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Updated 4 days ago,
Who is responsible for back mortgage after paperwork is signed?
Looking for advice:
We just closed on our first sub-to deal as end buyers (woo hoo!). We are responsible for the mortgage as of January 1 - but it's come to our attention that they stopped paying it back In October 2024. So they are two months behind.
In this case, who is responsible for the catch-up? We already paid them a pretty sizeable entry fee ($30k) to cover some of their equity and debt in another project.