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All Forum Posts by: Edward Brassington

Edward Brassington has started 1 posts and replied 2 times.

Wholesaling

Post: Wholesaling and Original Mortgage

Edward BrassingtonPosted
  • Renter
  • Maplewood, NJ
  • Posts 2
  • Votes 1

Wow!! This is my first post and I'm very pleased to find that it was this simple to find my answer. This clears everything up. Thank you!!! @Seteven Johnson @Dennis Estenson

0 Votes
Wholesaling

Post: Wholesaling and Original Mortgage

Edward BrassingtonPosted
  • Renter
  • Maplewood, NJ
  • Posts 2
  • Votes 1

Pardon me if this seems to be a silly question. However, I am new to wholesaling and I am trying to understand it as best as I can before I begin marketing for motivated sellers and buyers. My question is what happens to the seller's original mortgage after it is wholesaled to the buyer? I understand that the buyer gets a lower price, but what happens to the original mortgage to the original lender? (if it is not a subject to deal of course). I've been looking everywhere and can't seem to find the answer to this. Thank you in advance!!

1 Vote