My husband and I are in West Texas and are trying to figure out the best way to handle a VA mortgage that is still in our names on a property that was sold through a wrap-around/owner-finance agreement.
We hold the mortgage, but the borrowers/homeowners hold the deed and live in the home. Their current 5-year owner-finance contract ends in October 2026, and they have indicated they do not expect to be able to refinance into their own names before the balloon payment is due.
We are exploring whether a qualified investor could potentially assume the existing VA loan and take over the owner-finance position. Our goal is to remove the mortgage obligation from our credit.
This is not a home to purchase or occupy. It would be an owner-finance/note position that would need to be handled properly through the loan servicer, title, and legal documentation.
Has anyone dealt with something similar involving a VA loan assumption, wrap-around mortgage, or Texas owner-finance contract? Would this be something a note buyer, creative-finance investor, or an eligible investor might realistically consider?
Not looking to spam or pitch the deal here — mainly looking for guidance on where to find the right type of investor or professional to review it.