The #1
Real Estate Investing
Community

Fri, Nov 21, 2008

TCI Shopping

Featured TCI Properties

N'Side Special- Make $$$
Jacksonville, FL

Price: $54,000

FMV: $85,000

703-778-5755
Login Problems?
Sales
Support
Feedback
Recommend Us
History and Purpose of TCI

Advertise on our site
Advertising Login
Sell Your Product Here!

Send this to:

Best Real Estate Investor Loan Assumption Technique.

Tuesday, May 14, 2002 @ 09:12 AM EDT

Printer Friendly Page

Send this Story to a Friend

Contributed by: Inactive Account

Inactive Account Properties

Read more archived articles about U Make The Call

I'm an investor and in the process of using a decoy first-time-buyer to transact the purchase of a triplex, in order to qualify much easily and with low down-payment. I currently own nine properties. My question is....How do I structure the loan without tipping off my lender of my intension to assume the mortgage from my decoy buyer? Somebody help me out here......p l e a s e......


Advertisement

Word Cloud:
down-payment. question e...... technique. structure mortgage without with assumption triplex, currently somebody nine buyer? easily estate help transact investor using assume order process loan intension purchase tipping first-time-buyer qualify best lender much real here......p decoy is....how properties.

Join 232,240 other
members FREE!

· More about U Make The Call
· Other articles by Inactive

Most read story about U Make The Call:
Russ Whitney Education

Average Score: 0
Votes: 0

Printer Friendly Page

Send this Story to a Friend

Logged In members can moderate all comments.

Re: Best Investor Loan Assumption Technique. (Score: 1)
by joel on Tuesday, May 14, 2002 @ 09:16 AM EDT

What about putting into a Land Trust to start off with?? You could assume the loan and keep the buyer on the loan for five years. The problem is what buyer in their right mind would want to do a deal like this where their name is on the mortgage but not on the deed. There has got to be a better way structuring this deal.

[ Post Comment | Reply to This Comment ]

Re: Best Investor Loan Assumption Technique. (Score: 0)
by on Wednesday, May 22, 2002 @ 11:47 AM EDT

Using a Land Trust (if done correctly ) will help you to AVOID LOAN FRAUD and other legal complications that your deal may face (Give the current way you've just Expressed)!

Lenders DON NOT LIKE BEING LIED TO! THAT GOES FOR THE FEDERAL GOVT as WELL!

Your Decoy Buyer/Borrower is signing onto a Federally Insured Loan. ANy Lies, Intentional Omissions, etc. could land both them & YOU in PRISON!

Think through the set up for your purchase, have the Decoy buyer to arrange for a land trust in their own name then give you and ABI (Assignment of Beneficial Interest) with 90% and they keep 10% for Tax, and to prevent DOS (Due on Sale) caluse violations!

Your percentage and power of direction in the land trust works just as well (Even better) than the way you intend to do it currently.

If you are interested in setting up deals like these then: Contact me for more info on Equity Holding Trust (tm)!

Derrick Ali
517.414.8478

[ Post Comment | Reply to This Comment ]

Re: Best Investor Loan Assumption Technique. by secretsearcher on Friday, May 31, 2002 @ 12:40 AM EDT

Re: Best Investor Loan Assumption Technique. (Score: 0)
by on Wednesday, May 22, 2002 @ 11:47 AM EDT

[ Post Comment | Reply to This Comment ]

The Creative Investor web site was created for Landlords, Property Managers and Real Estate Investing community.
Through using our forums, investors will be able to talk about finance, no down payment purchases, debt payoff, purchase strategies and current real estate news.
Privacy Agreement and Terms of Use. All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest 2002 by PropBot.com L.L.C.

The #1Real Estate InvestingCommunity

Best Real Estate Investor Loan Assumption Technique.

The #1
Real Estate Investing
Community