Updated 5 months ago on . Most recent reply
Natalia LadzinskaPoster
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- Current: Dallas TX (remote & usually in: TX FL IL WI)
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Subject To and Mortgage Wrapper
Hi - it is my first time purchasing a property on a Subject To basis. The exit strategy is a Mortgage Wrapper. Can anyone share their expertise when it comes to the home insurance, creation of a land trust, or other general advice? Thank you!
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T. Alan Ceshker
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- 3409 Executive Center Drive Ste 110 Austin, Texas 78731
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To answer your questions:
Insurance - needs to be done correctly -- therefore you need someone who know how to get insurance in place for a wrap - reach out if you want a referral
Trust - these are useful for guarding against a due on sale issue -- same here -- needs to be done correctly by an attorney
General advise - use a loan servicing company -- check the escrow account at time of acquisition -- consider partnering with someone who knows what they are doing until you learn all
Insurance - needs to be done correctly -- therefore you need someone who know how to get insurance in place for a wrap - reach out if you want a referral
Trust - these are useful for guarding against a due on sale issue -- same here -- needs to be done correctly by an attorney
General advise - use a loan servicing company -- check the escrow account at time of acquisition -- consider partnering with someone who knows what they are doing until you learn all