Quote from @Account Closed:
Quote from @Roger Paschal:
Quote from @Stacie Smith
Equity Assurance, LLC, offers insurance for the due on sale clause.
Thank you Stacie for the plug for Equity Assurance, in over 4 years of offering our services we have never had a foreclosure because of the Due on Sale Clause.
Also with almost 20 years of doing Subject 2 deals myself never have I had a bank follow thru with a foreclosure threat, yes they have called and I am sure they will continue to call in the future, that is their job is to make sure all is correct and the investors job to make sure all their ducks are in a row.
With Equity Assurance, our goal is to make sure the investor is educated and the seller has all the correct information and disclosure on how this process works.
We are now offering some online courses and documents to make sure the Investor is doing this process correctly.
We are also slowly changing our name from Equity Assurance to Subject2Institute.com to eliminate some of the confusion, we are not an official Insurance Policy we offer peace of mind for the seller if the investor needs this to make the sale.
Our job once again is to make sure the investor and seller are educated and all the correct disclosures are in place.
Roger D. Paschal
CEO Subject2Institute.com / Equity Assurance
Website looks like a training course (with spelling errors on it). They then post in 20 years they have never had a loan called, so if that is the case then why would someone want insurance?
I would question anyone providing insurance that is not licensed to provide insurance...
I've seen various posts where someone is telling other someones that Equity Assurance will pay off the loan if the note is called.
Is that accurate information?
First of all I have been doing Subject 2 Investments for just under 20 years, Equity was developed over 4 years ago.
I have never had a Due on sale clause go into foreclosure on any of my properties, my clients properties or any property we have facilitated with Equity Assurance, just because we are good at our job does not mean the Due on Sale never becomes an issue.
We are very good at first of all making sure the deal is done correctly, disclosures are in place, documents are correct and the investor follows through.
You ask why would anyone need this if we have never had a property go into Foreclosure? So would you rather work with a company that has a 10% failure rate?
Example, this Airline hardly ever crashes a plane vs an Airline who has never had a crash?
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Many people confuse our name, Equity Assurance with Insurance, we never have or never will provide any kind of Insurance, I have been working Subject 2 deals for almost 20 years and Equity has been in business for more than 4 years, both I and Equity have never had a Subject 2 deal go into Foreclosure because we are good at our job, yes we have had several Banks and Mortgage Companies question the sale and threaten the Due on Sale Clause in the Mortgage.
We are good at solving their issues, making sure the seller has full disclosures (who often are the cause to start with) because the Investor was not clear on how this process works.
This company "Equity Assurance" was developed because myself and other investors were losing deals because the Seller was concerned about the Due on Sale Clause, mostly because they were getting bad advice from their lame friends, a real estate agent or dad.
So when we got together as a group and realized there was a need for this service we started Equity Assurance mostly to get the seller on board and to help investors get deals they normally would never get.
Many of our calls we tell the investor they do not need to pay for a service like Equity because they are already educated in this process and the seller is not questing the deal.
After many people were confusing our service for insurance, we did look into providing a service to buy out Subject 2 loans, we did several test cases but we quickly learned about people and a couple of factors prevented this from happening on a large scale and why no one else offers any kind of Insurance to buy a loan if things go South.
First of all we found out that if investors thought they would be protected, they would not learn the correct process and they would just expect someone else to clean up their mess.
We also found that many investors would take advantage of this and tell the seller "don't worry about this, we have your back and I will make sure this loan is out of your name fast" and they would sabotage the loan one way or another. This happened several times. Not all investors are ethical.
With Equity we have found that many people who do not want to Invest with a one on one mentor and they try to do this business without any or much education, looking for a fast buck.
So we developed our on demand education system with Subject2Institute, just to make sure the more investors had answers to their questions, had a resource for documents, and had a community to reach out to.
I am sorry for any mis-spellings on our website, we will work to get that corrected, this has nothing to do with our product or our services.
All the questions on this thread are great questions and need to be asked.
Roger D. Paschal
