All Forum Posts by: David Morgan

@Jon Holdman

I've got backup financing lined up just in case. So you're saying that the change on the insurance policy would be notice enough?

Cool. I'll pm you.

Thanks @Levi Graziano@Levi Graziano, I'll put it on my calendar.

I need to close a purchase subject to existing financing, and the attorneys and title companies I've talked to so far won't do it. Anybody know who in the Knoxville area will help me make this sub2 happen? Thank you!

I have the opportunity to buy a house subject to existing financing, with plenty of equity and a great rate. What exactly do I say in my letter to the lender when I notify them?

@Andrew Postell thank you!

Can't even find a real estate attorney who will touch this. 

@Andrew Postell thanks for your reply. The seller wants to move forward, and I talked to a local banker about a collateral-based loan as Plan B, just in case the note is called. (I left my job this year and won't qualify for a conventional mortgage, but I've got a couple of rentals paid off.) The banker said sure, but he added they're highly unlikely to call the note.

What do I tell the lender? Do I just send a letter saying that due to financial hardship, the seller needed to close quickly, so the next payment will come from my LLC... and please waive the DOS clause?

What needs to be in the contract?

I'm not sure how to proceed.

I have the opportunity to buy a house subject to existing financing. Does anyone have experience with PennyMac calling a loan due? 

As far avoiding triggering the due on sale clause, would it matter whether it's in my name or my LLC's?

Thanks!

Hi, I bought a double wide mobile home with land at auction. The home has been detitled. I have a buyer for the home only. He's going to move it, and I'll keep the land. I'm selling it with financing. What paperwork is needed in TN to do this?