Software for seller financing

[Arthur Schwartz]

Hello and happy holidays!  I have a possible seller financing opportunity, where I would be the buyer.  Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end?  Thank you!

[Chris Seveney]

Quote from @Arthur Schwartz:

Hello and happy holidays!  I have a possible seller financing opportunity, where I would be the buyer.  Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end?  Thank you!

 you do not want software its too expensive - you will want to use a third party loan servicer. For example we are lenders and buy notes and we use madison management out of nevada. Other companies people use are SNSC, FCI, Landhome, Homekey and others.

That would be your best bet. The lender is the one who sets this up as they are the ones who typically pay since its them who is to provide this as well as keep track of the loan, but only be a borrower if they use a servicer.