Due On Sale Clause?
I am new to real estate investing and am looking into doing forclosures on a subject to contract. However, I am wanting to know how ethical or legal it is to take over a deed when the "due on sale clause" is on the mortgage. Isn't this breaking part of the contract the seller has with the mortgage company? Irregaurdless of rather the bank calls it due or not...is it illegal or unethical...because I would be helping to break a legal document.
John locke wrote a great book
"subject to thats what I do".....great reading...
In a word ..... no
Teg,
Glad to meet you.
Take some time to read this link:
http://www.legalwiz.com/dueonsale.htm
This article was wrtiten by William Bronchick Esq., an attorney and investor.
John $Cash$ Locke
Thanks for your input...I'll see if I can check out the book....and the website was helpful. Thanks again!