Hi,
I currently own a home in Kansas in which I sold contract for deed and took back possession in July. I have it listed to sell and realtor says current FMV is 79,900. We have lowered price to 62,500. I currently have two mortgages one for about 26,000 and one for 25,000. It does need a new roof and two ceilings need fixed from recent leaks and the flooring in bathroom needs replaced. Also new carpet in two rooms. My question is: Is there a way to Owner Finance and be able to fix the repairs and maybe possible pay off one of the notes? I am new to all of this so bare with me. Just looking for a way to keep from foreclosure. Payments are currently 356.00 and 376.00. Credit is not real good right now so refinancing is probably out of the question. I am not really sure about the Sub2 deals. Can anyone give me some ideas about how to rectify this situation? Or can you tell me where to find out more information. Is it possible for someone to buy some of my payments in order for me to pay off one of the notes and carry the second myself. Not sure how that all works. Would appreciate if anyone could shed some light for me.
Thank you,
Stewarts3x