Updated over 6 years ago on . Most recent reply
Owner Financing Question
Bigger Pockets heroes,
I have a property in the Atlanta metro area that I'm trying to sell and I've now had a couple of offers above ask with owner financing. This is something that I want to do, the numbers make sense, but I need some help on figuring out the best course of action. The mortgage on the house is currently held by a company that does not assign mortgages and I still owe ~$90,000 on the mortgage. What are the best ways to go about closing one of these offers?
Can a wrap-around owner financed mortgage work when the mortgage isn't assignable? Should I refinance with an assignable mortgage then immediately turn around and sell the house with owner financing?
Anyone have some ideas of lenders that have assignable mortgages in the Atlanta area?
Thanks!
Rob