Buying Subject to, Selling LPO or Wrap

[Mark Webb]

Does anyone have any information on buying subject to a existing mortgage and then selling with wrap around financing on even a lease purchase option. To be more specific what are some key things to be aware of that might make a deal like this go sour. Any thing will help, I would just like to find out if anyone has any first hand experience.

[Jay Hinrichs]

very old and tried scheme.. fraught with danger.. you have too many people that could default.

VERY risky for the original seller.. but then again many middle men that do this could give a rip about their sellers as long as they made some money.. ( not pointing fingers at you of course) but this scheme unfortuantly is full of crooks..  that rip payments and totally screw people..