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If you are thinking of investing in Contract For Deeds (aka Land Contracts), this video explains two different exits you could have to take if your borrower stops paying. In some instances you can go through a “Forfeiture” and in other situations you need to proceed with a “Foreclosure”. It’s important to understand these procedures and how they work in your state before investing in or creating a Contract For Deed.
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Негізгі бет Foreclosing on a Contract For Deed (Land Contract) & How They Differ From Mortgages
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