All Forum Posts by: Emmanuel Govea

First of all thank you for your reply. 

Here is what I was actually thinking of doing for the renter since it is someone that I do want to help out a bit. $165k property cost, Fees will be paid by myself but added to the loan, 30 year loan term, and interest will be 5.5%. 

I currently do not have a lawyer to draw the mortgage contract up. Is there anyone that handles plenty of things like that that can be recommended. Also any information on the Foreclosure process would be great to have.

I live in California and I own a property in Texas that is currently being rented out. The tenant wants to purchase the property from me and understands that in doing a Private Loan the interest may be higher than getting a loan the traditional way. I am looking for advice on how to proceed with this. 

I do have mortgage background, however I have never dealt with Private Lending so am unfamiliar with who will do the doc drawing and what is required by title. Any help would be greatly appreciated.