Help - banks calling after a sub-to deal asking for the seller

[Andrew Asmus]

How do you manage banks calling to speak with the seller after a sub-to deal?  I've been acting like I'm the seller when the bank occasionally calls and it feels wrong - it's just getting strange at this point.  Please help with some suggestions on how to deal with this or to get the mortgage note updated with the bank.

[Rick Pozos]

WHY is the bank calling???

You should never have the bank call unless the payment is late or the insurance is not up to date. When I do a sub-to I make sure that I have the previous owner information and do everything online. If they know that you changed ownership, they may call the loan due. In that case, you will have to refinance the property. You know that is always a possibility.