When you buy a lot from us, you don't write us a check every month. You don't mail a payment to a P.O. Box. You don't wonder where to send the money or whether it got there.
Every monthly payment runs through Lendiom, a payment platform built specifically for owner-financed real estate. Buyers see a clean dashboard. We see a clean record. The county tax office sees clean documentation if they ever need to.
Here's how it works on our deals, why we chose it, and what it means for you.
What Lendiom is
Lendiom is a software platform that:
- Manages monthly recurring payments for owner-financed real estate contracts
- Sends statements and reminders to buyers
- Tracks principal, interest, late fees, and remaining balance
- Provides a transparent record both seller and buyer can access
- Handles ACH, debit card, credit card, and check payments
- Issues year-end summaries (useful for tax purposes)
Think of it as the "service department" sitting between us (the seller) and you (the buyer), so neither party has to manage the operational side of the contract manually.
Why we use it instead of a personal arrangement
Some owner-financing sellers handle payments themselves. They take checks, mail receipts, manage their own ledgers. We don't do that, for a few reasons:
1. Transparency. When you can log in and see your full payment history, current balance, and remaining principal at any time, there's nothing to argue about. Most disputes between buyers and sellers come from unclear records.
2. Audit trail. If we ever needed to prove your payment history (for example, in a refinance situation, or if a tax authority asked), the record is automatic and verifiable.
3. Convenience. You can pay from your phone. We don't have to deposit checks. Late notices send themselves.
4. Continuity. If anything ever happened to us — a death, an illness, a transition — your contract continues to be serviced by Lendiom regardless. Your payments don't suddenly land in limbo.
These reasons add up to a better experience for everyone.
How you set it up
When you sign your Contract for Deed, we set up your Lendiom account during the same session.
What you'll provide:
- Email address
- Phone number for SMS notifications (optional)
- Bank account info for ACH (most common payment method)
- Or debit/credit card if you'd rather pay that way
What you get:
- A login to the Lendiom buyer dashboard at lendiom.com
- Email confirmation of your account
- Visibility of your contract terms, payment schedule, and balance
The whole setup takes about 10 minutes.
How payments work
The standard flow:
1. Pick your payment day. Default is the 1st of the month, but we can set it to any day that aligns better with your paycheck schedule.
2. Pick your payment method.
- ACH from your bank — free, automatic, the most common choice
- Debit card — small processing fee (typically 2–3%)
- Credit card — bigger processing fee (typically 3–4%), but lets you build credit card rewards
- Manual check — possible but discouraged; harder to track
3. Lendiom debits the payment automatically each month. You don't have to remember.
4. You get an emailed receipt showing the payment was processed and your new balance.
5. You can log in anytime to see history, statements, and your remaining schedule.
What you'll see on the dashboard
When you log in to Lendiom:
- Current balance — what's left on the contract
- Next payment date and amount
- Payment history — every payment you've ever made, with dates, amounts, and how it split between principal and interest
- Schedule — your full amortization showing every payment from now to payoff
- Statements — monthly statements for your records
- Tax summary at year end — total interest paid, useful for taxes
This is what we mean when we say it's transparent. Nothing hidden. You can verify everything in real time.
What happens if a payment fails
If your bank rejects an ACH (insufficient funds, account closed, etc.) or your card fails:
- Lendiom retries automatically — usually 3 days later.
- You get an email and SMS notifying you the payment failed.
- A failed-payment fee may apply depending on the contract terms (typically $25–$35).
- You can log in and update your payment method to fix it.
- If the second attempt fails, the payment is treated as missed and we follow up. We have a post on what happens if you miss a payment.
The platform makes it easier to recover from a temporary issue without it spiraling into a contract problem.
What happens at payoff
When your contract is fully paid:
- Lendiom shows the contract status as "paid in full."
- You get a final statement confirming the payoff.
- We move forward with the deed transfer (early payoff process).
- The Lendiom account stays active for record-keeping — you can still log in and see your full history for years to come, useful for taxes or future transactions.
The privacy and security side
Lendiom is a real software company with proper security:
- Bank-level encryption for payment info
- ACH access requires bank account verification
- Two-factor authentication available
- Standard privacy practices — your data isn't sold
Your bank account info is stored on Lendiom's secure infrastructure, not on our laptops or in some shared spreadsheet. That's a meaningful upgrade over informal payment arrangements.
Common questions
"Can I pay extra to reduce my balance faster?" Yes. Send any extra amount through Lendiom anytime. It applies to principal and saves you future interest.
"Can I skip a month if I'm paying ahead?" Generally no, but talk to us. If you've prepaid principal, you've already saved on interest, but the regular monthly payment schedule continues until the contract is paid in full.
"Can my spouse/partner have access too?" Yes. Multiple users on a single contract is common. We set this up at signing.
"What if Lendiom goes out of business?" Your contract is between you and us, regardless of what platform processes payments. If we ever needed to switch platforms, we'd transition you cleanly with no interruption to your payment record. We'd never let a payment processor's issue become your problem.
"Can I use Lendiom on contracts with other sellers?" Yes — it's an industry-wide platform, not specific to us. If you have other owner-financed deals, you might already have an account.
"What does it cost me?" Nothing for the buyer. ACH is free; card processing fees come out of any debit/credit transaction you choose to use. We pay the platform fees as the seller.
What we love about it
Honestly: it just works. We've been doing this for a while now, and we've watched the difference between "we handle payments ourselves" and "we use Lendiom" play out for sellers in the property's region. Lendiom is dramatically better for both sides.
If you're shopping around with other owner-financing sellers, ask them how they handle monthly payments. If they're using a real platform — Lendiom, MoneyHero, or similar — that's a green flag. If they say "just send a check to my P.O. box," that's not necessarily bad, but it's a signal that operations are informal.
Ready to do this?
Browse our lots, pick one, and call us at (205) 202-9620. We'll have you set up on Lendiom the day you sign.
— Providential Real Estate