Owner Will Carry

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The details of the mortgages and trust deeds are left to escrow companies, attorneys, real estate brokers. Housing consumers have only dim perceptions of the primary and secondary mortgage market. They don't really understand the effects of disintermediation on their qualifying for a new long term mortgage loan.
Many times, especially when mortgage money is "tight", they are outraged at being disqualified for a loan; or at being required to pay as much as 25% down; or at having to pay 7 "points" at closing when the original application specified 3 points; or at having the interest rate jump a full percentage point, with the loan pay-back term being reduced to 25 years.

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