Monday, September 21, 2009

Personal Finance

It's Good to Know %26ndash; What is a Vendor Take Back Mortgage?
by Dave Peniuk When the Vendor (aka the seller) of a property is willing to provide some (or all) of the mortgage financing on a property, it is referred to as a Vendor Take Back (VTB). As a real estate investor, I ask for a VTB on most of the deals that I am involved with. As there are significant benefits to both parties involved in the deal, it doesn't hurt to ask the vendor if he/she would be willing to carry the mortgage %26ndash; even if it's only a smaller 2nd mortgage. Believe me- asking that

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