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Old Sep 6th, 2007, 01:01 PM   #9 (permalink)
AroundTheWorld
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Default Re: Acquire SFR without Financing

Originally Posted by Bilgefisher View Post
A subject to deal is the same as obtaining a quit claim, is this correct?
If your holding onto the property for CF(in her case), couldn't you just switch the mortgage?
You could, but one of the limitations becomes financing a number of properties. If it is a part of your plan to do this in volume, eventually the banks are going to make things extra challenging for you!


Originally Posted by Bilgefisher View Post

Or in my case were I am looking to flip properties would it matter since I will pay off the mortgage as soon as the property is flipped?
Also when you obtain a subject to deal, is the lender likely to enact their "due on sale" clause?
I wouldn't see much advantage to a flipper... other then - again if you are doing it in volume, and financing for your projects becomes more difficult.

If the seller remains one beni of the property - the DOS is not invoked.



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