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 followBeginner framing because I got this one wrong in my head for weeks before I understood it. I kept treating sub-to as a way to buy cheap. It's a way to buy a payment. The house I c…
Took over a 1958 ranch at $214k balance, 3.5%, 24 years left, PITI $1,498. Seller wanted $8k and out. House was rough, not unlivable. My plan was standard for me: put $45k in, ren…
Short version for anyone about to do their first one. Sub-to means the loan stays in the seller's name and I take over the payments. On my first one I set it up the lazy way: I se…
I hold land and I am slow about everything, so selling a house eleven weeks after buying it is out of character. The arithmetic was better than holding. Acquisition. 1,340 square…
Three years in on a sub-to and it's worked, so here's what it actually took rather than the version where you inherit a rate and go to sleep. Acquisition: 1990s four bed in an inn…
Payment went from $1,412 to $1,741 in month ten and nothing about the loan changed. I was keeping the file on a sub-to for an investor I do coordination work for, so this one is o…
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…
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…
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…
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…