I bought a house years ago through owner financing. I paid a large amount down and paid on it for several years and did a lot of remodeling as well. Behind my back, the people I was buying it from borrowed money on the house and then did not pay it back. Long story short the house was repossessed and we had no recourse and lost the house. We had to start over and lost all the money we had sunk into the home. It was a very dark time for us. I wasn’t sure I could get through it, but I did and I have a home again now. I will never do anything through owner financing again, we had a lawyer draw up papers and everything but it didn’t do us any good.
That was such a bad a experience. Nowadays trust is not in people vocabulary. Thank you for the answer Sandra.