Holding a mortgage

Happy Easter everyone!
I am new to this site but it looked very interesting and maybe some folks can help.

I need some help about holding a mortgage for someone else. Have never done this and would like to do so. Anyone have experience with this that can help?

Appreciate any response! SuzyQ

Why do you want to hold a mortgage for someone?


In simplest forms here’s how its done.

Draw up contract of sale legal for your state
Determine an interest amount.
Run a loan amortization schedule to set payment/interest.
sign documents
Record Deed where you will be the 1’st on title