If It Walks Like A Duck and Quacks Like A Duck: It's A Mortgage
In the mind of a real estate investor there are a million and one ways to structure a deal and get it to closing. I really and truly believe that statement. However, there are times when a real estate investor can be too smart for his or her own good. I’m talking about “creative financing”. GASP! When the term creative financing is thrown around it’s usually in the company of other terms like contracts for deeds, installment contracts, lease options, agreements for deeds, etc. Almost always, these terms are being considered because the person extending the credit doesn’t want to deal with the hassle and expense of foreclosure in the event of default. Rightfully so, but there are times when you just have to bite the bullet, roll with the punches, take your punishment like a man… you know what I mean. I’m going to make this really easy and really clear. You cannot avoid foreclosure in Florida. That’s it. I don’t care what fancy name you give it or what secret document you “ho