Posts Tagged ‘carryback’
Mortgage Lender Generally has the Right to Either Foreclose or Sue
Question: We bought forty acres of land in Coconino County five years ago for $200,000. We made a $20,000 cash down payment, and the seller did seller carryback financing of $180,000, plus ten percent interest, all due in five years. Although the forty acres of land in Coconino County was to be part of a…Read More
Is New Home Safe From HOA Fee Lien?
Question: We lost our Mesa home to foreclosure a year ago. We were almost immediately able to buy from an investor a smaller home in Queen Creek using carryback financing from the investor. The home prices in our Queen Creek subdivision have increased significantly in the past year, and we have approximately $20,000 equity…Read More