I accidentally purchased a second position loan. Luckily it is current. How should I go about paying off the first position mortgage? Any lawyer recommendation to help with this?
Hi Mav, I’ve had good luck working with the prior owner to make those payments. Benefits them by improving their credit history. Benefits you by allowing you to make payments until you are ready to pay it off. But do be ready to pay it off. The lender can call the loan due and payable in full based on the due-on-sale clause. For an attorney look for a local real estate attorney and quiz them a bit on their familiarity with trustee sales before hiring them.