Legal Question in Real Estate Law in New Jersey

I am unable to obtain a home loan for personal reasons. But I do have $25,000 to put down towards a home. I have a seller that is willing to take the 25 down to hold the morgage. They owe 175,000 on the home themselves. Is that even possible to do?


Asked on 3/31/10, 6:32 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

You won't get good title to the house unless the seller's mortgage is paid in full at the time of settlement. � See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 4/06/10, 6:42 am


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