Refinance My Mortgage

What should my concerns be engaging in a private mortgage as the lender?

I have eleven thousand invested in a property that comps @ $25000. I have a buyer @ $25000 that wants me to hold the mortgage. What should my concerns be??? Twenty percent down @ 7% interest over ten years ore the terms.

your biggest concern should be not getting repaid. have you done a credit check on the buyer? will you be filing mortgage papers with your local gov’t office? your contract/mortgage should be drawn up by an attorney to ensure you are protected as much as you can be.

Private Mortgage Insurance (PMI)

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