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Updated almost 9 years ago on . Most recent reply

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John Chin
  • Real Estate Investor
  • Orlando, FL
21
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50
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Due-On-Sale clause of Subject-To deals???

John Chin
  • Real Estate Investor
  • Orlando, FL
Posted

How are you minimizing the risk of the lender calling the loan on your Subject-To deals? Please share :)  Thanks!

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,131
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

To help minimize a sub2 being noticed by the lender:

I pay the mortgage directly from my mgt corp (I have for my personal portfolio).  Not noticed as much as a new person starting to make the payments.     

I don't change the existing hazard insurance, just have myself added as additionally insured.  Mortgage co's are most notified by insurance changes in my experience.

Have a back-up plan in case the note is called.  Have reserves and the ability to finance if needed.  Do not miss a seller's payment for any reason ever @John Chin!

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