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Updated 4 days ago on . Most recent reply
Subject To question
Question regarding subject to. If I were to purchase a property using Subject To, how would I go about making the mortgage payments on the property without the lender finding out that that the property has been sold Subject To? Do I make payments to the previous owner and then they continue to make their mortgage payments? Or do I need to login to the previous owner's lender account and make the mortgage payments online? It seems like as soon as i start making the mortgage payments on behalf of the previous owner, then the lender would immediately find out and the implement the due on sale clause immediately. Looking for some insight here. THanks!
Most Popular Reply
Don Konipol
#1 Tax Liens & Mortgage Notes Contributor
Lender
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#1 Tax Liens & Mortgage Notes Contributor
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- The Woodlands, TX
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Don Konipol
#1 Tax Liens & Mortgage Notes Contributor
Lender
Pro Member
#1 Tax Liens & Mortgage Notes Contributor
- Lender
- The Woodlands, TX
I’ve seen numerous methods to “work around” due on sale. Most of the traditional methods are suspect now because technology has enabled lenders to uncover property transfers effortlessly and cheaply.
So here’s what I have done - I just make the payments directly, change insurance into my name, and “let the chips fall where they may”. I ASSUME that the mortgage lender just want to get paid and won’t actually care where the money comes from. For when I’m wrong I’m willing to pay off the note and or refinance.
So here’s what I have done - I just make the payments directly, change insurance into my name, and “let the chips fall where they may”. I ASSUME that the mortgage lender just want to get paid and won’t actually care where the money comes from. For when I’m wrong I’m willing to pay off the note and or refinance.
- Don Konipol
Private Mortgage Financing Partners, LLC