Loan Managers?

[duncan_m]

I'm selling some of my houses and plan to leave 5-10% in the deal for the buyer as a P&I loan over 5 years..

Unlike my approach to property management, I'd like to be hands-off with these loans if possible..

It occurs to me that there's a market for people who "manage loans".. chase up arrears, provide statements etc.. a "Loan Bureau" or "Loan Manager".. do these sort of things exist?

 

[TomL]

What are the terms of the loan.

How complicated are they?


T.

 

[duncan_m]

What are the terms of the loan.

How complicated are they?


T.

I dont have a loan agreement drawn up yet.. but I'd expect it to be fairly simple.. secured by 2nd mortgage..

 

[APerry]

Hi Duncan,

I have heard of a guy that manages Wraps for Rick Otten and some of his clients, they would probably do this for you. I don't have the contact details but could probably find them if this interessts you.

Regards
Alistair