We bought our house with an FHA loan, and we're still paying the mortgage. If we decide to move, could we sell it to someone and offer owner financing? Or would we have to pay off our loan first?
The housing market isn't very hot here - typically homes are on the market for 30+ days before they sell, and I don't really want to deal with the hassle of being a landlord. But if it's possible to owner finance that may bring in more potential buyers.
I know that when we were house shopping before, I reached out to one of those, and they required a couple of thousand down - either in cash or goods like ATVs or cars, and then the interest rate they charged was on par with credit cards. I imagined trying something to that effect here, but I'm not sure what kinds of risks are involved there other than someone defaulting on the (mortgage?) and having to... repossess the house or whatever it's called.