Sub2 bank note called

[Jared Emerick]

Hi,

Just interested to hear experiences of buying sub2 when either 1.) the bank called the note due and what was your exit, did you get out of the note being called? Or 2.) when you were buying sub2 you actually did notify the bank of the change (as the DOS clause usually asks for the notification of change) and what was the result doing that?

Thank you in advance for the sharing your experiences.

Jared

[Chris Bounds]

I've purchased several properties Sub-2 and never had the threat of the DOS. As long as you make timely payments and have proper insurance on record with the bank it's highly unlikely they will exercise DOS - IMO (not legal advice).