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Bond for Deed Myth of the Day

Bond for Deed Myth of the Day

August 23, 2016 Bond for Deed Information

Sellers often assume that an individual acquiring a property under a BFD must have bad credit. This may be the case in some instances, however, we see individuals daily with good credit that cannot qualify for a conventional mortgage loan. Among the … Read More »

Bond for Deed Myth of the Day

Bond for Deed Myth of the Day

July 25, 2016 Bond for Deed Information

Bond for Deed Myth of the Day -  We regularly hear, “If there is a mortgage on the property you need the mortgage holder’s approval to do a BFD”.  This often arises from a misreading of the original BFD statute that say… Read More »

When to use a Bond for Deed

When to use a Bond for Deed

June 14, 2013 Bond for Deed Information

Mortgage Not Assumable—Use a Bond for Deed whenever the existing mortgage is not assumable. Anyone can make the payments of an existing mortgage and court decisions have clearly established that permission of the mortgage company is not require… Read More »

What is a Bond for Deed?

What is a Bond for Deed?

June 14, 2013 Bond for Deed Information

Simply put a Bond For Deed is a form of Seller Financing. It is a contract to sell Real Estate in which the purchase price is paid in installments and title is transferred after the payments are made in full. In other states, Bond for Deed is usually… Read More »