@Account Closed Nice to meet you, Mike. How do you like it and how do you find it?
I started off as a loan officer and for some people it made more sense for them, for me to pay cash for what little equity they had and do a Sub To on the rest than for them to refinance. It saved them from a higher interest rate (If I remember correctly "good" rates were 8% and bad rates were 14% with an ARM) and all of the loan fees and commissions. I'd explain to people what it meant to go to a higher interest rate and an ARM. That was enough for most people once they understood how it would affect their life. They wanted out.
Made my first mil doing those. I had read a book called "No Money Down" and since I knew the "inside" on the lending I understood about escrow, title; reports, DOS, what lenders would and wouldn't do and so on.