Mortgage terms.

[Christina Davis]

Have opportunity to have full seller financing. Price has been agreed to, $50,000 with zero interest. Seller wants to do this over 15 years so that they will have a monthly income of about $275 from the property. If property was sold for $30,000 with 7.5% interest the monthly payment would be about the same. Since the owner would be getting the same desired income, what are the advantages/disadvantages for both sides in both scenarios?