What the Federal Bailout Means to Seller Financing

Worried about the effect of toxic mortgages on the overall economy, the Federal government is pulling out the checkbook to help bailout failing mortgage companies.  It started with Fannie Mae and Freddie Mac and now includes a proposal for another $700 billion infusion of funds.  Why is the government involved and what does it mean for seller financing? … [Read more...]

How Much House Can the Buyer Afford?

Many sellers accept owner financing without any idea of how much the buyer can actually afford to pay. The last thing a seller wants is to stress over receiving monthly payments or worse, getting the property back through foreclosure. Use these three simple methods to determine how much the buyer can afford before accepting seller financing. The amount a buyer can afford to spend on a house depends on their income, overall debt, cash they can put down, credit rating, and the mortgage terms. … [Read more...]