All Forum Posts by: Edward Adams
Edward Adams has started 1 posts and replied 2 times.
Post: HOMEOWNER SOLD "SUBJECT TO THE EXISTING LOAN" AND WANT TO GET A NEW HOME LOAN, WHAT DOCUMENTS CAN I PROVIDE THE SELLER TO INCREASE THEIR CHANCES OF QUALIFYING
- Stafford, VA
- Posts 2
- Votes 0
Jon,
Great response and very helpful. We were completely transparent before during and after the purchase of the property. The seller understood the possible risk involved in selling their property subject to the existing loan.
Again thank you for your response.
Warm Regards,
Edward Adams
Post: HOMEOWNER SOLD "SUBJECT TO THE EXISTING LOAN" AND WANT TO GET A NEW HOME LOAN, WHAT DOCUMENTS CAN I PROVIDE THE SELLER TO INCREASE THEIR CHANCES OF QUALIFYING
- Stafford, VA
- Posts 2
- Votes 0
I HAVE A HOMEOWNER WHO IS ATTEMPTING TO GET QUALIFIED FOR A NEW MORTGAGE. WE BOUGHT THEIR PROPERTY SUBJECT TO THE EXISTING LOAN 18 MONTHS AGO.
WHAT DOCUMENTATION CAN I PROVIDE TO THE RESPONSIBLE HOMEOWNER IN ORDER FOR THEM TO INCREASE THEIR CHANCES OF GETTING QUALIFIED FOR A SECOND LOAN?
WILL A LEASE SUFFICE? IS THERE ANY STANDARD DOCUMENTATION THAT MYSELF OR MY CLOSING ATTORNEY CAN PROVIDE TO THE HOMEOWNER THAT WILL ALLOW THEM TO QUALIFY FOR A NEW HOME LOAN WHILE THEIR OTHER LOAN IS STILL IN PLACE?