What if I need my money?

[Kendra T.]

Hi guys,

I have a few properties that are cashed out. Yay me! I also know a lot of people who have foreclosed on their previous homes due to the real estate crash and job circumstance but have also gotten back on their feet and are paying high rent right now.

I'm interested in selling a few of my properties using seller financing. I think I understand the basics of it, but the question is, what if I need to take the equity out of a particular house?

For example, the house is cashed off at 100k. Seller financing purchase price at 130k. But I might need 75k down the road. How do I take out money from a paid off house that is also in a seller financing contract?

Is that legal? Or possible?