I am a first time homebuyer and my mother is actually financing my home. She has done this for another family member, and does it through an escrow company. Basically she charged them little interest, and had them make their payments through the escrow company. Are there any other ways of doing this? I am not paying any interest on this. My idea was that she could write the check to the title company, and then we would set up two bank accounts. One would be where the monthly payment would go into, and one would be where I set aside my property taxes. If we go about it this way, are there companies that would be able to draw up a contract?

Any suggestions are welcomed...