SPECIAL Assignment Contract Needed. See Inside For Details.
Does anyone on here, have the "sub to" contract that people are using to do the new "Mortgage Assignment" (PAYMENT ASSIGNMENT) strategy? Basically you are buying the property sub to and then instead of holding it you sell the payment assignment contract to someone (wholesale or end buyer) for $8-$12k and you walk away leaving the seller with the buyer and the buyer is then liable and owner financed by the seller with the existing mortgage.
I was informed that all payments are assignable by law even if the (mortgage) note itself is not assignable. So using this info you can "assume" or "assign" a mortgage to someone if you want to but you have to do it by assigning the payments...not the actual loan (note).
I was presented with this strategy but of course you need to invest $2000 to get access to the contracts you need and the full details of the program. I don't need to program, I think most of us on here can figure out how to do it without spending $2k. I just need a solid contract that someone has received from this "course" or a contract that someone is using for a similar type strategy. You can PM me if you want or post your reply here.
As always, thank you to everyone for your insight and assistance!
__________________
Thanks,
Bernard
SKY Real Estate Services, Inc.
"Money Doesn't Grow On Trees, But It Does Fall From The SKY!"
Does anyone on here, have the "sub to" contract that people are using to do the new "Mortgage Assignment" (PAYMENT ASSIGNMENT) strategy? Basically you are buying the property sub to and then instead of holding it you sell the payment assignment contract to someone (wholesale or end buyer) for $8-$12k and you walk away leaving the seller with the buyer and the buyer is then liable and owner financed by the seller with the existing mortgage.
I was informed that all payments are assignable by law even if the (mortgage) note itself is not assignable. So using this info you can "assume" or "assign" a mortgage to someone if you want to but you have to do it by assigning the payments...not the actual loan (note).
I was presented with this strategy but of course you need to invest $2000 to get access to the contracts you need and the full details of the program. I don't need to program, I think most of us on here can figure out how to do it without spending $2k. I just need a solid contract that someone has received from this "course" or a contract that someone is using for a similar type strategy. You can PM me if you want or post your reply here.
As always, thank you to everyone for your insight and assistance!
Thanks,
Bernard
SKY Real Estate Services, Inc.
"Money Doesn't Grow On Trees, But It Does Fall From The SKY!"