owner financing

[Administrator]

We have been leasing a home for over a year, we put 10,000. down and are now going to use the owner finance option. How does this work? The seller wrote up a contract through a andquot;friendandquot; with a title company but it seems to me the bank holding the mortgage should be involved. What do I need to do, or what should I be looking for? What are the usal steps?


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(Source: mortgagefit.com)