Posted by Houserookie on January 28, 2001 at 01:02:01:
Is this the predicament you are in now?
You can avoid this problem by making the payments
for seller.
Alot of people here worry about lender finding
out payments are coming from third party.
This is really not an issue. Third party
payment services are becoming popular.
U.S. Mortgage for example will make bi-weekly
mortgage payments for millions of people.
Most banks will wire funds to the loan company
under account number.
Good luck!
Sandwich Lease Optioning - Posted by Michael
Posted by Michael on January 27, 2001 at 23:59:20:
Say I have a Lease Option with a seller and I sublet it to a tenant. I pay my monthly lease payment to the seller every month and six months down the road I find out that the owner has not made a mortgage payment in four months and the bank is foreclosing. How would I go about protecting mine and my Tenant/Buyers interest in the property? What could I leagally be held accountable for if they foreclose causing my T/B’s to lose their option to buy?
Any advice would be greatly appreciated!
Mike