No More 'Subject To' Transactions

[Sharon Carter]

I just received an email from Phil and Shenoah Grove requesting investors to join forces and fight against a bill being proposed to legislation which will effectively STOP investors, buyers and sellers ability to purchase or sell properties 'subject-to the existing mortgage via a wrap around mortgage here in Texas.  The bill is SB 1993, 1994 & 1995.  They are asking for donations to help them fight this.  If you know them, please contact them to get more information on how to donate and offer additional services to stop legislation from passing this bill?  As we all know, there are always those that will not use this strategy to defraud buyers and sellers but for the most part, I want to believe more of us are doing these transactions the right way. 

Thank you.

Sharon

[Account Closed]

Yes, Yes, Yes let's do like Jay suggests and take away Subject To and let people figure out how to sell when there is no equity and we will see lots and lots of new foreclosures again! Yes! Let's all make lots of money on foreclosures instead of providing a "steam release" for stressed sellers. Who the heck cares about the seller anyway. They deserve to lose their property and credit because we can't provide Subject To. They were stupid to take out a loan in the first place.

The next thing we should do is regulate HML guys like Jay who lends, so that fix & flippers have to qualify at Chase or Goldman Sachs. In too many markets the HML crooks far outweigh the good guys in this and this practice needs to be stopped.

While we are at it, why don't we ban cars because one guy in Portland was too slow crossing the street and got hit by one. 

It's like using a sledge hammer to remove a sliver.