All Forum Posts by: Ellis Moye

I appreciate the insight Evan and Nicholas. I had similar thoughts as to why they would want to take over payments on a brand new mortgage at a high rate. I always assumed those terms only made sense on a deal that was at a low rate and had been owned a while. Evan your point about wholesaling is a good one too, I have to admit the red flags did go off for me a bit but I figured it'd be worth seeing what others had to say. I think my first step is just to hit them back with a long list of questions trying to figure out why they are even interested and how it would make sense for them. I imagine the more I question their motive the more holes will be poked in the scenario.

Hey Everyone, I wanted to see if anybody had insight on my current situation. I have a completed flip that has been slow to sell and recently another investor approached me looking to buy the property sub-to. I explained that at the moment this would not be possible because the property is in a hard money loan. The interested buyer said they would be happy to wait for me to refinance and then assume the long term debt. I am open to this arrangement however I want to make sure I refinance with a lender who is ok with the mortgage being assumed. I would hate to put myself in a position to get the note called or be found in default etc. I am curious if anybody can recommend a lender who would allow me to go through with the subject-to deal right after the refinance. Any insight on the situation or any lender/broker recommendations would be appreciated. Thank you!