DTI ratio when the mortgage is serviced
Just finished listening to BP episode # 527, in which Pace Morby talks about how lenders could wipe out people’s debt-to-income ratio on their previous mortgage if it was serviced.
I'm wondering if anybody here has any experience with this strategy that they can share.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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- Real Estate Professional
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@Syed Quadri Yes, that common for the seller in a sub2. But, Why would you ever want to sell on a sub2? It leaves you with a lot of risk. At least sell it as a wrap mortgage, so you have some recourse (foreclosure) if the buyer goes south.