A homeowner called today. House is worth around 100k. First mortgage is V.A. with 5.5% loan 87k balance. Second with HFC with a 27k balance (unsure of interest, knows its a lot higher).
He is almost willing to take the second mortgage with him, and allow me to take over payments on the first. If I were to owner finance to a lease optioner, or do a land contract, how would I structure this so that I know he is making payments on the second, or is this even doable?