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Ron Legrand Forms PDF

Ron Legrand Forms PDF

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says I have a seller with free and clear property he has suggested to me that he is willing to take out a home equity line of credit um and I can take it subject to the loan I believe I've heard that this is not a good idea and this kind of loan will be called by the bank did I hear correct the loan could be called by the bank I don't want you taking the subject too but I don't mind you wrapping it as long as the seller signs a cy8 letter and stating they know the bank can't call it do and you're not liable but also the seller better not be telling the bank that they sold it this way or they might you know they just Stern up a mess but if you do a wrap around a HELOC like that it would be smart if you put a tenant buyer in there that will cash it out as soon as possible because that's not going to be a long-term deal if you want to learn more about that follow me [Music]

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