Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated almost 8 years ago,
"subject to" financing
Hi Folks, Say I purchase a property from a relative, pay them their equity receve the deed in my name and assume the payment of their mortage Subject to.
I understand that the original mortgage is non assumable and that the bank could trigger the due on sale. What are the other potential pitfalls. Do I lose tax benefits since the mortgage interestt documents are not in my name. Should I just bite the bullet and refi? Thank you