applicable federal rate: Here's a hidden "Gotcha" for seller financing. - 12/23/06 10:38 PM
Every now and then you might be asked by a seller or buyer if seller financing could be an option to make a transaction work.
A common scenario might be for a buyer to ask a seller to take back a small second mortgage (we're talking about a legitimate, recorded, and disclosed second here) in order to help them get into a home.
Being a good guy the seller says "sure, I'll do that and because I like you so much I'll only charge you 3% interest on this $25,000 second you're going to pay off in 5 years."
Sounds like a match … (6 comments)

 
Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts (RE/MAX Shoreline)

Jim Lee, REALTOR, CRS, ABR

Buying or Selling? Ann & Jim are the local experts

Portsmouth, NH

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RE/MAX Shoreline

Address: 875 Greenland Rd, B9, Portsmouth, NH, 03801

Office: 603-436-1221

Have a question about Portsmouth NH & Seacoast New Hampshire real estate or homes for sale?? Please feel free to ask a question about any aspect of real estate or a real estate transaction.


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