Transcript of Video Blog: Hi, everyone, Rowan Smith with the Mortgage Centre. I want to talk today about vendor takeback mortgages. I’m getting a lot more inquiries no them, and there’s a fundamental misunderstanding out there about how they apply and whether or not you can really use them. A lot of the no-money-down programs,
Transcript of Video Blog: Hi, everyone. I want to talk today about something — I haven’t done a blog post for quite a while — and that’s vendor take-back mortgages. What is a vendor take-back, and when does it apply? A vendor take-back is essentially a situation when the vendor agrees to take back a
People call me all the time wondering if they can use a vendor take back mortgage on the purchase of their new home. My knee jerk reaction is NO, but there are exceptions. I did the following video blog explaining why the vendor take back doesn’t work that well. Enjoy! [flashvideo file=wp-content/uploads/2009/12/Vendor_Takeback.flv /]
