Dearborn Financing Secrets of a Millionaire Real Estate Investor 2003_8 pdf

10 / Epilogue 137 With the purchase price at $155,000 and $15,000 down, I could carry $140,000 at 9.5 percent, which is $1,177 per month. See Figure 10.1. Because the payments on the underlying first and second mort- gages would be at $1,000 per month, I would have $177 per month in cash flow. Furthermore, by staying in the middle of the deal, I would collect one single monthly payment from the buyer, a concept that is very easy for the average person to grasp. Hindsight is always twenty-twenty, but take away an important lesson here: The more you learn, the more you earn! FIGURE 10.1 How I Could Have Saved $1,000 and Made a Bundle Seller $125,000 @ 9% 1st Mortgage Investor $15,000 @ 5% 2nd Mortgage $140,000 Wrap @ 9.5% Buyers [...]...SAMPLE FORMS 147 148 A PPENDIX C SAMPLE FORMS 149 150 A PPENDIX C SAMPLE FORMS 151 152 A PPENDIX C SAMPLE FORMS 153 154 A PPENDIX C SAMPLE FORMS 155 156 A PPENDIX C SAMPLE FORMS 157 . Deed of Trust Power of Sale None Borrower can reinstate loan up to date of sale so long as a notice of defaulted has not been filed more than 2x in the past Arizona Mortgage Judicial None Arkansas. Judicial One year Ohio Mortgage Judicial Only up to the date of confirmation of sale Oklahoma Mortgage Judicial Only up to the date of confirmation of sale Oregon Deed of Trust Power of Sale None. date the clerk files the certificate of sale Georgia Mortgage Power of Sale None Hawaii Mortgage Power of Sale None Idaho Deed of Trust Power of Sale None Borrower can cure with 115 days