So my landlord is trying to sell me the house I'm in and it would be the best thing that ever happened for us. However, I don't believe I qualify for a mortgage, yes, bad history.......but..
he offered to hold a second mortgage if I could get the first, this is what I don't understand and can't find answers to.
Someone said it is guaranteeing that the mortgage holder isn't out their money.
So I'm bearing a bit more than I'm comfortable with on here but I'm in dire need of information, not a sales pitch and that's all I seem to be finding online. I've called a couple of places locally but no luck.
Does anyone know where I can find explanations of terms and learn what all of this is about?
I'm willing to pay someone for their time to sit down with me and teach me about this so that I understand.