Seller-Finance Auto Payments and Statements

[Tony S.]

Hey guys,

How do you automate seller-finance payments so that they auto deduct from your account every month and auto-deposit into the seller’s account?

Also, how do you generate automatic statements every month?

Any help would be greatly appreciated. Last time I did seller finance, I literally mailed a check monthly and manually generated loan statements. Now I want to do it right this time around so I don’t have to think about it (especially since I have a 25 year term on this seller finance note).

Thanks,

Tony

[Chris Seveney]

@Tony S.

Use a licensed loan servicer. That’s the best way as they do all of that for you. Costs around $25/mo but well worth it. A firm investors use is bifi loan servicing