I have New Mexico Seller Finance Land Contract "interest only 2 year balloon". It says that it is due and payable in 2 years from the effective date, then it says that if not paid sooner pursuant to the terms of this contract, the entire balance due seller shall be due and payable 30 years from...
I have a contract for deed that I signed on 3/14/05. It is a 2 year balloon note for mobile home/land in the state of NM. My mortgage broker states that it is really a 30 year note for the following reason:
Then it what the contract says: Payable as follows: Balance due Seller shall be paid by...