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Seller Financing


Although any loan used for buying real estate is strictly called a purchase money mortgage, the term is often employed for seller financing, those transactions in which you "take back" a mortgage as part of the purchase price. These arrangements are suitable, of course, only when you do not need your proceeds immediately toward the purchase of another home.

Taking back financing could make your property easier to sell during a difficult mortgage market. You might hold out for a higher sale price or interest rate, because your buyers will have fewer closing costs than usual. And sometimes your income tax situation, particularly with investment property, makes it advantageous to receive the proceeds over a period of years.

But seller financing is sometimes sought by buyers who cannot qualify for regular financing, and then the question arises: if a bank won't trust them with a loan, why should you?

A large down payment, of course, represents some safety. If you ever had to foreclose, the debt might be covered by the sale of the property. And asking for a large down payment serves to separate strong buyers from those who are weak financially -- unless, of course, they're going out and borrowing the down payment elsewhere. In that case they could end up with unmanageable payments, which would put your loan in danger.

So you should insist on an analysis of the borrower's financial position, just as a bank would. Your lawyer, accountant or broker can obtain a credit report on prospective buyers. You'll be able to see how seriously they take paying their bills.

Analyze the buyers' present debts and income to ensure that they're not getting in over their heads. Look for job stability..

If you do go ahead, have your own lawyer draw up or at least review the mortgage or trust deed documents they will sign. And be sure the mortgage is promptly entered into your county's public records, to establish the priority of your lien, your financial claim, on the property.

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TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Tue. June / 25 / 2019

Refinance mortgage rate moves up for Monday  Bankrate.com

Refinance rates were mixed, but one key rate cruised higher. See what that means for you if you're in the market for a mortgage.


Could we see 2% mortgage rates before this is all over? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Is it really possible that we'll see 2% mortgage rates in the next year or so? No doubt some folks laughed when we suggested earlier this year that mortgage ...


Buying or refinancing? The mortgage rate frenzy is back  STLtoday.com

Average rates are around 3.82% nationally for 30-year-fixed mortgages, after peaking near 5% in November.


4 irresistible perks of a VA mortgage refinance  Bankrate.com

Interest rates are near historic lows, and one particular VA loan refinance option that is easy to qualify for can enable homeowners to save thousands on their ...


If You Ever Want To Retire, Here's The Best Way To Refinance Your Mortgage  Forbes

The usual reasons to refinance are to reduce the monthly payment or to raise cash. The third option, which is under-appreciated, is to shorten the period of ...


As rates drop, mortgage refinancing surges but home purchase loans remain tepid  USA TODAY

Homeowners scramble to refinance mortgages as rates hit the lowest level in 17 months. But mortgage applications for home purchase rose just 0.5%.


Mortgage Rates Drop Again -- Homeowners Can Save Hundreds Per Month By Refinancing  Forbes

Mortgage rates are continuing their downward spiral. According to Freddie Mac, the average rate on a 30-year fixed-rate loan has dropped to just 3.82%—down ...


As mortgage rates plunge, should you refinance?  Fox Business

Nearly 6 million people can now cut their mortgage payments with refinancing.


Mortgage rates poised to drop after Federal Reserve announcement  The Washington Post

Mortgage rates showed little change heading into the Federal Reserve meeting. But now that the central bank has revised its stance, they could be headed ...


Your money: Buying or refinancing? The mortgage rate frenzy is back  Reuters

Mortgage rates are nearing historic lows again in the United States, making it an ideal time to buy a home - or refinance.


Refinance rates drop off for Wednesday  Bankrate.com

Several closely watched refinance rates fell today. See what that means for your chances of getting a better mortgage rate.


Mortgage rates predicted to fall to "the lowest they've ever been" | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Mortgage rates fell to 3.84% in mid-June according to Freddie Mac, but could they go lower? A lot lower? Even the lowest they've been in 50 years? Mortgage ...


Mortgage rates are falling—here's how to tell if you could save money by refinancing  CNBC

As mortgage interest rates drop, homeowners could save hundreds per month by refinancing. However, it's not a smart financial decision for everyone.


U.S Mortgage Rates – Rates Rise for the 1st Time in 7-Weeks  Yahoo Finance

30-year fixed mortgage rates rose for the 1st time in 7-weeks. The latest FOMC projections and rising geopolitical risk could reverse that with interest…


Nearly 6 million people can now cut their mortgage payments with refinancing  Bankrate.com

The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate -- two ...


Refinance rates decline for Thursday  Bankrate.com

Several key refinance rates sunk lower today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both trended down. The average rate on ...


4 Student Loan Refinancing Myths Debunked  NerdWallet

Student loan refinancing isn't a scam. To help you decide whether refinancing is a good option for you, we're addressing four common misconceptions.


