Posted by Steve on March 21, 2001 at 22:16:20:
Goto the archives and type in: Subject To
This is where the investor agrees to take over the payments for the seller. You take their little payment coupon book, and pay it as if it were your own mortgage.
Are there really that man yassumable mortgages ? - Posted by Chad
Posted by Chad on March 21, 2001 at 14:53:09:
In Carletnon’s course almost all of his no money, no credit examples have to do with assumable mortgages and having the seller do the financing on the equity. I have just started looking, but it seems that they are very rare. He says that every mortgage written beyond a certatin date in 1986 I think in non-assumable. So what is a guy like me with no money or credit who is just starting out to do without resorting to partnerships. Are there really that many assumable mortgages out there or is there a way aroung this problem without the dreaded bank?