A purchase money or first mortgage is the mortgage granted in order to purchase the property. It usually indicates that the title was examined, a certification of title was issued by an attorney and a title insurance policy was written.

That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.

That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.

That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.

That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.

Yes, if the lenders sells your loan to another lender. If you refinance -- No.

Purchase money financing is when the seller agrees to take back a mortgage for the new buyer. It is owner financing in whole or in part.

Yes, if they pay cash. However, if they borrow money to purchase the property and have a mortgage, they cannot transfer their interest unless they notify the bank. The bank will likely demand the mortgage be paid before the property is transferred.

Yes, if they pay cash. However, if they borrow money to purchase the property and have a mortgage, they cannot transfer their interest unless they notify the bank. The bank will likely demand the mortgage be paid before the property is transferred.

Yes, if they pay cash. However, if they borrow money to purchase the property and have a mortgage, they cannot transfer their interest unless they notify the bank. The bank will likely demand the mortgage be paid before the property is transferred.

Yes, if they pay cash. However, if they borrow money to purchase the property and have a mortgage, they cannot transfer their interest unless they notify the bank. The bank will likely demand the mortgage be paid before the property is transferred.