Seasoning a Note: Reporting Seller Financed loan to buyers credit

[Randal McLeaird]

I'm about to seller finance my first two deals and I want to know if/how I can report the the loan to the buyers credit. Is this possible?

The main reason I want to know this is because I want to season the notes for re-sale.

The other reason is so I can give the buyer a better chance of refinancing if I don't sell the notes. I read some of the threads about structuring the notes so they are easier to sell by using a 1st and 2nd and the pro's and cons but none of them dealt with the fact that you need to prove the payments were made.

If you all use a very simple method to show payment history, and don't report the their credit, (copies of checks) - thats all well and good. But I'm trying to set up a system where I don't have to physically go and collect checks or go to the bank to deposit those checks. I'd rather have the buyer go down to my bank and deposit cash/check/money order. If there are other systems or ways to go about this please let me know.

Also, anyone who had a buyer refinance - can you give an example? Did you report their payments to credit or did their bank use bank statement and copies of checks (like a buyer who was renting) to prove payment history?

Thanks