Sub 2 question

[Arcinio Arauz]

Hello all,

I may be doing my first sub to deal. I am on the selling end. So my question is how or what documentation would I need to protect myself in the event the buyer defaults and quits paying the note? Is there a way that can record a position or lien in the event the buyer quits paying.  I cringe at the thought of a buyer that quits paying and it's my credit affected. A few points.... I'm asking for a 90K equity payout to me, new owner will take over loan at 187K @3.3% 30 years fixed... all done through title company.