Seller Financing using Obama money
Once the land contract has been executed you can either hold on to the note as a long term investment or have the payor of the note either refinance you out with FHA lending or other conventional financing.
We have noticed that FHA and other lenders are increasing their credit scores and done away with most Stated loan programs. As a result many savvy investors are taking a small discount on their notes and selling it for cash.
IF one decides to discount their private mortgage note for a lump sum payment, please keep in mind that the Note buyer will require a certain yield. I would suggest that you contact a Professional Note buyer before you structure this type of deal. They can be very resourceful in assisting you with preparing a good saleable Land Contract.
Far too often we have seen many situations in which the investors are not able to sell their notes, because it was prepared improperly.
We have noticed that FHA and other lenders are increasing their credit scores and done away with most Stated loan programs. As a result many savvy investors are taking a small discount on their notes and selling it for cash.
IF one decides to discount their private mortgage note for a lump sum payment, please keep in mind that the Note buyer will require a certain yield. I would suggest that you contact a Professional Note buyer before you structure this type of deal. They can be very resourceful in assisting you with preparing a good saleable Land Contract.
Far too often we have seen many situations in which the investors are not able to sell their notes, because it was prepared improperly.
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