This where a Seller carries a second mortgage lien behind the bank to either make a no or small money down deal. The Buyer will then make two payments each month – one to the senior bank lien Holder and a second to the private Seller.  Keep in mind that this option holds risks for the Seller. If the Buyer pays only the first lien Holder, the Seller must have enough equity or cash to foreclose and pay off the first, larger lien Holder. Likewise, if the Buyer only pays the smaller second lien, the Seller still risks losing the property if the senior lien Holder forecloses.