Subject To: Successfully resolved the process of a bank calling a loan due?

[Luke Rentz]

Hey guys,

I was just wondering if has gone through the process of a bank calling a loan due on a subject to closing? I would be really interested to hear how it went, how much time you had to correct or what actions they offered, and how it resolved?

Also, does anyone have a breakdown of disclosures they provide to the seller when purchasing a property this way? i have been making my own list, but would love someone else's to cross reference or even use with their permission. I know it's somewhat unlikely, but I just want to make sure I am dotting my i's and crossing my t's.

Thanks,

[Jay Hinrichs]

Quote from @Luke Rentz:

Thanks again Mike! Really appreciate your insight -! Good to know there are other options! I looked at your website and will consider reaching out on a specific deal :) Yea there's definitely alot of danger in these types of deals, hopefully the inexperienced don't ruin them for everyone!

 bottom line is plan for the worse hope for the best.  If the bank call the loan generally speaking your not going to negotiate any type of continuance of the loan. 

so you have your 4 choices.

1. sell pay off loan

2. write a check  ( its how we handled the 200 plus sub toos we did)

3. refi 

4. deed back to seller