More on "Subject to"
Here is the situation: A deal was in the works that I was going to purchase a home for myself with the Subject To technique. The couple were getting a divorce and each planned on renting apartments until they each could purchase another home.
Now with that origional 1st loan in place with their names on it, how are they supposed to eventually purchase another home for themselves. They don't want to be renting for long, they realize that they are throwing money away. Is there anything I can say that would help this situation? 
Thanks
Goofy1
Goofy1
As I understand it , your payment records and documents of the "deal" should suffice for the "banker" or if they do not like it try another. Money owed by them = the money you pay them - it is a wash - so most bankers should be ok with it.
Also, I've heard of some people using a Land Contract for this same purpose
Kelly
Find out how much each can afford monthly, how much down they have and hit the classifieds and the phone, I see 3 deals here, all subject to.
Darwin
Darwin,
I like the way you think!
Kelly
I was wondering about that myself. How would any underwriter notinclude the previous/current mortgage in the DTI (Debt To Income Ratio) ?
I see some who still think conventionally instead of creatively.
Ask any mortgage broker how he would finance your seller if they needed a new house based on what his lenders require. Remember they do not get paid until they get you the loan.
For instance Subject To isn't listed on the HUD-1 by accident.
If you do not have one on your team that knows how to get things done, then you really should find one.
John $Cash$ Locke