Sign Over That Deed
i am coming to the understanding that u caneasily assume a loan even if it is not assumable, but my question is once the deed is signed over the loan still stays in the owners name? why would they trust a complete stranger to guarentee payment on their loan. is this this the same concept as a "subject to"?[ Edited by kimesha on Date 02/08/2005 ]
because why would an investor want to risk personally guarantying a loan that they dont have to. not to mention the fees and new rates the lender is going to want to tack on. im not saying its ok to not pay the loan on time or anything like that, but in the real world deals do fall apart. fact is its alot less riskier for the investor, and they dont have to go throught the trouble of qualifying to assume the loan. have you tryed assuming loans or is that your assumption?
"why sould they trust a complete stranger to guarentee payment on their loan" because in most cases they have no other option, and if they check out the investor properly then there could be less risk of him defualting on the loan.
yes, that is basically the concept of sub2 check out some of the other forums to become more educated on the concept.
where is spell check when i need it.[ Edited by ZinOrganization on Date 02/08/2005 ]