Seller Financing using a wrapped loan
I'm trying to structure a deal utilizing seller financing. The owner of the property is an older woman and says that her monthly mortgage is too much for her. I would like to present seller financing the home. Can someone give me some guidance on how to structure the deal? I know she will have to wrap the loan, but I'm not sure on that process? I'm looking to make her an offer with no money down, and have the interest rate high enough to where she would make a couple of hundred bucks each month. I would then refinance after 6 months - year and pay her off.