Re: “Subject to”? - Posted by JPiper
Posted by JPiper on December 16, 1999 at 18:35:27:
First, I don?t notify the bank. I can?t tell you why Bronchick suggests this?.you?d have to ask him. I can tell you it works fine not to notify them. I?m a believer in a low profile?and to me notifying just raises the profile a notch. Why do it?
What I do however is to change the address. I have the seller send a letter which is signed at closing requesting that the address be changed to XYZ St., and to send all further communications to that address.
Further, I don?t know what your letter says?.it would be interesting to know. Evidently the bank must think you?ve assumed the loan without their authorization if they?ve sent you an assumption package. It?s not a problem that I have, since I don?t notify them.
I?d probably attempt to let this assumption package thing die down?.chances are it will. And perhaps you can tell me why Bronchick thinks you should inform the bank that you have deeded to a trust.