Love hate with CFD’s

[Chris Seveney]

Contract for deeds can be a love hate relationship. I have a performing contract for deed that I am putting the borrower in default.

Yes that is correct —> you are probably wondering how and why?

Well for the past year we have been getting violations from the city for the borrower not cutting the grass and other violations.

Per terms of agreement they are in default and we are calling the loan due.

For those why buy cfd’s just remember they are other types of defaults besides non payment.

Will let you all know how it turns out

[Jamie Bateman]

We eventually had to send a notice of default on this performing CFD since the contract buyer would not respond to our servicer or even the police knocking on their front door (occupants could be seen inside). They pay like clockwork but the police are pressuring us about this mess since we are on the deed. Fun times!