There is a growing market segment where sellers do the lending. The seller extends credit for the purchase of a property and agrees to accept buyer payments over an agreed upon period. This approach provides buyers with an alternative financing option and helps to close many deals that may not otherwise happen. This practice is commonly known as "Seller Financing," and LoanCare is a Seller Finance Subservicer.
The benefits of Seller Finance come with a variety of challenges that are resolved with account servicing. There are accounting needs, tax reporting and paperwork hassles that come with servicing a note. LoanCare strives to minimize those challenges so that buyers and sellers can enjoy the benefits of a private real estate sale without the hassle. Servicing also eliminates payment disputes between the parties. LoanCare provides the buyer with a number of ways to make their monthly payments and the seller will receive their disbursement in a timely manner by automatic deposit or check by mail. LoanCare has competitive fees and offers a variety of services that are detailed under The Features and Benefits section of this website.