Owner Financing
AC Associates
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| Helping The For Sale By Owner...Offering Owner Financing can be Financially Beneficial Owner Financing or Owner-Financed Mortgages, are also known as seller-carry back mortgages. These mortgages are created when a seller of a home decides to "carry" a note from the purchaser of his or her home. This is usually done when the property is difficult to sell or when the buyer cannot obtain traditional financing from a bank. This usually happens because the buyer has or has had bad credit or too much debt or maybe even because the property is in a rural location with a lot of land (banks typically don't like to lend on these types of properties). This phenomenal way of selling your home, gets over looked far too often by a home seller. The reason being most Sellers simply are not aware of all their options-- or is it due to individuals holding onto outdated, old patterns of thinking? There are literally billions of dollars of owner-financed mortgages in circulation at any given time. Owner Financing has been in existence for decades and is becoming more and more common today because of the growing numbers of individuals who fail to qualify for a traditional loan from a bank or mortgage company. Banks are also becoming more conservative in their lending practices. These factors prevent millions of families from being able to obtain home loans, reducing the number of potential home buyers. With this in mind, home sellers sometimes choose to offer owner financing in order to sell their homes faster. They request a down payment (generally 5% - 10%) and the interest rate is higher than market rates. Of course the agreement between the seller and buyer is negotiable in terms, so the buyer is able to purchase the home. Why Should A Home Seller Offer Owner Financing? It's challenging when a person decides to sell a house. Sellers frequently face a limited time period to make a sale. Jobs, transfers, debts, moves and changes in our lives create serious needs. Sometimes market conditions are not good for getting what the seller wants. Of course, there are interested buyers. They may have the funds for a down payment, but the problem might be securing a traditional loan. Offering Owner Financing opens the doors for many buyers who get turned down by the banks. Immediately after the home is sold with Owner Financing, the seller is satisfied because the property was sold quickly and receiving a good return on their investment. As time passes though, the mortgage note holder might decide that having a lump sum of cash would be better than waiting years to collect the balance, usually one month at a time. Click Here to see two examples how selling your Mortgage Note can be Financially Beneficial The seller would than contact a Contract Buyer, also known as a Note Purchaser, who would help them cash out their note. *TAKE NOTE: If the seller wishes not to carry the note at time of sale, a contract buyer can purchase the note at time of closing for cash, which is known as Simultaneous Closing. There are many good reasons for an individual wanting to cash in their note. Some are:
AC Associates can help you receive a lump sum of cash for your Mortgage Note. There are various options available to you. Such as:
If you are interested in learning more about this excellent win-win situation, please contact us so we can discuss details further. |
| Sell your Note, Deeds of Trust, Lottery Winnings, Business Note, Structured Court Settlement or Annuity to a qualified buyer/purchaser. If you are receiving payments and would prefer to have a lump sum of cash now, please call 732.387-8188 |