A Consumer Who . . .

• Has sold their home and carried back the note.
     
• Wants to ensure that installment payments are deposited timely to their account.
     
• Wants the convenience of not having to collect the payment, and doesn't want the stress or awkwardness of sending late notices.
     
• Wants to make sure their property is properly insured and taxes are kept current.

What Does this Mean?

• The buyer can close with less cash.
     
• The buyer agrees to pay a certain amount to the seller over time, with interest.
     
• The buyer does not undergo the credit underwriting scrutiny of the secondary market.
     
• Should the buyer default on the loan, the seller can take legal action to regain possession of the property.