Weekly mortgage applications fall as rates rise, volume remains much higher than last year  CNBC

Mortgage applications were down 3.4% from the previous week, but still up 31.6% from a year earlier, according to the Mortgage Bankers Association.


How low can mortgage rates go? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Mortgage rates are low as of this writing, really low, but can they go lower? Lower rates would be great for borrowers and yes, that could happen.


Refinance mortgage rate moves higher for Friday  Bankrate.com

Refinance rates were mixed, but one key rate were higher. If you haven't locked a refi yet, see how your future mortgage payments could be affected.


Latest 2019-2021 Predictions: Home Sales & Prices, Mortgage Rates & Loan Volume  Yahoo Finance

Last week, our friends at the MBA released their latest predictions on home sales, home prices, mortgage rates, and mortgage volumes. Rates dropping this year ...


When Mortgage Refinancing Makes Sense  Seeking Alpha

There are many misconceptions about what happens with refinancing a mortgage and the effect on interest payments. The important factors are rate, time and ...


Interest rates are down, so is it time to refinance?  WTOP

Interest rates for mortgages are low __ really low. As of the first week of June, long-term mortgage rates were down for the sixth consecutive week. The 30-year ...


Guild Mortgage launches refi option for Airbnb hosts  HousingWire

Guild Mortgage has partnered with Airbnb to launch a refinance program for property owners who host guests through the Airbnb platform. The program allows ...


Nearly 6 Million People Can Now Cut Their Mortgage Payments With Refinancing |  RisMedia.com

With interest on the low side, there is a potential to refinance and save.


Airbnb adds another mortgage refinancing partner  Inman.com

Guild Mortgage has become the latest home loan provider to treat short-term rental revenue from Airbnb as income for homeowners applying to refinance their ...


Refinance rates retreat for Monday  Bankrate.com

Several closely watched refinance rates fell today. If you're in the market for a home loan, see how your payments might be affected.


Mortgage rates decrease for Thursday  Bankrate.com

Multiple benchmark mortgage rates trended down today. See how that could affect your home loan payments.


Mortgage refinance candidates swelled by 2 million in May  National Mortgage News

The most borrowers in three years currently qualify for refinancing as the average for the 30-year fixed-rate mortgage dropped below 4% for the first time in over ...


9 Housing and Mortgage Trends for the Rest of 2019  Yahoo Finance

The first half of 2019 surprised housing markets across the country: Mortgage rates fell. That's the opposite of what the experts had predicted at the beginning of ...


Mortgage rates extend decline, sinking to 16-month lows  The Washington Post

After five weeks of declines, mortgage rates are at their lowest levels in 16 months. According to the latest data released Thursday by Freddie Mac, the 30-year ...


Refinance rates tick lower for Thursday  Bankrate.com

Several closely watched refinance rates sunk lower today. If you're in the market for a home loan, see what that means for you.


Mortgage investors' refinance concerns rise with rate rally  National Mortgage News

Mortgage prepayment speeds may rise with the strong U.S. rate rally, and that may be cause for alarm for mortgage investors.


Mortgage Rates Barely Budge Despite Bond Market Improvement  Mortgage News Daily

Mortgage rates were little-changed again today, despite moderate improvement in the broader bond market. Although it's MBS (the mortgage-backed securities ...


Despite rising home prices, experts pop bubble fears  Bankrate.com

Homebuyers sitting on the sidelines, waiting for housing prices to backslide, might be waiting longer than expected, according to experts. Although the high price ...


The power of mortgage insurance — and which state's buyers use it most | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Mortgage insurance often gets a bad rap. But according to new data, it actually helped more than 1 million Americans either purchase a home or refinance their ...


Leading mortgage lender Quicken Loans sees record loan volumes  CNBC

"We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says.


Freddie Mac is now offering renovation loans  Washington Post

Freddie Mac is joining the renovation loan space. While the Federal Housing Administration and Fannie Mae have had programs that allow borrowers to wrap ...


Should you get a personal loan instead of a HELOC or cash-out refinance? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

So you want to borrow some money and you're not sure about the right type of loan. Should you get a personal loan, home equity loan, or opt for a cash-out ...


Money mistakes you should never make after 30  Bankrate.com

We all make mistakes, but some cost us more than others. As you grow older, money mistakes can have bigger and bigger consequences. Financial miscues ...


Mortgage rates hold at two-year lows, giving borrowers another shot at the action  MarketWatch

Rates for home loans held steady and declined as financial markets bore the brunt of geopolitical upheaval and concerns about lower growth.


Millennial refinances see jump amidst dropping mortgage rates | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

It seems Millennial homeowners are taking advantage of lower mortgage rates. According to new data, Millennial refinances have officially hit their highest point ...


Mortgage rates move down for Wednesday  Bankrate.com

Multiple closely watched mortgage rates receded today. If you're in the market for a mortgage, see how your payments might be affected.


