This Alabama Contract for Deed allows the seller to assist the buyer by carrying part or all of the purchase price. In effect, the seller becomes the mortgage lender for the balance of the purchase money.
Title will transfer to the buyer once the seller has received payment in full of the principal and interest.
The seller has the right to take back the property if the buyer defaults in payment.
At the seller's option, the balance can be repaid by monthly p.....
Alabama mortgage lenders can use this comprehensive template to prepare a mortgage to secure a loan for purchasing a property.
Uniform Covenants: mortgage payments, taxes and insurance, prior charges on the land, hazard insurance, occupancy as principal residence, care and maintenance of the property, protection of the lender's security, etc.
False Information. If the borrower gave any false or misleading information on the loan application, the borrower.....