Need to draft a document using IRA's as backup collateral for a second mortgage for a private lender.
1 Answer from Attorneys
Re: IRA question
I am not sure what you are asking for. Do you want to know if this can be done? If so, the answer is yes- it's just a matter of you and the lender working out the terms of the contract. No matter who does it, I seriously recommend you retain counsel to prepare the contract. This is the type of situation that can really turn around and bite you years down the road when you are least expecting it, especially if there are problems making payments.