Posted by Brent_IL on August 25, 2003 at 16:32:33:
Let your attorney take care of the needed papaerwork, but before you do, check out www.longbeachmortgage.com
Marcos posted this last night, but I can’t find his post. It was in answer to the low FICO query. These people appear to welcome challenging loans. They’ll accept rental history.
How to sell owner finance? - Posted by RM
Posted by RM on August 25, 2003 at 13:12:53:
The tenants of one of my properties want to buy the house they are renting, they tried to get financing but because they have not use their credit in 5 years (all cash)and they are self employed no one seems to get them any financing. Never been late with their payments in 39 months.
If I owner finance this property to them, what do I need to do? What paperwork should they sign?
Thanks.
Re: How to sell owner finance? - Posted by Mark Williams
Posted by Mark Williams on August 26, 2003 at 22:48:37:
RM:
I have lenders who will accept alternate credit documentation for exactly the type of folks you’re trying to help out…might be able to arrange a mortgage for them so you can get your equity out for other deals, if you’re not looking for the annuitized income …
Send me your number and I’ll give you a call?
Best…
Mark