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Final Notice of Forfeiture and Request to Vacate Property under Contract for Deed New Mexico Form

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Final Notice of Forfeiture and Request to Vacate Property under Contract for Deed New Mexico Form

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hey all Cal Ewing here and we're going to talk about land contracts in this video um particularly what to do if a borrower stops paying when you own a land contract or a contract for deed okay so contract for deed and land contract they're used interchangeably at least in this video so they mean the same thing but basically what a contract for deed is it's very similar to a mortgage note except that when someone is trying to buy a piece of property they don't get titled ownership in a contract for deed until they've paid back the entire balance to the seller or whoever owns the land contract okay so let's say I buy a land contract from another investor now that borrower owes me the balance of the land contract just like a mortgage okay but in this case I own the property still they get to use it and live in the property and they are paying monthly payments to me with interest until they've paid off the entire balance of the the la

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