Posted on: 21st Aug, 2010 02:08 pm
I have two homes along with two mortgages. My primary home is upside down. I have an individual that is interested in buying the home. He can not get financing due to recent short sale. I would like to offer an owner carry or something similar. What are my options.
If your property is free and clear, then you would be able to owner finance the property. However, if you've a mortgage on it, then it won't be a good idea to go for owner financing. If the lender comes to know about it, he would call the loan due immediately.