Contract for Deed (CD) – Preparing for a Real Mortgage

I’m going to explore with you some ideas on how to structure a contract for deed when buying a home so that when it comes times to ditch the CFD and refinance into a regular mortgage you can choose your path.  First thing you should consider is an attorney to assist in writing up the CFD.  For those of you that don’t believe “if there is a will — there is an attorney”, then try this for some tips on protecting yourself when writing up the CFD. Most people that are buying using a CFD have either have damaged credit …

What Does SB931 Mean to Your Seller? . . . It Means That They’re a FHA Buyer!

California has taken, barring the stupidest veto ever, a clever step towards opening doors for homeownership. A primary intention of this bill no doubt was to flush the market of negative equity and aid struggling homeowners. It has an added benefit of streamlining continued homeownership for those who will do a short sale after January 1, 2011 by making a difficult FHA loan approval that much easier to get done. Buying a home after a short sale has been possible through FHA for some time now. While many investors are willing to purchase and securitize these loans, few have been …