Lakewood90712
Thinks s/he gets paid by the post
- Joined
- Jul 21, 2005
- Messages
- 2,223
Likely going to sell the house, going to split future time between elderly mothers house and cabin cruiser in the harbor..... ( that is a whole other story - stay tuned).
Been there over 30 years, location is not attractive to me anymore, and the house needs major upgrade/ refurb. It's 76 years old . WW2 era tract home. However, demand and prices are as crazy as pre meltdown of 10 years ago.
I don't want to be a landlord. Also don't have near term need of the money, but 4% for up to 10 years would be attractive to me as passive income.
Would set up trust deed note collection with a regional bank.
Worst case , if I had to repo it and resell , not a problem. However,
? what would happen if the debtor declared bankruptcy ? Could I be stuck modifying a loan ?
Been there over 30 years, location is not attractive to me anymore, and the house needs major upgrade/ refurb. It's 76 years old . WW2 era tract home. However, demand and prices are as crazy as pre meltdown of 10 years ago.
I don't want to be a landlord. Also don't have near term need of the money, but 4% for up to 10 years would be attractive to me as passive income.
Would set up trust deed note collection with a regional bank.
Worst case , if I had to repo it and resell , not a problem. However,
? what would happen if the debtor declared bankruptcy ? Could I be stuck modifying a loan ?