Posted on: 18th Apr, 2010 02:50 pm
have been current on owner financed loan for two years. I am now struggling to make ends meet. This is a vacation home and is also upside down about 40k. I have put 25,000 of my own money including renovation and downpayment. It is a 5yr balloon and don't think I will get refinanced. I need to know what I can do to be fair to the seller and myself. Will sellers take back owner financed properties or do they usually try to sue for the total mortgage owed?
Welcome rbfree,
I've given my suggestions in regards to your query at:
http://www.mortgagefit.com/ownerfinance/seller-takeback.html#161079
Take a look at it. Hope it helps you.
I've given my suggestions in regards to your query at:
http://www.mortgagefit.com/ownerfinance/seller-takeback.html#161079
Take a look at it. Hope it helps you.