Seller financing makes a strong comeback

Remember those days when the interest rates were at such high rates the only way people could qualify for a loan was to get seller financing? They are back.... Well kind of....

Even though interest rates are low that has not stopped the lenders from tightening the requirements of underwriting. Just a few days ago i had an agent that appeared offended that an underwriter actually denied a loan for a past due bill. This amazing demand that the underwriter has to pay bills on time causes people to have to actually take care of their obligations. This causes a vacuum that the sellers can fill.

Land Contracts, Promissory Notes and other options are available to buyers and sellers to complete transactions. The seller gets a better interest rate than a savings account and the buyer gets the mortgage and the home they want. A Win win for all parties involved that can result in both parties achieving their goals.