Housing Sold With Seller Financing A Second Mortgage
There are numerous housing sales presently occuring whereby the seller is holding a second mortgage. Some people are obtaining a mortgage on the first (from a bank) and a mortgage from the seller also called a 'seller second'. This dynamic is taking real estate by storm - housing is going gangbusters I say!! I'm silly like that abut owner financing.
OK, back to reality now. Seller seconds have been in existence for some time although real estate transactiosn have been without them in recent years because of the bidding wars in the driveways. The bidding wars are NO MORE and the only ones that are standing in the driveways are the seller - who incidentally, is argueing with a listing realtor about why there is no bidding war in the driveway. Now one thing is for sure and that is that a good listing realtor or listing agent will not kid the seller and overprice the house. This is also called 'priced to sit'. 'Priced to sit' or 'priced to sell' has been the real estate montra in past years before this buying frenzy and do I mean frenzy has been going on in housing. The new saying in real estate today is now 'seller held seconds' and you can either be the first or the last with this real estate phenomenon. Are you with me?
OK, moving forward, this is starting to get silly sounding but it does have a lot of words like housing and second mortgage. Not to mention real estate, seller held second, owner financing and owner will finance with a second mortgage. OK, enough promotion - as you can tell, I do like the site seller financing and owner financing. So check it out.