I recently have come across several deals that would be ideal for a wrap mortgage. I understand the steps involved, however another investor mentioned to me that I should be able to get money out at closing.
I was so excited I forgot to ask how?
If the remaining mortgage is at $20K and I want to wrap it for $40K (the example that was used), where does the other $20K come from?
I recently have come across several deals that would be ideal for a wrap mortgage. I understand the steps involved, however another investor mentioned to me that I should be able to get money out at closing.
I was so excited I forgot to ask how?
If the remaining mortgage is at $20K and I want to wrap it for $40K (the example that was used), where does the other $20K come from?
Thanks for the help.