Late charges on a contract for deed?

**Terese** · 05-03-2011, 12:50 PM

Last April, we signed a contract for deed with the tenant of our home, with us carrying the loan for 2 years while the tenant secured enough credit to buy the house.

She's fallen behind, severely.

The contract doesn't specifically address any late fees, so are we not allowed to assess any? We live in Missouri.

**Greg** · 05-07-2011, 07:27 AM

She can't make the payments and you want to collect late fees?

What you need to be asking about is how to get her out of your house so you can get a renter in there who can pay.

**Terese** · 05-07-2011, 03:05 PM

Originally Posted by Greg

She can't make the payments and you want to collect late fees?

What you need to be asking about is how to get her out of your house so you can get a renter in there who can pay.

I should have clarified....I am in the process of outlining the total amount due that must be paid in the default notice, and I don't want to miss anything because I truly don't want her to scrape it together. It will just mean I have to do this again in 3 months.

**EugeneRealEstate** · 05-09-2011, 10:18 PM

If they are more than 90 Day behind then you can start foreclosure proceedings. If they want to stop the foreclosure then you will have to give them a number to catch them up. You can add in your late fees and any other cost at that time. Check with a Real Estate Attorney in your area.