sdr you are right… it could be the strategy used by any and everyone…
nsr – I do not believe the home will ever be sold so they most likely do not sweat it. As for the percentage of how they split the interests, again, it is something I just learned about so I don’t have an answer but I agree with your premise, why not just use 1%…
As far as the loan, there is a first and a second. The NOD and NOT were for the original purchase yes.
