What is the difference between “Subject-to” and “Land Contract”?

difference between Subject-to and Land Contract

A “subject to” and a “land contract” are both real estate transaction terms that involve the sale of property, but they represent different approaches and legal structures. Let’s explore the differences between the two: 1. Subject To “Subject to” refers to a real estate transaction where a buyer purchases a property subject to the existing […]

Owner Financing: What is it and how it works

Owner Financing What is it and how it works

Owner financing, also known as seller financing or purchase money financing, is a real estate arrangement where the seller of a property agrees to finance the buyer’s purchase instead of the buyer obtaining a traditional mortgage from a bank or other financial institution. In owner financing, the seller effectively becomes the lender, allowing the buyer […]

What is a Deed in Lieu of Foreclosure?

Deed in Lieu

At Southern Loan Servicing, we are here to help you learn about your options and make seller financing more accessible. Today, we’re covering a deed in lieu of foreclosure, which can offer some security for hesitant sellers/lenders. A Deed in Lieu of Foreclosure (DIL) for owner financed loans is a similar concept to the traditional DIL, […]

What is Escrow in a Mortgage?


In a mortgage context, escrows refer to funds that are set aside and managed by a neutral third party (usually a title company or an escrow company) to cover certain expenses related to the property. These expenses typically include property taxes and homeowners insurance premiums. Escrows act as a safeguard for both the lender and […]

What is a Loan Servicing Company?

A loan servicing company handles the financial transactions after an owner-financed sale has been agreed upon. Acting as a neutral party between buyer and seller, or borrower and lender, alleviates the stress of managing the loan. With over 35 years of experience, Southern Loan Servicing can help with any amortizing mortgage loan servicing.

Are you wondering why you should work with a loan servicing company?

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We’re excited to share a series of educational videos with you over the next few months that we hope will answer some key questions about working with Southern Loan Servicing!  Title Companies that work with our Loan Servicing company are able to offer their clients a better service experience. And get the closing on the front and […]

What is a “subject to” mortgage?

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This is a sale where the seller is not paying off the existing mortgage, but rather having the new buyer pay the mortgage obligations. That means the seller maintains the responsibility of paying off the loan, but the buyer has agreed to make mortgage payments on behalf of the original seller. When you buy a […]

What is a wraparound mortgage? 🤔

Door with Key

A wrap-around mortgage, also known as an “all-inclusive mortgage” or a “wrap loan,” is a type of financing arrangement used in real estate transactions. It is a secondary financing option that allows a home seller to offer their property to a buyer while still keeping the existing mortgage in place. Here’s how a wrap-around mortgage […]