First, you have to know what you are doing and 2nd, there are alot of ways to do it, but the most obvious one is to ask the seller to carry back a 20-30% 2nd mortgage. You get a loan for the other 80% and the bank has to "allow" a 2nd mortgage.
Most sellers are only open to this if they have exhausted all other efforts to sell the property. Hope that helps.
Apr 29, 2009