Deciding whether or not to sell your mortgage note is easier when someone simply offers you a “Full” purchase. In addition to being a straightforward buyout of all the remaining payments, it also makes it easy to determine what you are receiving. For example, if you are offered $85,316 for a $100,000 balance mortgage note, you are selling the note at a $14,684 discount. That … [Read more...] about Full or Partial Mortgage Sale? It’s All Dollars and “Sense”
Seller's Corner
The Downside of Owner Financing – Disadvantages to Seller Financing
What's old is new again and the credit crisis, struggling economy, and real estate market are making seller financing the come back kid. Offering to owner finance a property can attract buyers and even save transactions as banks increasingly stamp "DECLINED" on mortgage applications. Before you agree to "Be the Bank" carefully consider the downside to providing … [Read more...] about The Downside of Owner Financing – Disadvantages to Seller Financing
Owner Financing – 10 Advantages to Using the Seller Carry Back
The word is out and seller financing is on the rise as buyers and sellers look for creative ways to finance property in the struggling market. So what's all the hype? Here are ten advantages to using the seller carry back to buy or sell real estate. … [Read more...] about Owner Financing – 10 Advantages to Using the Seller Carry Back
UPDATE on HR 1728: How Congress Wants to Change Seller Financing
There is growing and legitimate concern over how Bill HR 1728 would severely restrict seller financing. Be sure to read this informative update. … [Read more...] about UPDATE on HR 1728: How Congress Wants to Change Seller Financing
Owner Financing – How to Finance Older Mobile Homes
Have you have ever tried to finance a mobile home manufactured before 1976? You probably felt like it would be easier to sell snow cones in Antarctica! Fortunately owner financing and private mortgages offer creative alternatives for hard to finance mobile homes. When purchasing a new mobile home financing is often offered through the dealer or retailers. Approved … [Read more...] about Owner Financing – How to Finance Older Mobile Homes