Here's a transcript of a comment I posted on the West Seattle Herald http://www.westseattleherald.com/forum/owner-financing-option-consider#comment-3507 on owner financing:
"..for the faint of heart home owner that can't bear to be in just a lien holder position and give the keys to a perfect stranger, there are other options.
A homeowner can do a lease to own option which can be converted into a true seller financing mortgage situation after the tenant/future owner proves himself or herself as a capable and responsible tenant/payor/homeowner.
Warren also brings up a good point where sellers can get cashed out by note investors. That can actually happen at closing. and you don't have to hold on to the note if you don't want to.
However, in these tough economic times the note investor is looking for a larger discount than in previous years.
If there is anything I can do to help, it would be my pleasure
Dennis
"..for the faint of heart home owner that can't bear to be in just a lien holder position and give the keys to a perfect stranger, there are other options.
A homeowner can do a lease to own option which can be converted into a true seller financing mortgage situation after the tenant/future owner proves himself or herself as a capable and responsible tenant/payor/homeowner.
Warren also brings up a good point where sellers can get cashed out by note investors. That can actually happen at closing. and you don't have to hold on to the note if you don't want to.
However, in these tough economic times the note investor is looking for a larger discount than in previous years.
If there is anything I can do to help, it would be my pleasure
Dennis
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