What is seller financing?
Sometimes the seller is willing to finance the purchase of their property. The buyer negotiates a note with the seller and then makes a monthly payment to the seller, the seller then passes that payment on to the mortgage company. If the seller is no longer making a mortgage payment on the property, he/she simply accepts the down payment and monthly payments from the buyer. The seller becomes the lender.
See related Item: http://
Go
back
|