CREATIVE FINANCING - SUBJECT TO
SUBJECT TO EXPLAINED
Buying a property "subject-to" means a buyer essentially takes over the seller’s remaining mortgage balance, without making it official with the lender.
Refers to the practice of purchasing real property on which there is an existing mortgage and, rather than paying off or assuming the mortgage, simply allowing it to remain on the property in the original owner's name. Purchasers buying property subject to a mortgage should make sure the loan does not have a due-on-sale clause and that it is not enforceable.
Benefits of a Subject To real estate transaction for the Seller:
Can help you stop a foreclosure if you are behind on your monthly mortgage payments
We will continue to pay your monthly mortgage payments, which will help your credit rating at a time when it could be drastically impacted. We can pay your lender directly or set-up an escrow account for your peace of mind.
If you have equity in your house, we can pay you CASH at closing to cover part or all of your equity
You can walk away WORRY FREE and with CASH in your pocket, to start the next chapter in your life without a cloud hanging over your head.
We can close FAST!
Benefits of a Subject To real estate transaction for the Buyer (Cardinal Homes Design Group):
No appraisal fees
No origination fees
Cheaper interest rate
Less money to come up with by utilizing the mortgage that is already in place
While conducting a real estate transaction “Subject To,” Cardinal Homes Design Group maintains 100% transparency between the seller, the buyer (CHDG), and your lender.
Here are some videos which explain the process for selling your house utilizing the “Subject To” creative financing technique. One difference from the second video is that we may be able to pay you your equity at the time of the closing instead of waiting 1, 2, 5 or 10 years. This way you no longer have the stress of wondering how you are going to make your mortgage payments each month, PLUS you get to walk away with MONEY in your pocket.