Mortgage brokers want relationships, not just tech, from wholesalers  National Mortgage News

Real value comes from the wholesaler using a hands-on approach to ensure that a mortgage broker's customers are treated to the best experience for the life of ...


Brooklyn family terrified of losing home because of predatory real estate practices  PIX11 New York

BEDFORD-STUYVESANT, Brooklyn — A Brooklyn family of eight could be left homeless because of deceitful real estate practices, but they're doing everything ...


Mortgage Closing Rate Rises to Highest Level in at Least 16 Months  Mortgageorb

Despite falling mortgage rates, the refinance share of total mortgage volume fell to 32% of all loans in May, down from 35% in April and down from 38% in May ...


KENYA : Kenya Mortgage Refinance Company already attracting international funding  Africa Intelligence

One of the many projects in the in-tray of the treasury secretary Henry Rotich since April 2018, the creation of the Kenya Mortgage Refinance Co (KMRC) was ...


Freddie Mac announces fixer-upper mortgage | 2019-06-19  HousingWire

Freddie Mac is launching a new mortgage product that allows borrowers to buy a fixer-upper and finance the renovation all with one loan. Existing homeowners ...


Mortgages for Seniors: Everything You Need to Know  U.S News & World Report Money

If you're retired and applying for a home loan, you're more likely to submit information about your pension and your 401(K) than a W-2.


'Now Is The Time To Refinance': Low Mortgage Rates Cause Surge In Refinancing  Forbes

Last week's massive dip in mortgage rates apparently pushed homeowners into action. According to new data from the Mortgage Bankers Association, ...


New Freddie Mac Mortgage Combines Purchase and Reno Loans  National Mortgage Professional Magazine

Freddie Mac has introduced the CHOICERenovation loan, which is designed for homebuyers seeking to purchase a home and finance the cost of renovations ...


With mortgage rates at 2-year lows, here’s how to decide whether to refinance your home loan  MarketWatch

More people are pursuing refinances as mortgage rates have dropped.


Mortgage market update 6-21  Atlanta Agent magazine

... from the previous week, according to the Mortgage Bankers Association, which was perhaps unsurprising considering the earlier report's record-high levels.


Freddie Mac Launches New Home Renovation Program  Mortgageorb

Freddie Mac has launched a new home renovation loan program that allows home buyers to also finance the cost of renovations with a single-close mortgage.


How shipping banks’ GHG focus impacts fleets and freight rates  FreightWaves

An exclusive interview with Citi's head of shipping Michael Parker on Poseidon Principles consequences.


Refinance mortgage rate ticks higher for Monday  Bankrate.com

Refinance rates were mixed, but one key rate notched higher. See what that means for you if you're in the market for a home loan.


Mortgage refinance boom goes bust as rates shift higher  CNBC

A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand.


Refinance mortgage rate advances for Saturday  Bankrate.com

Refinance rates were mixed, but one key rate floated higher. If you're shopping for a home loan, see what that means for you.


Mortgage refinancing spree becomes a race against the clock  Bankrate.com

Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ...


Serving an Untapped Borrower Community  Mortgageorb

BLOG VIEW: In today's tight purchase market, Veterans Affairs (VA) renovation loans can deliver a double, bottom-line benefit to lenders. *Service* members ...


Here Are Best And Worst Reasons To Refinance Your Mortgage  Bankrate.com

Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ...


Mortgage rates are low. Here's how to figure out if you should refinance  NBC News

Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage.


Wyoming Financial owner alleged to have trespassed on Delbarton man's property  West Virginia Record

WILLIAMSON – A Delbarton man alleges an individual trespassed on his property and incorrectly told him his suit over an alleged illegal loan had been ...


Refinance mortgage rates mixed for Monday  Bankrate.com

Refinance rates were mixed today. If you haven't locked a refi yet, see how your future mortgage payments could be affected.


5 Signs It's Time To Refinance Your Mortgage  Forbes

You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ...


Refinance mortgage rate dips for Saturday  Bankrate.com

Refinance rates were mixed, but one key rate declined. See what that means for you if you're in the market for a home loan.


Refinance mortgage rates mixed for Thursday  Bankrate.com

Multiple benchmark refinance rates were flat today. If you're in the market for a mortgage, see how your payments might be affected.


Refinance mortgage rate drops for Friday  Bankrate.com

Refinance rates were mixed, but one key rate ticked downward. If you're shopping for a refi, see how your future mortgage payments could be affected.


Refinance mortgage rate slides for Wednesday  Bankrate.com

Refinance rates were mixed, but one key rate declined. If you're in the market for a mortgage, see what that means for you.


What to consider before determining whether to refinance your mortgage  Washington Post

REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ...


