NLIC.org

Clayton Said:

Can I Sell My Private Mortgage Notes?

We Answered:

In this country millions of homes are sold every year. In most cases buyers go to a bank or finance company to seek mortgage financing.

In some cases, 200,000 in the U.S., home buyers rely on the seller rather than a financial institution to provide financing because:

? The purchaser may not qualify for a traditional mortgage.
? The purchaser may be a relative looking to save on closing fees.
? The seller may be interested in having a long-term income stream.

Often the seller is pressured into providing financing for the purchaser instead of receiving a lump sum. This forces the seller to assume the role of a mortgage company, worrying about servicing and collecting a monthly income stream.

Wesley Said:

How can I recieve a private loan to cover my mortgage payment while in pharmacy school?

We Answered:

My school on the cost of attendence financial aid sheet does have a line for housing expenses. If you think it is too low, you can appeal the ruling. You will get loans: federal and private up to the cost of attendence.

Terry Said:

BOA "No Fee's Mortage Plus" VS Private Lender?

We Answered:

Any private lender who arrangers a loan, is going to want to kiss your hand because the bank or institution, will be paying a fee, to the arranger of the Mortgage, for the term of the loan.
Before arranging a loan ,take your time, it is not always the interest you have to worry about .
you need to be able to change lenders ,without being hit with a large fee.
pay extra money into a loan and reduce it overall interest.
pay out the loan without running full term..
Seek a finance adviser .
Warring : make saw he is not connected to an institution or bank.