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Updated almost 11 years ago on . Most recent reply

User Stats

31
Posts
32
Votes
Kyle Bigger
  • Flipper/Rehabber
  • Bend, OR
32
Votes |
31
Posts

How to go about paying Mortgage

Kyle Bigger
  • Flipper/Rehabber
  • Bend, OR
Posted

I bought a few places under seller financing, and I was wondering how to structure my payments to them (just mortgage and interest, the taxes/insurance will be handled separately).

The two things I want accomplished in each payment:

1) I want the payments to be automatically withdrawn from my account

2) I want receipt of payment toward mortgage each month.

So my question is, should I be doing this under some type of mortgage escrow account. Should I just setup an automatic deposit into their account from mine each month, and have them mail me a receipt? Or is there any creative ways of going about this that I should know about?

Thanks in advance!

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