Posted by Lyal on October 03, 2003 at 06:55:30:
I don’t think you understand how a CFD or an amortizing loan works.
When you sell on a Contract, you become the bank. The buyer’s payment is interest (compound) and principal. In the begining the amount of principal reduction is VERY small probably less than the 100 dollar rent credit.
Yes you can get a larger down payment.
One of the biggest reasons for using a L/O instead of CFD is the time it takes to get someone out if they don’t pay. Simple eviction vs: foreclosure. You need to check the process in your area to see if this applies.
Best place to get help with a CFD is a title company or attorney. They do this every day and can save you headaches down the road trying to correct your mistakes.
All the best, Lyal