How can i sell my house on owner carry when i still owe on my first?.......i still owe to the bank?

i've heard of a wrap and a land contract .. also who is responsible for taxes and insurance?

these arrangements are controlled by local law where the house is and your contract [mortgage] with the bank.

some banks and localities do not permit these deals, so people who do them anyway keep it quietly under wraps.

others are ok with it and won't interfere as long as you don't damage their interests.

my guess is that taxes and insurance are being handled now via escrow with the bank, this will continue.

as to who pays 'em, if your intent is to create an equitable interest in the property for the buyer, he pays you for them and it is added to his P&I just like it is for you.

you need to check your local laws for sure though ... i've heard rumors that some places banned either or both wraps and L/Cs -- despite that L/Cs have been around since forever.

google is your friend. findlaw.com might work too.

GL