Finding Subject To Deals
Hi Everyone:
They say that the assumable mortgages are no longer available from 1985-86 and almost all the new mortgages have a Due On Sale
clause. My question is where in the world then we find the Subject To DEALS ? Can anyone please guide ?
sayana 
Finding a subject to deal has nothing to do with the DOS or mortgage.
You take over the payments and you ignore the DOS is the assumption.
If the paperwork is handled correctly there is a small chance that you will ever get questioned by the lender.
John
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Hi John:
Thanks for the response. My
question was where to find Subject To
deals these days. Please guide.
sayana
sayana,
How about these for a start:
1. Someone who is forced to relocate quickly because of employment.
2. Someone who has already purchased another home elsewhere and does not want double payments.
3. A divorcing couple where the husband nor the wife can afford the mortgage payments on their own.
4. An out of state owner that is tired of trying to manage a property from afar.
These are just a few. I'm sure other posters will give other scenarios. Good Luck.
Dave
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I direct mail to find subject to deals... I look for people who have bought their house 1-4 years ago and direct mail an advertisement postcard that I make myself (supplies at Staples)… It's a very hit or miss kind of mailing, but if you find the right areas with the higher rates of default - you have a good chance of finding people that need your help.
Good Luck!
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