This is not always true, but a likihood the termites and moisture penetration are at the same location.

If the net from the sale is more than the mortgage balance, the seller gets the excess.

& the excess volume of water/waste can & will back up with a lot of hydrostatic pressure via the easiest route.... your basement.

Portfolio lenders rarely require the use of a property manager or keeping excess reserves in the bank outside of a possible tax and insurance escrow.

Forgot to mention, you need to find the source of the moisture that caused the mold in first, and make sure it's fixed.

Normal wear and tear is covered by the lease, however excessive damage is not.

Not sure exactly how this is handled in a Subject To, when you refi under your name b/c the old mortgage and if there is an escrow account, it's possible that any excess funds at payoff may be refunded to the original mortgagee and not you!

Let sit for a little while then sponge away the excess and peel off.

However I didn't see any evidence of moisture, and didn't hear any drips behind walls, but it was in the back of my mind.On the third night after I got home I was exhausted and fell asleep, some time around 4am for whatever reason I can't explain, it clicked and I knew it must be a running garden hose.

Or in the near future you sell the property for more than $120,000 to pay the mortgage and also profit any excess of $120,000.