creating your own mortgage - Posted by David

Posted by jeff thomas on August 17, 2003 at 16:11:26:

Without knowing the details of the deal I can give you only some general info. It’s called seller financing. Typically the seller carries back a 1st mortgage against the property for the purchase price minus your down payment. That mortgage can be sold… but at a discount… The amount of the discount depends on several factors such buyers credit and equity and even the value of the property, etc…
If you want to structure a deal and the seller is interested give me a shout

creating your own mortgage - Posted by David

Posted by David on August 12, 2003 at 11:50:32:

I just wanted to know has anyone ever used the tecnique of creating your own mortgage to purchase Real Estate?

How effective was the tecnique? What are the steps to doing it? Do I come to an agrreement with the seller? Create a mortgage, and then run an ad to see if someone wants to pickup or supply the financing?

Please Set Me Straight!