HOMEOWNER SOLD "SUBJECT TO THE EXISTING LOAN" AND WANT TO GET A NEW HOME LOAN, WHAT DOCUMENTS CAN I PROVIDE THE SELLER TO INCREASE THEIR CHANCES OF QUALIFYING

[Edward Adams]

I HAVE A HOMEOWNER WHO IS ATTEMPTING TO GET QUALIFIED FOR A NEW MORTGAGE. WE BOUGHT THEIR PROPERTY SUBJECT TO THE EXISTING LOAN 18 MONTHS AGO.

WHAT DOCUMENTATION CAN I PROVIDE TO THE RESPONSIBLE HOMEOWNER IN ORDER FOR THEM TO INCREASE THEIR CHANCES OF GETTING QUALIFIED FOR A SECOND LOAN?

WILL A LEASE SUFFICE? IS THERE ANY STANDARD DOCUMENTATION THAT MYSELF OR MY CLOSING ATTORNEY CAN PROVIDE TO THE HOMEOWNER THAT WILL ALLOW THEM TO QUALIFY FOR A NEW HOME LOAN WHILE THEIR OTHER LOAN IS STILL IN PLACE?