Updated about 12 years ago on . Most recent reply
contract for deed as a second mortgage?
Has anyone ever done a contract for deed as the second mortgage. I didn't think this is possible. I have someone who would like to borrow 5k to fund a light rehab on a house (tenant trashed the place upon eviction, needs light cosmetic rehab). He has a mortgage of 38k on a house worth 75k. What would be the best way to secure this funding in case he would default on our loan?