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S.E. Iowa | We bought our first farm in 1975 for 500/ac $80,000 total $15000 down $2500year with 7% interest on the unpaid balance for 20 years unpaid balance due in a baloon payment. Made the payment every March 1. Remember calling her 15 years in and asking if she minded if I just paid off the balance with my payment. Well she said I was going to church to quilt, but I think I could be a little late, come on over. The deal worked for them and was good for me, with the right person wouldnt have a problem, | |
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Question re: Holding Mortgage on Property
