Questions on Subject to Financing Details

[Francis Dai]

Some questions for people who've done deals subject to existing financing.

1. Is there any paperwork involved in taking over the owner's payments? Do you just send in payments with their account # ?

2. I heard that the owner needs to sign a form for you just to be able to get information from the lender about their loan. Do you have the owner sign this or any other forms?

3. Do you inform the lender? What do you say, and what is the usual response?

4. For loans originated in the 90s(these are the only ones that have equity) in California, are most loans assumable?

Thank you for your advice.