Mortgage Lending for Home Sellers who can not sell - WSJ.com

Mortgage Lending for Sellers
By AMY HOAK

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It's much harder to get a mortgage today than it was a couple of years ago. That's why some home sellers are stepping in and financing deals on their own.

The concept of owner financing isn't new, though it wasn't as popular when mortgage money was easier and cheaper to come by through traditional lenders. But in today's tough real-estate markets, being able to finance the sale of your home can give a seller an edge. "There are a lot of good buyers out there that can't get loans," says Dawn Rickabaugh, of Rickabaugh Realty, in Pasadena, Calif. "When you eliminate the hurdle of qualifying for a bank loan, you'll double the amount of buyers interested," she says. Ms. Rickabaugh also oversees the owner-financing Web site NoteQueen.com.

Mortgage Lending for Sellers - WSJ.com