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RoKa Property
Rain Residential
Office: (850)830.4830
Cell: (850)699.4290
info@RoKaProperty.com
RoKaproperty.com

Local Happenings

Join us at the Keesler Air Show!  MS Select Realty is one of the proud sponsors of the Keesler Air Show. 

KEESLER AFB, MISS. -- 'Thunder on the Bay,' the base's first air show since April 2004 comes to Keesler April 4-5, 2009.
 
"We are excited to be hosting the first air show at Keesler Air Force Base in five years," said Brig. Gen. Greg Touhill, 81st Training Wing commander. "We have organized a dedicated air show committee who are working diligently to solidify two days of amazing aerial acrobatics as well as impressive static display aircraft."
wrap-around loans | Print |

What is a wrap-around loan?

"This method of seller financing is risky if the underlying first loan has a "due on sale" clause because the loan might be called due when the first lender becomes aware that the property has transferred title," says Dian Hymer, author of "Buying and Selling a Home, A Complete Guide," Chronicle Books, 1994.
A seller usually will want to incorporate a late charge to encourage the buyer to make monthly loan payments on time. "A buyer will probably want to stipulate that prepayment of the loan be without penalty.

This should not cause a problem unless the loan payments are a source of retirement income, in which case early prepayment could have negative financial repercussions for the seller...
"Most sellers prefer to have a due-on-sale provision included in the note, but this can be a negotiable item. Buyers who are concerned that they might be forced to sell during a period of high interest rates can request that the note be assumable by a future buyer, and sellers might find this provision agreeable as long as they have the right to approve the future buyer's credit report and financial statement," Hymer writes.

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Last Updated ( Tuesday, 29 July 2008 )
 
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