Monday, October 30, 2006

Yes, yes, yes..Housing Boom Gone Bust, but that doesn't mean the hosuing boom is over! That sure doesn't mean that it's over and not if credit repair or credit restoration have anything to say about it. Let's examine the effects of the housing phenomenon when there is credit restoration for free available.

Free credit restoration and free credit repair are one in the same. First and foremost, let's take a credit report into consideration. The credit report of a FICO score can be improved and that will give new life to the housing arena when credit restoration takes effect.

Gotta go for now, but I'll be back in a few Free Credit Repair days to blog some more credit restoration news. Be safe!

Friday, October 27, 2006

Let's get this much straight right now. You can do a lease-purchase, lease-to-option or lease with seller carry back, but all in all there is nothing better than owner financing. Owner financing is the solution for a buyer that wants to purchase a home or condo in today's marketplace with a minimal of qualifying criteria. Yes, the owner financing option is th real estate solution for many in the real estate world that consists of a buyer's market.

Let's examine the difference between renting or leasing as opposed to a lease-option or a contract for deed. By the ned of such a real estate financing study, we would certainly conclude that the interest rate on a lease-option is somewhat different than the interest rate on a mortgage where the seller was carrying the financing on a second mortgage. How can one locate a property where the seller is willing to hold a second mortgage? This can be found at sellers helping buyers.

To conclude this real estate financing phenomenon, let's mention the lease-purchase one more time in conjunction with a seller financed second mortgage. This is owner financing deluxe. As a matter of fact, this is the difference between a housing loan financed with the seller's assistance or a real estate financing transaction with a seller second.

Sellers Helping Buyers

Monday, October 23, 2006

Seller Held Second mortgages are going nuts these days! Boy do I have alot to write about this type of owner financing, but I don't have alot of time today so I'll have to keep this seller held second phenomenon post short. Let me begin by bringing everyone - that is buyer's and seller's in a real estate transaction - up to speed. First and foremost, in my opinion, there is no faster way to sell real estate in a buyer's market than with a seller second. The seller must have sufficient equity in the subject property to be able to hold the second mortgage for the buyer. the seller is in effect, the mortgagee and the buyer is the mortgagor.

Second, the seller held second mortgage is booming and no more appropriate place to discuss this than on this real estate blog. the owner financing and interest rates that accompany this type of transaction are up to the buyer and the seller. It is quite possible (and probably recommended) to use a real estate broker, but a for sale by owner can accomplish this as well.

well, like I said, I have to get going here so I'll just have to let you know that the seller held financing is certainly the way to go in a buyer's market. Here's to a fast real estate closing for you and your buyer's.

Seller Financing

Owner Financed Property

Sunday, October 08, 2006

Selling real estate in today's marketplace can be alittle more of a challenge. This is particularly in evidence as one considers that there are millions of homes for sale in every city as either for sale by owner or on the MLS. And where are all of the buyers?

Buyers are the precious commodity in real estate transactions in 2006 and what can be done to increase the pool of buyers for real estate homes and condos for sale? The answer may be found in owner financing. Owner financing or seller held financing can come in a number of forms. One option is a seller held second mortgage and another option could be owner financing with a new first mortgage held by the seller. Let's look at each of these options in some real estate detail and see if we can't figure out what seller held finaning is really all about when it comes to real estate owner financed transactions.

A new first mortgage is traditionally originated by an institutional mortgage lender and this is typically done without the assistance of a seller of real estate. This is not to say that the seller would not be assistaing with paying seller's closing costs, but the seller can in fact, pay the buyer's closing costs on a real estate sale and this is called a seller concession for buyer's closing costs.

Secondly, there are other factors to consider when studying the relationship of a seller to a buyer when the seller is holding paper on a seller held second mortgage. The seller must have sufficient equity in a real estate property to consider a seller held second mortgage. This can be of great assistance to a buyer if the seller holds a second mortgage. there are many types of seller held second mortgages and this is not uncommon in the real estate marketplace of which we are currently experiencing.

In conclusion, the seller held second mortgage is not for everyone. There are certainly risks involved in a seller held second mortgage and you should consult a qualified real estate attorney before becomming the mortgagee on such a financing type of owner held paper.

Seller Financing