Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 06/21/2018

User Stats

42
Posts
17
Votes
Kamil Maras
  • Investor
  • Cape Coral, FL
17
Votes |
42
Posts

Bank called my Due on Sale Clause

Kamil Maras
  • Investor
  • Cape Coral, FL
Posted

Hi, I have been researching creative investing methods for a while now.  Through all of the posts and articles many claim that that banks do not call the loan due if the payments are made and the loan is performing.  
I recorded an Agreement for Deed with the city on my first wrap around mortgage transaction earlier this year.  Everything was smooth sailing until I applied for a new loan on another deal with the same lender.  And here comes an email that I have 30 days to pay off the loan that is being violated with the said transaction.  
My very first attempt at this interesting strategy and the worst case scenario.  Needless to say I will put that strategy to rest and would like to just put it out there that this happens so please have necessary funds to pay off the loan stashed in a separate account just in case.  But doing that I guess defeats the entire purpose of this endeavor.

Loading replies...