We've been approached by someone who's interested in buying our home and we are certainly interested in selling. Here's the thing. The interest rate on our mortgage is much better than what they could get if they applied for a new loan now. Could we just sell it to them on a contract for deed and keep paying on our existing mortgage loan?
Pull out the copy of the promissory note and mortgage. You will probably find that it requires the home to be owner-occupied, with the owner being you. You can't move out, turn it into someone else's property, or turn it into rental property, for that matter, without violating the contract. Check to see if there is a clause in the contracts that would allow someone else to assume your mortgage, with lender approval. If so, that is an avenue you might want to pursue. Review the legal documents, then call your lender and chat about options.
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Pull out the copy of the 