The house you purchase is likely to have a mortgage on it. If you take out a new mortgage to fund your purchase, the new lender will make sure that the old mortgage is paid off. But if there is no new lender, you must do this yourself to make sure you are getting a lien-free property. If you don’t, you can be in for a nasty surprise. For example, the all-cash buyers who were burned by sellers who took their cash and promised to repay their mortgage, but didn’t. Don’t let that happen to you.

Key Takeaways:

• If a Veteran is disabled and exempt from the VA funding fee, it makes even more sense to consider. Plus, it doesn’t have to be no down payment.
• Whether there is a large down payment or just 3% down, conventional loans can help.
• Buying a property for a business? We know it may feel like banks are asking for everything other than a blood sample.

http://teammovemortgage.com/2016/11/28/cash-buyer-alternatives/