I have land that I want to sell under owner financing or lease to purchase or both. The land "SOLD" and the purchaser and I are not quite sure how to do this. Under my mortgage there is not "Due on Sale", furthermore I called my mortgage company and I was told as long as they continue to make payments, I could do what I wanted.
I am hearing different things from different attorneys. I want to finance 100,000.00, seller putting 20K down, will make her monthly payments directly to my mortgage company (already said ok) plus (my bank draft securly pays my mortgage). Then every FEB for 5 yrs or until loan is payed in full buyer will pay 10K (every feb)
Can I finance the whole amount or just the amount that is left over after my original is paid off.