All Forum Posts by: Rojo Lewis

@Jay Hinrichs Thank you very much for all your advice.

@Jay Hinrichs I’ve researched high and low and it’s legal. The problem comes with the mortgage company. I’m thinking it’s best to pay the mortgage off and get them out of the way.

@Joe S. yes I got all that. But she called and removed me as an authorized party.

@Mike Cumbie Thank you very much. It did help. But how can I pay off the mortgage if she removed me as a 3rd party on the account?

@Theresa Harris She ate it apparently. And I’ve tried this approach but I need to be sure it won’t bite me in the butt.

@Wayne Brooks I had her sign a due on sale disclosure where it lists all that could happen if the mortgage company finds out about the transfer of the property with her name still on the mortgage etc..

Hello Everyone,

I need some major advice. I recently purchased a property subject to the existing mortgage. The home was going to auction but I was able to stop the auction and help pull the home out of foreclosure and get the owner a loan modification(she hadn’t made a payment in 3 years). I had the seller sign a few contracts and we verbally agreed on a price of $15k for the home and taking the property over subject to. She received $5k upfront when she signed the deed and the other $10k when the loan modification documents came in the mail. Well we’ve had a few disagreements while waiting on the loan documents to come in the mail and she stopped letting my workers come in to fix up on the house. I agreed to let her stay until October 1st but we needed to go half on the mortgage payments. She agreed but couldn’t come up with her half of the money and she also removed me as a 3rd party authorizer so I couldn’t make the payments either. She also told me that she is not comfortable moving out of the home with her name still attached to the house. So at this point I told her that I am going to sell the property and that her $10k will be held in escrow for her until she is out of the home on October 1st like we agreed. She is now saying that she wants her house back and that I misled her.......she was not misled and is just upset because I couldn’t afford to give her another cash advance. The deed is in my name and the mortgage is in Hers. Do I stand a chance in court? What could I do? My contracts are pretty solid. I’m not sure if she sent the loan modification documents back in or not, Nor do I know if she made the mortgage payment. Any advice would help. Thanks.

@Brynton Lemar Welcome! I am located in Florida. I would love to connect.

Ok guys I need help! I have a decent deal in place, but the seller doesn't want to deal with any 3rd party funding. I found a hard money lender but they need a signed agreement between me and the seller before they can issue funds. This would be my 1st deal and it's been extremely tough finding funding with no experience under my belt. I don't want to let this deal go and the seller is STERN! He has even made shots at me for being a "beginner" and even told me I didn't know what I was doing and that I needed to get it together or don't worry about it. What do I do? I have no other way to come up with the money to buy this house, and the seller does not want to go through a 3rd party. The seller wants 30k and the ARV is 102k. Should I let it go?

@Frank Patalano Money,Can’t get any loans and no one I know has that much money to lend me.