Posted by Michael Morrongiello on February 08, 2001 at 16:40:01:
This type of collateral that serves for repayment of the contract for deed would be considered an “improved land lot” type collateral.
Generally there would be a limitation on the amount of funding exposure limited to somewhere in the 60% -65% +/- of sales price or value range. So that (CFD) Contract for deed probably could be sold either on a FULL BUY basis or as a PARTIAL with you holding on to a very small “residual” or remainderman interest in the CFD.
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To Your success,