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Ok, after having our house listed for 6 months with no action, I am considering selling it land contract, and I have been receiving a ton of calls. I want to make sure that I am not screwing myself by doing this though.

My wife and I bought this house with FHA first time homebuyer $$. Now, with selling it land contract, we will still hold the deed to the house, and once it is paid off transfer it to the new buyers (land contract). I have read that FHA loans can be accelerated if they are sold to a person who "is an investor, or whose credit has not been approved in accordance with HUD requirements".

Am I screwed since I can't sell it? Or will we be OK since it is a land contract, and I will still own it until I am paid off? Meanwhile, I keep making the payments to the bank on the amount that I owe?

Will I gte in big trouble since I am going to have to have the payments sent to my new house, and trigger an address change? Or, will they not care since they will be getting their money?


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