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Message
re: Wraparound Mortgages
Posted on 4/14/15 at 2:32 pm to CubsFanBudMan
Posted on 4/14/15 at 2:32 pm to CubsFanBudMan
You 1st will want to be paid out. In most mortgages a subsequent conveyance without paying off the mortgage is an act of default.
1
Posted on 4/14/15 at 2:45 pm to rmc
quote:
You 1st will want to be paid out. In most mortgages a subsequent conveyance without paying off the mortgage is an act of default.
That's what I assumed, but he doesn't think so. Sounds like he does this sort of thing a lot. I'm just trying to figure out if this is some sort of scam, or what.
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