Contract for Deed Refinance

[Ron Steele]

I have a property I acquired on contract for deed. I'm paying a 13k monthly payment with a contract sales price of 1.5 million.  The occupancy was around 65% or so and I have gotten to 90%. Once stabilized the property should appraise for 2 million or so.  My understanding with the contract for deed I have an equitable title in that I can treat this as a refinance.  

My strategy is to refinance and the property with my local bank then get the HUD financing. I've spoken to HUD lender and they are doing anything in the 1-3 million space.

Anyone has any experience with this type of deal.

Thanks

[Wayne Brooks]

You won't get a "refinance" loan, unless you can give them a mortgage, which means you have to be the "owner", which means title has to be in Your name.