Millions of homes are sold in this country every year. In most cases, buyers go to a bank or finance company to seek mortgage financing.
In some cases, 200,000 in the US, home buyers rely on the seller rather than a financial institution to provide financing because:
o The buyer may not qualify for a traditional mortgage.
o The buyer can be a family member who wants to save on closing costs.
o The seller may be interested in a long-term income stream.
Often the seller is pressured to provide financing for the buyer rather than receive a lump sum. This forces the seller to take on the role of mortgage company and worry about maintenance and collecting a monthly stream of income. A flow, which may or may not be consistent, depends on the payer's ability to meet its monthly obligations.
Peacock Capital offers an option to list holders nationwide who are ready to sell their home and use the equity for their own purposes.
We buy the ticket for a fixed amount and collect the monthly checks. No more worrying about the "check is in the mail" or "Will they stop paying and be forced into foreclosure?" Or, "Did my buyer keep track of his insurance payments?" etc.
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