Updated over 7 years ago on . Most recent reply
Selling Land Contract Note
My mom sold her home in upstate NY after my dad died in 2010 by Land Contract. After the housing crash she was upside down and couldn't sell. We did a wrap around Land Contract to someone that's been there since at 9.5% interest. He's paid late a few times but never has missed a payment. My mom is trying to get out of her obligation on the Land Contract and is looking to hopefully oh off the remainder of her mortgage still on the property. He's been unable to get a mortgage of his own due to his terrible credit. But again has been great at paying. How would I go about trying to see if my mother could sell this note. It certainly isn't a lot of money, but my mom has over 45% equity left in the house.