Sub to. Is it legal in Massachusetts?

Question

I'm a new real estate investor trying to understand creative methods of purchasing real estate.

I've come across the idea of taking over a mortgage sub to and I've heard some mixed things as to whether it's legal or not...

I know Massachusetts can be sticklers in many legal areas compared to other states.

I've reached out to multiple lenders, attorneys and agents to get their take on it and it's kinda mixed.  Probably leaning more towards it's not legal.

Does anyone have any knowledge and/or experience doing a sub to in Massachusetts that would in fact make this legal or illegal?

Curt Smith · Answer

Hi Jourdan,  #1 search BP for subject to, sub to, sub-to.  A few good threads.   I offer a sub to training pdf by you connecting and PMing me.  I hate to let good deals get screwed up as sub to is very complicated.

Re your MA question;  this is exactly why my #1 tip is for everyone to join their local REIAs, real estate investor associations.  Old timer experts are in the REIAs, the local old time RE groups.  IE for your local how, and if, quiestions.

I don't know MA, but I do know sub to.  I know of no legal issues of "taking over paying a sellers mortgage" where a state would get involved.

Find the other BP sub to threads where I outlined how to quiz local RE attorneys/title offices re if they are "investor friendly" "creative deal friendly" and "closing a sale without paying off the mortgage" friendly.  The local RE legal experts have the experts say.

1) join local REIAs, best tip for you anyway.  2) get referrals for MA / your area RE closing offices 3) ask the quiz questions... 4) get my sub to training pdf;  connect then PM. 5) buy BPs creative books (all) IE Zero down.

Best to all, curt