Posted by SJ on August 29, 2011 at 21:15:28 from (50.48.125.22):
Anyone one ever held a partial mortgage on a home sale?I did once on my last sale 14yrs. ago for 4K.Got about 3-4 payments and that was it.Figured sooner or later house would be bought and mortgage held was legally recorded in county and somebody would have too pay me my money to get a clear title.Yeah right keep dreaming.Now I have a chance to sell existing home and hold a 30k mortgage for 2yrs.with 100k up front.If I even considered this offer what are the advantages and pitfalls.I know I can run all this through my lawyer,but I was looking for some personal opinions or anybody that has done this type of transaction.
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