Originally posted by David Alexander:
Lol...
Then you didnt' talk to any of my folks..
Because if you did...
You would be quietly amazed...
I know they keep their mouth closed..
Or you simply talked to someone that didn't understand it and thought of it just like you do.. (meaning they haven't been through the training and are just speculating as you are... lol).
No, they provided proof they took the training. Could they have fooled us? Well, anything is possible, but... let's just leave that there, k?
Taz... It doesn't matter to me what you think...
The sub3 term was created by a friend of mine as I said...
Because it isn't sub2...
Yes, I know you say it isn't subject to because you don't actually buy the property, yadda yadda yadda. I know the person buying the property to live in actually assumes the note, yadda yadda yadda. I know you are in the note business, yadda yadda yadda.
It isn't new, my grandfather was doing this 80+ years ago and my parents 40+. Heck, even I did a few back in the day when you really could FULLY assume any loan without bank approval. Then it was just FHA/VA, then just VA, now they all have DOSC they only sporadically enforce.
Not even close! I have paperwork buying property subject to the existing financing from 1984. The first time I heard the "sub2" term was when Robert Allen was clumsily trying to teach people to sound a bit like an auctioneer at one of his free seminars in 1985. I can still remember his crappy pitch, "Gotta say it fast so they think it is a normal term and not ask you to explain it." ROFL! Ah, the entertainment value of gurus is immense sometimes. Too bad Robert Allen went bankrupt taking his own advice...
twice.
Anyway, as I said, my curiosity has been satisfied.
Of course, I do have a bit of an advantage here...
Nah, pointless.