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By Nate Kennedy on April 11th, 2012
Favorite Creative Financing Method
A great way to finance properties is to purchase them subject to the existing mortgage. You receive title to the property: the Deed transfers to you. The loan, however, stays in the name of the borrower while you make the payments to the bank. The lender’s lien on the property remains intact so they still have the right to foreclose if payments are not made timely. The legal responsibility stays in the name of the borrower, but the ownership of the property transfers to you. This is a fast, easy method for obtaining financing on properties.
