Due on sale....is anyone seeing this
Question....with rates where they are...and where they are headed for that matter...anyone doing a sub to deal...is anyone experiencing a lender exercising the due on sale clause...I mention rates because, why would a lender not call a note that is 3.75 to recoup their money so it could be lent at the higher rate...with the spare time lenders now have to do more audits...has anyone experienced this...I get that lenders are in the business to collect payment and not own property...but if they could recover money lent at a lower rate to lend at a higher rate...why would they not...educate me....please
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@Ryan Taylor
As long as loan is performing the answer is no. A lenders servicer is usually a different company or department and as long as payments come in, they most likely never even know
- Chris Seveney
