Tag Archives: loan

What is the difference between an equity loan and a 2nd mortgage? Do they both have closing costs?

What is the difference between an equity loan and a 2nd mortgage? Do they both have closing costs?

What are the best loan institutions to borrow money on an empty land in South California.?

Another thing: this land is covered with broken down trailers and old R.V. and I need someone with truck to remove the squatters with their trash out of there.
The land is for sale and is located 70 miles east of San Diego.
How do I proceed to clean my land from all that trash.?

What is a Sellers second Mortgage?

I am trying to sell my house. The sales price is $131500, the buyer was able to get a loan for 97% of the sales price. However they want me to do a Seller’s Second Mortgage for the remaining 4% ($5000). How exactly will that work? What do I base the terms on? How does the agent get paid?
The house had very little equity in it. How does my bank get paid? Is it a good idea to even consider in the first place. Thanks.

I owe money on a 1031 exhange how do I not pay capital gains on the 1031?

I bought a house for a rental 1.5 years ago with a 1031 that is appraised at 350k, I just took a loan out on it for 200k. If I sell this house this month, how much do I have to exhange. does the sale of the house pay the loan off and keep the money have only to spend 150k or do I need to spend what the house is worth?