Real Estate's Trend Toward Owner Financing
There is a trend in real estate toward owner financing. This is most notable in recent months. Single family homes as well as condos and other residential and commercial proerty types are all candidates for seller held second mortgage loans. This is essentially seller financing (also called owner financing) and this is increasing in popularity.
Seller Held Second Mortgage
Owner Financed Property
Seller Will Carry A Second Mortgage
The above are just a few examples of the terminology that is used in this real estate trend. The first mortgage is with a bank and the second mortgage is held by the seller of the property. Hence the term bank financing and seller financing. In the above scenario, the seller is also the owner and this is why seller financing and owner financing are interchangeable in a real estate glossary of financing definitions.
Stay tuned for more information about owner will carry.