WAYS WE CAN USE CREATIVE FINANCING TO SELL YOUR HOUSE
SHORT SALE
A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.
SUBJECT TO
Refers to the practice of purchasing real property on which there is an existing mortgage and, rather than paying off or assuming the mortgage, simply allowing it to remain on the property in the original owner's name.
SELLER FINANCING
Seller financing is when you get a mortgage to buy a home from the home’s seller instead of a bank.
*Disclaimer: Cardinal Homes Design Group or myself are not financial advisors and provide this information as possible financial strategies to assist you with your housing solution. CHDG encourages you to seek the advice of your financial advisor and lawyer before engaging in any financial transaction.