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Updated over 7 years ago,
All Inclusive Trust Deed or similar in NC?!?
Hi everyone, come here to post about how frustrating it is getting good LEGAL information here in NC even from the professionals. Ive spent 10 days reading, asking, calling, yet very little has been answered definitively. If anyone here has anything to offer, Im happy to learn.
Stepmother is in default on her property, and going to let it foreclose. I can afford the payments but can't secure outside financing, but I want to get it as an investment property. In the category of Seller Financing, there is something called an "All Inclusive Trust Deed". I can't find any information on it being legal in my state, but I can in California, and Utah. I think this would be the best solution if its legal and bidding in my area. Its the only one where as far as I can tell, there are no cons. All the risk (such as the dreaded 'Due on Sale' clause) don't seem to apply in my situation (12 USC 1701j-3, Subsection D, Item 6).
I can't seem to find anyone educated on this topic, and it inevitably brought me here. (great site by the way, I can't wait to drown in its information.
In the meantime is there anyone here that will talk to me about this?