What happens if you buy a owner financed home and the owner dosent repay the existing mortgage?

Credit and mortgage advice Forums Buying Your Home Buying Your Home What happens if you buy a owner financed home and the owner dosent repay the existing mortgage?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 5 months ago.



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    Anonymous

    I am getting ready to buy a home and land from a family member, through owner financing. The land and house currently has an existing mortgage, what will happen if the owner dosent pay the existing mortgage? Im not sure how owner financing works.
    thanks



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