Final Pymt on Sub2

[Al Mcbee]

What happens after the final payment is made while doing a Sub2 deal?

Is the person I received the Sub2 from involved at all?

[Andy Mirza]

I haven't held onto a sub2 deal long enough to find out...yet. I would hope that they'd record a reconveyance and that would be it. I've had issues with a couple of my rental properties with old loans that were never reconveyed. Back in the '80s, lenders would send the reconveyance to the borrower once they paid the loan off. It was up to the borrower to record the document and in some cases like mine, they never did. I hope it's different now and the lender records it for you.