Updated over 8 years ago on . Most recent reply
Patti RobertsonPoster
Property Manager
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- Property Manager
- Virginia Beach, VA
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This is why I think Sub-To Should be Illegal
I know it's a controversial subject, but I see far too many sub-to buyers doing the wrong thing. When there isn't enough money to go around, it's always the mortgage that isn't going to affect the investor's own credit that goes unpaid. This month I did a rental screening for a sweet elderly couple who got scammed by a sub-to buyer, (who is also a licensed agent, btw) and had no idea they had even sold the home until now, 9 years later, they are going into foreclosure again. I wrote a bog about it if you'd like to read it.
https://www.biggerpockets.com/blogs/9232/65349-why-i-feel-subject-to-loans-should-be-illegal-in-all-states
- Patti Robertson
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