Updated about 9 years ago on . Most recent reply
Due-On-Sale clause of Subject-To deals???
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
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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!