It's up to you to make certain the lien is recorded. I am carrying the note on real estate I recently sold mainly to spread income that is limited as far as taxable S.S. income. Were it not for the I.R.S. circling overhead,I would draw every cent from my IRA to invest partly in mortgages. But guess what? Fedral law forbids me to carry a mortgage for anyone other than myself same as they forbid me to invest my IRA in the private sector unless I pay taxs on 100% of it first then tax me on any profit I make later. If you are saying the buyer will $100k down and you carry $30k,like I already said,I would love a deal like that. Just don't try to compete with bank interest. If thier credit was good enough they likly wouldn't ask you to carry it.
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Today's Featured Article - Threshin Demonstration - by Michael Delaney. Introduction I bring you greetings from Prince Edward Island, Canada. We are Canada�s smallest province but big on farming. Maybe you�ve heard of us. Potatoes are our biggest crop. However, there is lots of mixed farming here also. I have a small mixed farm with 25-30 cattle. I make very good use of old machinery. I have a 135 MF Diesel, Farmall H and 1/3 share in an Allis B. I have complete lines of tillage and harvest equipment, and a saw gear etc. I have everything one would
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