'Due on Sale' by J D Bronchick - Posted by Jay-dee Bredenkamp


#1

Posted by Bronchick on October 28, 1998 at 10:06:17:

Correct on both. Then again, the same thing can happen whether if originated the loan, did a lease/option or any other transaction in which you picked a bad buyer, tenant, property or market.


#2

‘Due on Sale’ by J D Bronchick - Posted by Jay-dee Bredenkamp

Posted by Jay-dee Bredenkamp on October 26, 1998 at 20:26:04:

Firstly , thanks for the response to my earlier question . Regarding the same situation in a trust and a contract for deed is signed .
If in the unfortunate situation the mortgage holder on the underlying loan called the loan due and I was unable to refinance would the people who signed the contract for deed have a legitimate right to sue me ?( since they would lose their home ) And would the original seller’s credit not get wrecked in the process , since the seller would still be liable for the debt ? ( and again have a right to sue me )
Thanking you once again for the help !