Posted by Stacy (AZ) on January 26, 2000 at 17:19:31:
I learned about Performance Mortgages (or more specifically for my state, Perfomance Deeds of Trust) from posts here on this board, and in Bill Bronchick’s materials.
However, the title company I deal with knew what to do, and even drafted the whole thing on state approved forms. Perf Mtgs aren’t really special. They are basically a Mtg or Deed of Trust that secures an agreement instead of a promissory note. You could call your title company and ask if they could handle it for you. As always, state laws vary, and a good attorney would also be helpful on your first one.