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Updated almost 9 years ago on . Most recent reply

User Stats

14
Posts
1
Votes
Nilo Gabales Samson
  • Caloocan, Metro Manila
1
Votes |
14
Posts

debt with equity house

Nilo Gabales Samson
  • Caloocan, Metro Manila
Posted

hello bp community. good day. i just have a question. is it possible to buy a house with owner financing when the property has a mortgage on it. ( not an over leverage house) its a debt with equity property, because in our area one of my friends said that if a house has a mortgage on a bank and the property was sold to another buyer, the bank may trigger the due on sale clause and may foreclosed the house if they will know about this trans. im just a little bit confused guys. any help from anyone is much appreciated. Im just a newbie. thanks for understanding. 

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