Selling Subject To Deal With A Wrap Around Mortgage Deed
I am not excited about having someone deeding me there house and then just deeding it to someone else.
2 Questions
1) Will selling on a wrap around mortgage which was purchased with subject 2 financing increase the probabiliity of getting the loan called due?
2) Does anyone have documentation for use when selling on a wrap around mortagage?
I have a note and deed of trust that is used in Texas. Where are you located. It may be OK in your state too. I would keep control of the payments etc once you have gotten them from the seller. Too many and too soon changes may raise a red flag.
Good LUCK and Thank You
Hope this helps some
Ted Jr
4ndy,
Glad to meet you.
What state are you going to be investing in?
This helps in making a determination on how you should sell.
Texas is a little different in what is used when you sell as Ted explained.
John $Cash$ Locke
John,
Glad to meet you as well. I live in OH. Any sugestions at how to best do this?
Andy
Mr Locke...
I'm in Texas..... does this mean subject to deals have to be extremeley careful for it not to raise too many red flags and get the loan called in>???
thanks,
carlos