subject-to
I have a great deal working right now. Everybody wins. Seller needs out willing to do the deal subject to. They have a question as to getting new financing. Maybe the answer is abvious and I am missing it. They want to know how they go about getting new owner financing for there new home if their name is still on the existing loan.
successin03,
Glad to meet you.
This is a pretty simple one, contact a Mortgage Broker in your area, if he/she is any good they have more ways of being creative than creative real estate investors do.
Have them explain it to your seller, how they can get a new loan. Lenders or Mortgage Brokers do not make money unless the get the loan done. You should always have a good broker on your team.
This should not stop you from doing the deal, get on it right now.
John $Cash$ Locke
I appreciate your help Mr.Locke. Funny thing is I just was talking to a Broker about 20 min. ago before I read your reply and I am going to call her a.s.a.p. How great is that! I will let you know how everything worked out if you like. Thanks again your knowledge is appreciated.