Wow! What a great time to sell and obtain a 7 to 9% interest rate if you are willing to take back a First or Second Mortgage. With the banks tightening up on their lending policies, there are many first time buyers and repeat buyers that are just shy of qualifying for a mortgage, however these buyers have good credit, good jobs, and are definately willing and ready to buy real estate. For those sellers that have a lot of equity in real estate, this is the time to sell, and assist with Buyer financing, and achieve a great rate of return on their Mortgage take back. What an opportunity for a select group of Sellers that find themselves in that scenario.
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