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Disadvantages of Investing in Seller Owned Mortgage


 The disadvantages to buying an existing seller financed mortgage are:

bulletThe interest rate may be lower.
bulletThe mortgage term could be longer than you wish. But remember that most mortgages are paid off or refinanced after 7 years.
bulletThe Loan to Value may be higher, which makes the loan riskier. But remember if you pay, say $35,000 for a $40,000 mortgage, which is secured on a home worth $50,000, you have only invested $35,000. So your Investment to Value is 70% not 80%. (35,000/50,000 X100% not 40,000/50,000 X 100%).
bulletThere may be terms in the loan that you do not like. No late charges for instance.
  

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Why people sell mortgages
Ten top reasons why people sell mortgages

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[Buying existing mortgages] [What is owner financing?] [3 advantages] [4 disadvantages] [Why people sell mortgages] [The effect of compounding] [Partial purchases] [Evaluating potential foreclosure] [First or second mortgages?] [Frequently asked questions] [Valuation seller-held mortgage] [The 5 Cs. Collateral] [5Cs. Credit and capacity.] [5Cs. Commitment and consistency] [Discounted mortgage calculator] [Mortgage credit  ratings] [Owner occupied real estate] [Non owner occupied real estate] [Commercial real estate] [Find seller financed mortgage] [Find owner financed mortgages (contd)] [On-line mortgage and note buyer database] [Legal questions] [Mortgage and deed of trust purchase contracts] [Final steps] [Mortgage fraud] [Paying for seller held mortgage] [American Cash Flow Association]

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