Re: What is a CFD? - Posted by John Burley
Posted by John Burley on February 05, 2001 at 23:06:40:
A CFD is a Contract for Deed.
For clarification a “Wrap” is not a document or a form of agreement. A “Wrap” is a concept. The idea is that you take control of a loan (either new or existing) and then remarket the property (CFD, Agreement for Sale, Land Contract, Lease Purchase, AITD, etc.) for a monthly spread (the difference between your payment and the new occupants payment).
The due-on-sale-clause (as I believe you are referring to, enters into the lenders ability to “Call” a loan bsed on how the loans control was transferred. This can vary tremendously, however if you will respond with specific details, I will answer.