Posted on: 08th Oct, 2008 03:04 pm
IF the seller still owes a balance to the Mortgage Co, for the house in question. Will the Mortgage company allow a Contract Deed. If so, who would receive or get the Down Payment ???
Hi Bruce!
Welcome to Forums!
No mortgage company will easily allow the a contract deed when there is a mortgage on the house. The lenders can take severe actions if you go into a contract deed without informing them.
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
No mortgage company will easily allow the a contract deed when there is a mortgage on the house. The lenders can take severe actions if you go into a contract deed without informing them.
Feel free to ask if you have further queries.
Sussane