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Updated about 9 years ago on . Most recent reply
Can I sell the note for a home I bought subject to?
Is it possible to sell the mortgage note on a property that I bought subject to the sellers existing financing? This property has no equity but I wanted to see if I could pull some cash out of it some how... I own the home but I do not own the loan. The home is worth about $70K but there is about $98k owed on the loan.
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
No. You don't own the loan, so you can't sell it. You can't pull cash out of an upside down property.