im selling my house to a buyer who only has 25k to put down on the home loan (5 % ) he needs 10%?
the buyer only has 5% (25k) to put down on the loan towards the purchase of my home. my agent offered me an option of loaning the buyer the other 25,000.00 in the form of a second mortgage trust deed after the loan closes to loan him for the down. in return the buyer will pay me monthly for this loan with a lein on his home until he has fully paid me. does this sound like a good idea?