Foreclosure on Contract for Deed
When my parents moved to Minnesota they had really bad credit and they only way they could afford a home was contract for deed. We’ve lived in the house for three years and the man that owns it was foreclosed on. (Mike Parish of Parish Marketing. Getting to be rather infamous.) Well Mike won’t release them from the contract, and without a cancellation on record they can’t buy the home they want. Their credit is good now but it’s too much debt with this contract for deed on record. How do we force a contract cancellation? He is outright refusing to comply.
Re: Foreclosure on Contract for Deed
I do not have enough information to advise you on this matter. However, it appears that you may be able to force a cancellation of the contract for deed through statutory cancellation based on the seller’s inability to perform on the original contract for deed following foreclosure of his interest in the property.
If you wish to proceed, please contact me regarding the additional information I need to proceed and the cost of the recommended course of action.
Chad Johnson
Hellmuth & Johnson, PLLC
10400 Viking Drive, Suite 500
Eden Prairie, MN 55344