Subject-to financing means acquiring a property while leaving the seller's existing mortgage in place: the deed transfers to the buyer, but the original loan stays in the seller's name, and the buyer takes over making the payments.
Log in to followI've had two sub-to conversations in six weeks and they were nothing alike, so I want to know which type people prefer to work with. Seller A is behind. Two payments missed, a not…
A newer investor asked me to look at a sub-to he was offered, and I couldn't decide what to tell him, so I'll put it to the room. The case for doing it early: the deal doesn't nee…
I'm building out the admin side of a small service business and sub-to keeps coming up with the investors I talk to. The piece they disagree on hardest isn't the deed or the equit…
FHA loan, $265k balance at 3.25%, payment $1,870 with taxes and insurance. Seller is relocating and her loan officer is counting that full payment against her debt-to-income, so s…
This was my first attempt at anything creative and I want to write down where it fell apart while I still remember the order. Seller was an older man, loan at 3.25%, balance about…
Looking at funding an operator who holds title on three houses where the underlying loans are all in the original sellers' names. On one of them the seller told him straight out s…
I papered a sub-to for a partner in early last year and got a phone call in the fall that started with "my ex says the house is part of her bankruptcy." It wasn't, and the reason…
I'm still in the reading stage on sub-to, and the piece I can't settle is how the seller's equity gets paid. Every example I've looked at splits into two shapes. Shape one, you ha…
Before I go looking at houses I want to know what the closing itself costs, because the courses all talk about buying with no money down and then never mention the desk fees. What…
A woman down the road from my first rental is moving in with her daughter out of state. Her loan is at 3.5%, balance around $214k, payment $1,610 with taxes and insurance escrowed…
I have four of these running. Two sellers have now come back asking to be released from the mortgage because their lender is counting the payment against their DTI and it's blocki…
Closed this one in the spring and it has run seven months, so I'll write it up now while I still remember what scared me. The property. 1974 fourplex, four twos, tired but not dis…
Posting this because I looked for someone who'd actually had a loan accelerated and found mostly people saying it rarely happens. The deal: 1978 three bed, seller relocating for w…
Sorting through this from the lending side, so tell me where my math is off. Guy owes about 214k on a loan at 3.1%, house would list somewhere near 290k. He said he wants 75k for…
Closing attorney's suggestion on a house I'm working: deed into a land trust with the seller as the initial beneficiary, then she assigns the beneficial interest to me at closing.…
I set up the closing coordination side of a few creative deals for other people and now I've got four of these files where the buyer is self-servicing, meaning he logs into the se…
Wrote this up because six months ago I couldn't have explained subject-to out loud. What it means: the seller's mortgage stays in her name, the deed comes to me, and I make the pa…
Been talking to a seller about a house on a double lot (the lot is honestly the part I want). His agent told me the seller would "wrap" his loan to me, then in the next sentence c…