All Forum Posts by: Mitrah Rasti

Kevin, thanks for weighing in on my issue!  The loan is currently in both of our names, and it seems TX may be a bit more stringent with exercising the due on sale clause than other states.  From conversations with my loan officer, he's concerned that I couldn't rely on your suggestion of simply transferring full responsibility of the loan over to me without triggering the due on sale.  This was the first thing I considered, as it would be the path of least resistance.  But I don't know enough about TX real estate law to determine an alternative that would not require either the due on sale or refi, and I do NOT want to lose this ridiculously low rate.

I am in a situation with a co-owner of a residential property just outside of Houston whereby my co-owner has decided she wants out of the arrangement.  We purchased the home over 3 years ago with the intention of starting a family, but my partner changed her mind.  Unfortunately, we bought the home when the rates were at all time lows, so selling or refinancing are not at all ideal at this time (I have been living in the home, she never ended up moving in, I'd prefer to stay with or without her at this point).  I was hoping I could have her sign a quitclaim deed to release her title claim, and then I'd just assume full financial responsibility from that point.  But TX law is different than what I am accustomed to, so it seems that filing that quitclaim would trigger the due on sale clause of our loan, which I do NOT want.  I am trying to come up with a slew of options to present to my ex-partner that will enable me to keep the home while relieving her of her responsibility and ownership claim, that does not disturb the financial instrument until such time that we deem economic factors make a refi more appealing.  I don't know enough about TX real estate law to be able to fully evaluate the potential moves here.  I prefer to go on referral basis, but none of the attys my loan officer or real estate agent suggested returned my calls.  The good thing is that my co-owner and I are on decent terms, and both want to devise a fair solution in this separation.  Any attys here familiar with TX law that may have some suggestions, please shoot me a DM, it would be MUCH appreciated!

Appreciate the info, Chris!  I'll PM you :-)

Looking for a realtor/property manager with handyman skills (contractor would be ideal) in Detroit who is familiar with property located in the area code 48228. I am an out-of-state owner of a single-family house who needs a good pair of eyes and a set of skilled hands. Must have a real estate license as well as references.  Thanks!

Thanks for the welcomes and for all of the additional tips, everyone!  Already started on the UBG and will add some key words and delve into all of the resources you've suggested above :-)

Hi everyone!  My mom and I are ex-realtors and newbie investors in the San Gabriel Valley of SoCal.  Though I've been hearing that wholesalers are like the bottom-feeders of the investing world, we've gotta start somewhere to build up some cash reserves and get our feet wet so no shame in our game ;-)  There's so much information out there that it's a bit overwhelming but we're trying not to get analysis paralysis and just do a little something everyday to get our business going while maintaining full-time jobs for as long as we still have to.  Super excited to meet fellow investors and to learn from your experiences and hopefully contribute something of our own to the network as well!