Structuring Subject-to on a preforeclosure

[Account Closed]

Hi Everyone,

Has anyone structured a subject-to deal while the seller is in pre-foreclosure? I was thinking about coming up with the missing payments, fix the house and sell it or just keep it as a rental.

Will the lender require the entire balance to be paid off since the seller is behind?

[Mitch Messer]

@Account Closed Generally, the lender just wants the account fully caught up (called reinstatement) rather than requiring you paying off the entire balance. If foreclosure in your state involves an attorney, you might need to request the exact reinstatement figure from them, otherwise the lender should be able to provide you with the amount.

Just be sure to perform all your normal subject-to due-diligence and pre-closing prep before you commit your funds.