What forms are needed for me to finance a second home for a someone I know?
Full Question:
Answer:
Based on the information you have provided, you, as the new lender, may wish to pay off the existing mortgage and have the homeowners sign a note secured by a mortgage deed/deed of trust. If you are wishing to help the individuals you referred to in order to prevent foreclosure of the property, you may wish to make the payments for them as a gift.
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