If YOU are one of these homeowners, then DON'T DESPAIR.  You, as
a homeowner, can eliminate those unmanageable debts by using a

The sale of YOUR house, using a land contract, can be achieved quite
effectively when "subject to" financing is used.  In addition, no law has
been enacted stating that you can not buy property subject to the exist-
ing financing.  As well, it is NOT a criminal act in the eyes of the law.

The due on sale clause is an important element that needs addressed.
For example, almost all home mortgages that have been created in the
last twenty or so years contain a "due on sale" clause.  This means that
if the mortgaged property is sold, then the mortgage contract requires
that the existing loan must be paid in full at the time of the sale.

Rest assured, for in practice lenders very seldom enforce the due on sale
clause.  The main purpose of this clause was to protect lenders if interest
rates dramatically increased.  During periods when interest rates are
stable, it is rare that a lender would call a loan due when the property is
sold.

A Land Contract also is known as:
A Contract for Sale
A Contract for Deed
An Installment Contract
A Conditional Sales Contract
An Agreement of Sale
An Installment Land Contract

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A land contract is a binding agreement between a homeowner and
a prospective buyer.  

Under a Land Contact, a property is sold much like a conven-
        tional sale.  
The seller finances the sale and holds the deed until the buyer
        has fully paid for the property.
By holding the deed, the seller has more control than he or she
       would have with a conventional sale.
An ideal situation to sell YOUR problem property (one that has sat
       on the market for a while) or sell to a buyer with bad credit and a
       poor financial history.
Provides a quick and inexpensive way to sell a property WITHOUT
       the rigid guidelines, hassles, expenses, and delays associated with
       conventional financing.
Provides the seller with monthly income and a better than average
       rate of interest.
Provides the buyer with a property that he or she could not otherwise
       obtain.
Land Contracts can be a sensible way to sell property and are valid in
       ALL states.

Doug Iles
The Beneficial Broker
c/o Beneficial Brokers, LLC
http://www.creativehomesellerstrategies.com
http://www.creativehomesellerstrategies.com/HomeSellerindex.html
http://www.creativehomesellerstrategies.com/Commercialindex.html
http://www.creativehomesellerstrategies.com/HighestBidderSale.html#T
http://www.creativehomesellerstrategies.com/ResidentialIndex.html
26 Gibson Avenue
Mansfield, OH  44907-1316
Business email:  askyourquestion@creativehomesellerstrategies.com
Home email:  diles1@neo.rr.com
Other email:  douglas.iles@huntington.com
TOLL-FREE business phone:  1-877-972-3847 or 1-877-97ADVISE 
Choose Option 1 to leave a message for Doug Iles
Choose Option 2 to request a 24 x 7 fax-on-demand company brochure
Choose Option 3 to request a 24 x 7 fax-on-demand owner financing brochure
Choose Option 4 to request a 24 x 7 fax-on-demand partial purchase brochure
Choose Option 5 to request a 24 x 7 fax-on-demand simultaneous close brochure
Choose Option 100 to listen to a foreclosure hotline recording
Choose Option 200 to learn about the Instant Equity Exchange program
TOLL-FREE business fax:  1-877-972-3847 
Home phone @ 419-775-5349
Cell phone @ 419-545-4446

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