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Creating Carryback Financing, 2nd Edition
Basic Carryback Considerations
Chapter 1: Carryback financing in lieu of cash
Seller financing supports the price
Chapter 2: The carryback purchase agreement
Negotiating the terms of the seller financing
Chapter 3: Required disclosures on seller carrybacks
Mandated notices for risk analysis
Chapter 4: Requests for Notice of Default and Notice of Delinquency
Protection of the last resort
Chapter 5: Further approval of the buyer’s credit
The informed seller carries paper
Chapter 6: Evaluating the carryback note
The financial function of a discount
Chapter 7: Alternative security devices
Creative financing vs. creative chaos
Notes and Their Provisions
Chapter 8: The promissory note
Evidence of carryback debt
Chapter 9: Basic provisions in trust deed notes
Minimum elements for enforceability
Chapter 10: Special provisions for a promissory note
Beyond fundamental debt obligations
Chapter 11: Adjustable rate notes
The bargin to increase interest rates
Chapter 12: Late charges and grace periods
Penalties unrealatedto losses
Chapter 13: Prepayment penalties
Debt reduction as a privilege
Chapter 14: Loan lock-in clauses
Restraints on alienation rights
Chapter 15: Balloon payment notices
Carrybacks and loans on one-to-four units
Trust Deeds
Chapter 16: A modernized trust deed
Reflecting enforcement limitations
Chapter 17: Due-on-sale regulations
Rising rates bring lender interference
Chapter 18: Due-on waiver and junior financing
Prior planning prevents a call
Chapter 19: Impound accounts
The prepayment of taxes and premiums
All-Inclusive Trust Deeds
Chapter 20: Working the AITD and note
Flexible carryback financing
Chapter 21: The AITD's leveraged yield
The carryback environment
Chapter 22: The all-inclusive pomissory note and trust deed rider
Negotiating intrest rates and payments
Sophisticated Carryback Arrangements
Chapter 23: Subordination of trust deed
Altering priorities by agreement
Chapter 24: Partial release: lot by lot
An enforceable release provision
Chapter 25: Converting nonrecourse paper to reacourse paper
Substituting or eliminating the security
Chapter 26: Usury and the carryback seller
Modified carryback notes excluded
Chapter 27: Guarantees: recourse for nonrecourse paper
Sellers and lenders reduce risks
Chapter 28: No down payment carryback sales
Minimizing carryback risks
Chapter 29: The downpayment note
Buying property by creating paper
Chapter 30: Carryback foreclosure and resale costs
Seller protection led by disclosures
Tax Aspects of Carryback Paper
Chapter 31: Minimum interest reported on a carryback note
Charge or impute a note's AFR
Chapter 32: Seller financing diminishes tax impact
Installment sale defers profit reporting