How Do You Pay Monthly Payments If?
lets say i put the property in the trust and i prefer not to let the bank know about it,in other words this is a subject to deal,how do i make the monthly payments if the bank does not know about the trust?
lets say i put the property in the trust and i prefer not to let the bank know about it,in other words this is a subject to deal,how do i make the monthly payments if the bank does not know about the trust?
Trusts are separate from the mortgage note. You will pay as normal. If the note is not paid, the bank will foreclose.
Larry,
Well said. Never used a trust never had a loan called, wonder how all those banks misssed it?
John $Cash$ Locke
[addsig]
if the property is in a trust that is recorded and you are trustee, and you send the bank checks with the same name on them as the trustee (which is you) then they wont think twice about it.