i want to sell my house. i have a mortgage through a bank. can i sell it owner financed? can this work? or would i have to do a lease option?
thank you for input.
You probably could did this using a wrap around type of note. What are you trying to achieve? Monthly income? A spread between your interest rate and what you would charge? Sometimes you can sell more quickly if you're offering owner finance. Make sure that for the extra effort that you'll sometimes have to exert that the spread will be worth your time.
Mike Mitchell, Lubbock, TX
i just want to get out from under my payments as we've already rented a house.
these are the numbers:
i owe $192,000 on an interest only at 6.75% PITI = $1,400/month.
i am selling for $207,000.
buyer has $20k+ to put down on a lease option. as long as i essentialy break even and get the little bit i have left in equity out, i don't care.
how can i do this deal?