how I know seller is making payments ??
I'm new and this is my question.
How I know seller is making payments on the house that I'm L/O ?? what about if he doesnt make payments and goes in foreclosure ? how can I protect myself?
thanks for your help on this matter. 
Greetings
there are a couple of ways you could deal with this.
1st and easiest is to simply ask for proof of payment every month .
or ask the seller to set up internet auto-pay with you having either acess to the account passcode or a print out every month once the payment is drafted.
it is best to protect your self some way. and have/keep a paper trail of your payments.
make sure you check on the insurance payments and the taxes also.
hope this helps.
AB
[addsig]
Hi cesar,
This is another reason why I do not like to purchase on a L/O.
Seller still has too much control and their actions or inactions can affect my deal.
If you use a loan servicing company to collect the payments from your buyers (when you resell) and distribute the checks to the underlying mortgage, insurance, taxes, HOA then everyone is protected.
Best of luck
John (LV)
Don't forget that recording the lease/option is another important way of protecting yourself.
sorry, you mean recording with the county ?? a lease option ?
thank you
cesar
can lease option payments be recorded to the credit bureaus? Would that be one way of protecting oneself?