Best Real Estate Investor Loan Assumption Technique.
I'm an investor and in the process of using a decoy first-time-buyer to transact the purchase of a triplex, in order to qualify much easily and with low down-payment. I currently own nine properties. My question is....How do I structure the loan without tipping off my lender of my intension to assume the mortgage from my decoy buyer? Somebody help me out here......p l e a s e......
Using a Land Trust (if done correctly ) will help you to AVOID LOAN FRAUD and other legal complications that your deal may face (Give the current way you've just Expressed)!
Lenders DON NOT LIKE BEING LIED TO! THAT GOES FOR THE FEDERAL GOVT as WELL!
Your Decoy Buyer/Borrower is signing onto a Federally Insured Loan. ANy Lies, Intentional Omissions, etc. could land both them & YOU in PRISON!
Think through the set up for your purchase, have the Decoy buyer to arrange for a land trust in their own name then give you and ABI (Assignment of Beneficial Interest) with 90% and they keep 10% for Tax, and to prevent DOS (Due on Sale) caluse violations!
Your percentage and power of direction in the land trust works just as well (Even better) than the way you intend to do it currently.
If you are interested in setting up deals like these then: Contact me for more info on Equity Holding Trust (tm)!
Derrick Ali
517.414.8478
where can i get an " Assignment of Beneficial Interest" form.
What about putting into a Land Trust to start off with?? You could assume the loan and keep the buyer on the loan for five years. The problem is what buyer in their right mind would want to do a deal like this where their name is on the mortgage but not on the deed. There has got to be a better way structuring this deal.
Using a Land Trust (if done correctly ) will help you to AVOID LOAN FRAUD and other legal complications that your deal may face (Give the current way you've just Expressed)!
Lenders DON NOT LIKE BEING LIED TO! THAT GOES FOR THE FEDERAL GOVT as WELL!
Your Decoy Buyer/Borrower is signing onto a Federally Insured Loan. ANy Lies, Intentional Omissions, etc. could land both them & YOU in PRISON!
Think through the set up for your purchase, have the Decoy buyer to arrange for a land trust in their own name then give you and ABI (Assignment of Beneficial Interest) with 90% and they keep 10% for Tax, and to prevent DOS (Due on Sale) caluse violations!
Your percentage and power of direction in the land trust works just as well (Even better) than the way you intend to do it currently.
If you are interested in setting up deals like these then: Contact me for more info on Equity Holding Trust (tm)!
Derrick Ali
517.414.8478