Posted by Rick Harmon on May 14, 2006 at 18:54:45:
No, you probably did not trigger the due-on-sale clause. WaMu wants their money. It’s not in their best interest to be too aggressive in tracking non-authorized property transfers (or at least not yet, pending a substantial increase in interest rates).
To be certain, overpay the monthly installments by an extra safety margin, by cashier’s check referencing the original trustor and their loan number.
And, so what if they do call your loan? They’ll send out a letter beginning: “…it’s come to our attention that…” They’ll give you a little time to either pay it off via sale or refi. It happened to me in 1986. I refinanced with their prior bank name, American Savings. Got a great deal and a better rate than the mortgage broker who first tried to do the refi. Everything worked out fine. Also, there’s no jail for people who buy subject-to, and the lender can’t eat you like wolves do, so, what’s there to worry about?