all of the liabilities F assumed are treated as boot, including the otherwise-benign assumption of the purchase money mortgage
Realtors never had much interest in or influence over the refinance decision, but they remain the primary gatekeeper for purchase money mortgages
If the purchase money mortgage
is junior to a bank loan, there's a risk that the buyer will default on the seller-financed loan but not on the senior loan, leaving the seller with little recourse.
If you are not one of the few credit unions or CUSOs that have the individuals on staff with the experience to develop a successful plan to capture your member's purchase money mortgage
business, seek help or guidance to ensure you develop a team that really understands who constitutes the market you are going after, what channels to use to rollout the plan, when to market to the targeted segments, where your market is and how you intend to fully implement the plan.
A $1,250,000 purchase money mortgage
on a 25 unit, 6 story elevator building on the Upper East Side of Manhattan.
The borrower had recently closed on the $18 million purchase with a purchase money mortgage
, and now had the opportunity to refinance the PMM at a substantial discount, but only if the deal could be completed by year end.
A purchase money mortgage
in the amount of $566,250 on a multifamily apartment building located in The Bronx, NY.