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Final Notice of Default for Past Due Payments in Connection with Contract for Deed New Mexico Form

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Final Notice of Default for Past Due Payments in Connection with Contract for Deed New Mexico Form

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so you buy a property subject to the existing debt and you miss a payment what happens well keep in mind we want to do our very best to make sure we make our payments no matter what the situation is because we are affecting the seller's credit one way or the other is it a major issue if we miss one payment no now if you miss a lot of payments could it be an issue it could be is it fraud probably not but can you get foreclosed on absolutely could you get sued for those back payments maybe depends on how your transaction was set up and drafted before you enter into that substitute transaction make sure you've got everything handled that you know you can make your payments going forward even if your property is not income producing if you have to rely upon your property being income producing in order to make the monthly payment maybe it's best either being an a joint venture partner who can help carry that debt load for you or don't do the deal at all

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