Subject to Mortgages

[Dale W.]

Hello Everyone, this is my first post... I'm currently trying to find a way to get leads for home owners who would benefit from doing subject to deals. I'm in Pembroke Pines, Florida(Broward County) and if anyone can lead me in the right direction, it would greatly be appreciated.

[Wayne Brooks]

@Dale W. You may have good intentions in thinking of a sub2 as a last resort, but as @Jay Hinrichs mentioned, there are substantial risk associated with this, for the Seller.  Also, typically when the house is upside down, a sub2 would make no sense for a buyer, since they are "taking over" a loan which is more than the house is worth, in addition to coming with likely $10-20k cash to bring the loan current.  If a short doesn't work for whatever reason, they're likely looking at a bankruptcy as the "least worst" option, particularly if the Feds don't extend the taxable income forgiveness on primaries.