Owner's Financing & Loan Servicing Companies

[Isaac Jordan]

Good evening All,

I have a property that I am looking to sell by offering owner's financing.
The remaining mortgage balance will be paid at closing by the buyer and the remainder that we've agreed will be offered as owner finance. Terms: 25% Down Payment Wired To Seller At Closing | 3 Year Term at 6% Interest Amortized | First Payment Due 04/01/2023 | No Prepayment Penalty

I've read on some threads but most date back 10 years and in different areas and most of my research has shown various pricing and/or will only service large portfolios. My main goal are to ensure that I have proper reporting in the event of a default to ensure I have no legal issues regain possession, and of course have an advocate to collect payment. 

I'm located in Atlanta, Georgia. Interested to hear your thoughts as well as any recommendations. Thank you in advance. 

-Isaac

[Randy Rodenhouse]

I would recommend using a servicing company to keep things compliant and to reduce your stress and work load.  There are servicing that specialize in different areas.  For seller financing I like Note Servicing Center Inc. They are excellent for what you want to do.  There are others like National Asset Mortgage but I don't think they have license in GA plus I like Note Servicing Center better.  Make sure the servicer is license in your state.