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turbo6bar turbo6bar is offline
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Join Date: Apr 2000
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RANDY beat me.

One thing about the 'due on sale' clause-- some owners may try to do a wraparound mortgage. They are essentially taking a mortgage from you, along with your payments. Then, they pay their mortgage. The original mortgage supercedes your deal, so if the seller decides to stop paying their mortgage, the original lender can foreclose and you lose everything.

One forum you might want to check is creonline.com Dunno if it is crap these days, but it does cover some of the ins-and-outs.
Old 07-22-2008, 08:34 PM
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