'T want to do this. Talk to a lawyer about all the legal and financial ramifications of this.

Posted 3/6/06 12:10 PM
 

Sandra
LIF Adult

Member since 5/05

1185 total posts

Name:
Sandra

Re: Why would I NOT want to hold a Mortgage

DH's brother is a real estate lawyer, I didn't want to bother him at work--thank you for the inputs!

Posted 3/6/06 12:14 PM
 
 

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