Rick Mullen's (wausaurealestate247) Blog

If first mortgage financing by a family member makes sense in your particular case, a first mortgage may be drafted by either a title company experienced in drafting first mortgages or a Real Estate Attorney.  It is important that both the Mortgagee ("the bank") and Mortgagor (the borrower) discu...

Financing a home through a family member may have pitfalls.  To simply and securely make arrangements for a family member to finance a new home purchase or refinance an existing home, it is critical that you utilize a professional Real Estate Agent and/or an Attorney and a title company that offe...

Clients of mine were contacted by their parents to determine if they would be interested in working out an arrangement for their parents to carry the first mortgage on their home.  The parents are retirement age and felt that they would like to minimize their risk in the stock market by investing...