Houses contract for deed Sanford
Because of recent credit tightening, some homebuyers may be less likely to qualify for mortgages than they were just a few years ago. Some financial counselors predict that borrowers with limited options may turn to alternative means of purchasing a home. One such alternative is the contract for deed. In a contract for deed, the purchase of property is financed by the seller rather than a third-party lender such as a commercial bank or credit union.
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Indeed, public and nonprofit housing advocacy organizations have used the contract for deed as a tool to help low- and moderate-income.
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