Foreclosing On A CFD Buyer In CA
Has anyone here had the experience (or know someone who has) of having to foreclose on a Contract for Deed/Land Contract buyer who did not make their monthly payments? My RE Attorney pointed out that in CA, even after you go through the delightful process of foreclosure and eviction, the buyer has a one year right of redemption during which they can pay off the money owed and get back into the property. Point being is that during this period, your title is clouded and you cannot resell.
If any of my information is deemed suspect or y'all have any experience with this kind of quagmire, I'd appreciate the feedback.
(C'mon Lufos, I know you have something to say on this!)
Mark
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