Posted by Lance on September 03, 2003 at 09:56:29:
CS,
What is a HUD 1 statement and what would it provide in this situation?
Thanks so much!
Lance~
Buying “Subject To” Financing - Posted by Lance Manyon
Posted by Lance Manyon on September 02, 2003 at 21:09:11:
I have recently purchased a house ?subject to? the original financing. I have taken title and the sellers original loan is still in place. The sellers have moved to Minneapolis Minnesota and want to buy a house. The loan is appearing on their credit. They have been told by numerous loan brokers that there is no form stating I?m making the payments that will appease lenders so they can buy another house. Is there a lender out there that will make such a loan? Is the interest on such a loan so high the loan won?t make sense? Is there a form one can supply these people that would indeed show I?m making payments and make the lenders underwriting happy?
Re: Buying “Subject To” Financing - Posted by Lance Manyon
Posted by Lance Manyon on September 03, 2003 at 09:43:14:
Tony,
Yes, please send me the lender info and I will pass it on to my people. Please send to my email address
bigcactus@hotmail.com
Thanks so much!
Re: Buying “Subject To” Financing - Posted by Joe C. (AR)
Posted by Joe C. (AR) on September 03, 2003 at 24:09:43:
My son is a mortgage banker. He says he can take a “contract for deed” or “land contract” as proof when he does a morgage for someone in this situation.
Joe C. (AR)
Hud 1 - Posted by Chris S.
Posted by Chris S. on September 02, 2003 at 22:50:07:
Fill out a Hud 1 statement.
E-mail me if you need one. I downloaded it from Bronchick’s website by the way.
CS
Re: Buying “Subject To” Financing - Posted by tony
Posted by tony on September 02, 2003 at 21:20:23:
You can show the lender the cancelled checks that you are making the payment along with a copy of the deed.
forward your contact info to the above and i’ll hook you up with a lender who will do the loan!