What is buying or acquiring property SUBJECT-TO the existing mortgage?
Getting the Deed with Financing Already In Place!
Just think of it like this: A subject-to deal is where a homeowner gives you their property, but unlike a "traditional" scenario, the property is not free of liens. Instead, it's still "subject to" the existing liens (such as mortgages).
(A "subject to" deal is basically the same thing as the old "assumable" loans, with the difference being that with assumable loans, the bank has given its blessing to the transaction and the liability for the loan will eventually pass to the new owner. Subject-to deals, on the other hand, are typically done without specific approval from the lender, and liability for the loan remains with the previous owner until the loan is paid off.) The existing loan remains in effect and you take control of the property without qualifying for a new loan or assuming the existing loan. The legal instrument that allows control and the transfer of existing financing is a Trust. The seller creates a land trust and, then, assigns the beneficial interest in the property to the buyer/investor. (We will help to set up the Trust for you.)
To make it more clear, you've got to understand that the new owner of a property in a Subject To transaction is not usually the same as the owner of the mortgage against that property. So when we complete that transaction, you (Investor)then hold the deed to the property, but your deed is still "subject to" the loan the seller had from the lender/mortgage company because the loan wasn't completely paid off at closing.
Buying property Subject-To the existing Mortgage is an incredible and awsome way to buy property, and these types of transactions truly require none of your own credit...ever.
The simple fact is that if having ABSOLUTE, UNDENIABLE ownership of a property is your goal, buying properties Subject-To is one of the best ways in creative real estate to achieve that goal.
Bottom line is: Buying a property “Sub-To” or “Subject To” simply means acquiring (buying and controlling) and transferring real or personal property without disturbing the existing financing, mortgages, liens or notes which may already exist and be in place in the name of the seller, but You get the Deed...You are the Owner.
YOU GET A PROPERTY WITHOUT QUALIFIYING FOR A MORTGAGE. This is Not Illegal. It is similiar to an Assumption of mortgage but without credit approval.
Learn to Leverage your cash. Lets say you have $90,000 cash. Sure you can buy 1 house well below value and good cash flow. But how about ten houses for the same $90,000 well below value and cash flow as well?
How do you think that can happen? Enter the 'Subject to the existing financing' method for investing.
Remember those sellers who are facing ARM adjustments, and cannot come up with lump sums, or handle rising payments? Sure, some of them with some 'tweaking' of their mortgage terms, can keep their homes. Not all will be able to though. So, rather than buy one property, you spread your money out and make a better return.
***Financial Relief Solutions structures and acquires properties utilizing the Subject To method and will be offering these deals to Investors who are interested in Buying/Acquiring property this way. Enter Here <----
LIfetime Membership Fee for the Subject To program is FREE!
Fee's for each Subject To transaction that we arrange for you thereafter can range from as low as $3,500 up to $15,000. In other words you get the Deed with financing Already in place for as low as $3500 and remember...No Credit Check and No Bank Qualify to acquire any of these properties (this beats the 10% to 20% down or $15,000 to $30,000 down ) lenders are now requiring for traditional financing with YOUR CREDIT on the line.)
Benefits of Buying/Acquiring Subject To:
1. No credit check or bank qualifying even if you've had bankruptcy, foreclosure os simply lousy credit...
2. You dont have to get a mortgage in your name because the existing mortgage comes with the deed/property.
3. No Personal Credit Liability attached to property
4. You get the Deed, hence You are the Owner
5. You can Sell, Lease, Rent or refinance the property and any profit made is yours to keep.
6. The property is put in a Trust to keep any other liens from attaching to the property after you have acquired it and to keep your transaction somewhat private if you desire and we'll set up the Trust for you.
For the Investor Short sale Program click---> Here
Call us for more details or information at 877-717-6759
Call us at 877-717-6759 for a FREE consultation with Financial Relief Solutions or visit us on the web at www.FinancialReliefSolutions.com
Financial Relief Solutions (877) 717-6759 Fax # (877) 376-9911
Correspondence and Mailing Address:
2320 E. Baseline Road Suite 148
Phoenix, Arizona 85042
(602) 774-4802
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