Posted by qstaff on August 11, 2003 at 19:22:50:
You need to find a “cool” attorney in your area who knows what’s going on–it’s the sort of thing people don’t talk about except on the down low.
Subject To Financing - Need Settlement Co in MD - Posted by Cecilia Lumpkin
Posted by Cecilia Lumpkin on August 11, 2003 at 17:45:04:
Hi. I have put together a deal ‘Subject to Existing Financing’ and am having problems with Settlement companies who don’t understand the concept and feel the need to inform the mortgage company of the transaction. Does anyone have recommendations of Title companies working in Maryland who would be able to help me with such a deal? Also, is the mortgage company likely to call the loan due if they are informed of the deal?
Thanks for sharing your learning!
Subject To Financing - Need Settlement Co in MD - Posted by Joe
Posted by Joe on August 12, 2003 at 19:41:46:
Just transfer the title over to you (general warranty deed, quit claim deed, etc). And you make the payments and you have subject to deal.
You don’t want to tell the mortgage company about your subject to deal. If they find out they’ll want to accelerate the payment.
I know a good real estate attorney in your area if this is your 1st time. Send me an email if interested.
Joe