Assignment of Mortgage Payments (AMPS)

[Lynn Henley]

There's alot of emails flying around about a buying strategy of taking a property that's upside down and the owner may not be behind on payments but needs to sell. You tie up the property, then assign the payments to a buyer with fair credit but can afford the payments. The buyer pays you (the investor) a assignment fee for your profit.

It looks like a basic Subject-2 deal with a property that has no equity.

Is anyone using this strategy with success?

What are some of the problems of doing this type of transaction?

Do you really need to purchase a $997 course to do this?

Thanks,

Lynn (FL)