When a seller finances with a contract for deed, how can a buyer be protected in the event the seller does not make the underlying mortgage payment, resulting in a foreclosure? I understand that the deed could be held in escrow, but this does not guaranteed that the seller will make the mortgage payment. I live in MN in case it matters. Thank you.
Pay the mortgage company directly.
Thanks, Tim. That's great advice. Both the taxes and morgage can be paid by buyer and the title could be held in escrow. Thanks, again.