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This is a discussion on Purchase money loans? within the Foreclosure Laws forums, part of the Foreclosure Forum category; Would someone please explain purchase money loans to me? Wikepedia says that these loans are ones that you don't take ...
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| Junior Member Join Date: Jan 2009
Posts: 2
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Purchase money loans? Would someone please explain purchase money loans to me? Wikepedia says that these loans are ones that you don't take thru the bank but thru your seller?? That sounds pretty rare....please help me understand. Thanks in advance! |
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| Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC
Posts: 1,407
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: Purchase money loans? greenapples, A purchase money loan is the loan you took out to buy your home, as opposed to a loan taken to re-finance on a home you already owned.
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