Owner financing, currently mortgaged
I have a property that is currently occupied by tenants who would like to buy. I would like to sell my house, but it is mortgaged, and I would prefer to do owner financing. Is this possible?
@Brian Beachy
Only if you do subject 2 deal or a contract for deed.
As I understand, subject 2 just means that the new owners take over mortgage payments? Could I collect a down payment and payments greater than the payments I'm making?
As an example, if my mortgage payments are $1k/mo, and I have $50k equity, could I get, say $30k down, plus $1200/mo?
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