Cash-out mortgage refinancing: Here’s where homeowners are using it most  Bankrate.com

Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...


Refinance mortgage rates mixed for Saturday  Bankrate.com

Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.


Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes  Credible News

Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind.


Refinance mortgage rate drops for Tuesday  Bankrate.com

Refinance rates were mixed, but one key rate trended down. If you're shopping for a refi, see how that could affect you.


Refinance mortgage rate slides for Friday  Bankrate.com

Refinance rates were mixed, but one key rate sunk lower. See what that means for your chances of scoring a killer refi rate.


Buying a House? A Credit Union Mortgage Might Be Best  SavingAdvice.com

If you're trying to buy a house, you might want to consider a credit union mortgage instead of a bank. Here's why it might be best.


Refinance mortgage rate ratchets higher for Tuesday  Bankrate.com

Refinance rates were mixed, but one key rate climbed higher. See what that means for you if you're in the market for a home loan.


Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ...


Did you refinance your home mortgage last year? You can still qualify for often-overlooked deductions  MarketWatch

f you refinanced your home mortgage last year, you may be in line for some often-overlooked tax deductions on your yet-to-be-filed 2018 Form 1040.


The 'after' picture of student loans: Credit card debt, smelly cars, pawn shops to make ends meet  USA TODAY

This story is part of a series about Americans' financial health, based on a survey provided by the FINRA Investor Education Foundation, a nonprofit dedicated to ...


Mortgage refinance applications hit 18-year low  CNBC

Mortgage refinance applications hit an 18-year low. With no major move in interest rates and continued weakness in home affordability, there was not a lot of ...


Refinance mortgage rate eases for Monday  Bankrate.com

Refinance rates were mixed, but one key rate slid lower. See what that means for you if you're in the market for a home loan.


Refinance mortgage rate ticks higher for Saturday  Bankrate.com

Refinance rates were mixed, but one key rate increased. If you're shopping for a mortgage, see how your payments might be affected.


Refinance mortgage rate moves higher for Wednesday  Bankrate.com

Refinance rates were mixed, but one key rate were higher. See what that means for you if you're in the market for a mortgage.


Mortgage application increase led by higher refinance volume  National Mortgage News

Mortgage applications increased last week but unlike the prior period, it was driven by refinance volume as interest rates fell to a one-year low, according to the ...


Refinance rates tick lower for Monday  Bankrate.com

Several closely watched refinance rates dropped today. If you're shopping for a home loan, see what that means for you.


Refinance mortgage rate moves lower for Wednesday  Bankrate.com

Refinance rates were mixed, but one key rate fell. The average for a 30-year fixed-rate refinance trended down, but the average rate on a 15-year fixed refinance ...


Rising mortgage rates again reduce refinance application volume  National Mortgage News

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to ...


Refinance mortgage rates mixed for Tuesday  Bankrate.com

Refinance rates were mixed today. If you're in the market for a refi, see how that could affect you.


Mortgage rates trend down for Wednesday  Bankrate.com

Multiple key mortgage rates receded today. If you haven't locked yet, see how your future mortgage payments could be affected.


Refinance rates move higher for Wednesday  Bankrate.com

Multiple key refinance rates notched higher today. See what that means for your refinance.


What homebuyers and refinancers should know about timing mortgage rate movements  Bankrate.com

It's important to remember that you have options when it comes to your mortgage and trying to predict interest rate movements. The options, however, get more ...


Freddie Mac Enhanced Relief Refinance (FMERR) 2019 guidelines, rates, and benefits | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

The Freddie Mac Relief Refinance Program (FMERR) allows homeowners to refinance with little or no home equity. Home value dropped since you purchased?


Refinance rates rise for Friday  Bankrate.com

Multiple closely watched refinance rates notched higher today. See what that means for you if you're in the market for a home loan.


Can You Refinance a Reverse Mortgage?  Yahoo Finance

Reverse mortgages can offer homeowners ages 62 and older access to home equity. As with a regular mortgage, a reverse mortgage can be refinanced, and ...


Refinance rates trend higher for Wednesday  Bankrate.com

Several closely watched refinance rates notched higher today. If you're in the market for a home loan, see what that means for you.


Still haven’t refinanced your mortgage? You still have an opportunity to save big  Bankrate.com

Mortgage rates seem to be the only thing that's affordable in today's low-inventory, high-priced housing market. This is good news for both homebuyers and ...


Refinance rates rise for Thursday  Bankrate.com

Multiple closely watched refinance rates trended upward today. If you're in the market for a refi, see how your future mortgage payments could be affected.


Mortgage refinance booms are a thing of the past: MBA chief economist  National Mortgage News

The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade, said ...


Refinance rates advance for Tuesday  Bankrate.com

Several closely watched refinance rates notched higher today. If you're shopping for a home loan, see how your payments might be affected.


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