Buying A Home On Contract May 2026

But in the shadows of the contract, the risks were breathing. The Turning Point

Arthur, usually a kindly old man, called them three times a day. Under a standard mortgage, a bank has to go through a lengthy, months-long foreclosure process if you miss payments. But under their specific contract—which had a "forfeiture clause"—if they defaulted, Arthur could technically cancel the contract, keep their down payment, keep all the monthly installments they’d paid, and keep the house. buying a home on contract

They entered into a , often called a land contract. But in the shadows of the contract, the risks were breathing