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Updated almost 16 years ago on . Most recent reply

Anthony Sulecki's profile image
Anthony Sulecki's profile image
Anthony Sulecki
  • Real Estate Investor
  • from Millsboro, Delaware
  • Member since Jan 5, 2008

User Stats

480
Posts
26
Votes
Anthony Sulecki's profile image
Anthony Sulecki's profile image
Anthony Sulecki
  • Real Estate Investor
  • from Millsboro, Delaware
  • Member since Jan 5, 2008
Anthony Sulecki
  • Real Estate Investor
  • Millsboro, DE
26
Votes |
480
Posts
Starting Out

Sub2 Question

Anthony Sulecki
  • Real Estate Investor
  • Millsboro, DE
Posted

Is one supposed to disclose to the lender the fact that they are taking over the mortgage on a property? I think it would only be right, being they dont want the real estate, and you dont want to be accused of fraud by covering it up. I keep hearing that the DOSC is a "law" in some states, but Im not sure if I believe it 100%.

Does anyone here deal in sub2's? Do you contact the lender and tell them what is going on with the mortgage change? If so, has it ever triggered the DOSC? Does one need a good standing with that particular lender to aviod the trigger?

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