Posted by Chuck on April 15, 2002 at 17:11:27:
Yes, you write up a contract. It says you are buying “subject to” the existing loan balance or existing balance plus $1,000 or whatever the amount is.
You also need a “cover your assets” letter. This lets them know you are not assuming the loan.
What I should do about no credit and no money - Posted by Jim
Posted by Jim on March 18, 2002 at 11:15:22:
I have been researching the market and looking at some properties. I am getting pretty conficent in my ability. It is comming to the time where I am going to have to make an offer on some property. What option should I look for as far as financing goes?
Re: What I should do about no credit and no money - Posted by Chuck
Posted by Chuck on March 24, 2002 at 20:36:33:
Ask them if they will sell for what they owe.
If they say yes tell them you will take over the payments.
You get a house. They get debt relief
No Credit check, NO money down
It doesn’t get much better than that.
Listen to Ron LeGrand’s courses.
Re: What I should do about no credit and no money - Posted by calvin
Posted by calvin on April 15, 2002 at 16:45:24:
If you take over payments,you have no kind of
contract for the agreement. Shouldn’t there be one
wrote up.