“The Subject-To”


Why Subject-To:

This could be one of your best options and arguably the best to ensure there is no Foreclosure. Let’s discuss this option… you, the homeowner, will convey the property to someone like myself (or another investor) through a Warranty Deed or Quitclaim Deed. In exchange, we can pay the arrearages to bring the mortgage current (STOPING THE FORECLOSURE) and make the monthly payments until the property is soled or refinanced, whichever comes first.

We will file the deed at the courthouse to protect our interests. We will pay you an agreed upon amount of consideration when the property is deeded to us and then we will discuss a date for you to vacate the premises. The objective of this method is for us to take over the existing loan, bring the payment current, keep them current for the length of our agreement, and therefore relieving you of the monthly debt.

This agreement should be 3-5 years in length. The longer we make the payments for you, the better your credit gets. If we pay the mortgage off immediately your credit does not get any better and it will take years for you to rebuild your credit. In every option, including this one, we want to make sure that all parties involved are made aware of the details of this transaction.

REMEMBER…¬†you, the homeowner, are being made aware that your names will remain on the mortgage and although we intend to pay the mortgage payments on your behalf, you remain fully liable for the mortgage payments.

For Example:

Your property has a mortgage that is $9,00 in arrears, the monthly mortgage payment is $1,500 per month and you are 6 payments behind. You, the homeowner, want $x,xxx cash to walk away from your property. In exchange for clear and marketable title, I agree to pay the arrearages of $9,000 to the bank in the form of a cashier’s check or wire transfer. At this point when we pay the bank and give you your money, you must vacate the premises. Our Equality Agreement must be signed if you choose this options.

If you have any questions about this option call me at 210-802-HOME.


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