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Replies (2)
- wetdawgs
- Contributions:26842
If an owner owns a home outright, then they can do it any way they want - although it is a good idea to have a lawyer involved in getting the documents together.
If an owner has a mortgage, it is very tricky (i.e. very bad idea) because many mortgages specify the property must be the owner's primary residence and the lender still has rights to the property if the owner decides not to pay.
Most owners chose to have a balloon payment approach with the new owners having to find regular financing after a couple/few years.
If an owner has a mortgage, it is very tricky (i.e. very bad idea) because many mortgages specify the property must be the owner's primary residence and the lender still has rights to the property if the owner decides not to pay.
Most owners chose to have a balloon payment approach with the new owners having to find regular financing after a couple/few years.
This is possible and doable as long as you have the complete possession of the house and the house you live in is not on a mortgage.
Tags:- Payday instant loans | Paydayuk
Tags:- Payday instant loans | Paydayuk
Owner Finance
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