[cicy33]

That sounds like contract for deed. Basically what you do is pay the owner of the house a down payment, usually around $2000 based upon a $30,000 home. Then you make monthly payments to them. Approximately half of it goes toward the principal or whatever arrangement you make with them. Then about 1 to 2 year later, you go to the bank and the owner shows that you have paid XXX dollars down via this method and you can use this as credit as well as a down payment. this is a good idea if you can finance it yourself within a short time. It can be more expensive in the long run though. depends upon the agreement. Also you always have the option to walk away at any time with no consequences but you lose all you paid into it including the down payment. Generally you are the one that pays the taxes too.