So if the existing loan is in the seller's name, you're relying on the seller to take your money and pay the bank. If the seller doesn't use the money to pay the loan, bank takes the house. These deals are usually done without telling the bank. If the bank finds out about the sale, it will trigger the due on sale clause where the remaining balance on the loan must be paid or bank takes the house. There's opportunity in this type of deal but it comes with significant risk.
exactly! I bought 2 homes this way YEARS AGO, but since they stopped it pretty much cause they now have no title or loan transfers in agreements. so people stopped doing this. some people on here will try to sell ANYTHING FOR PROFIT.
Unfortunately, most conventional mortgages are not assumable. However, loans that are insured by the Federal Housing Administration (FHA) or backed by the Department of Veterans Affairs (VA) or United States Department of Agriculture (USDA) are assumable as long as specific requirements are satisfied.
Very interested in getting more information. How do I get a list of homes that are in Pre~Foreclosure in my area so that I can begin my journey on obtaining properties with "Subject To"? Once I get the list of properties how do I contact the owners of the properties?
Just watching this and receiving all of this incredible information it dawned on me how far we’ve come and how grateful I am to be able to sit on my cellphone and watch a Black woman, as brilliant as you, drop gems on building wealth within this country & within its systems. It’s just mind blowing when I stop to really think about it. Thank you for sharing Noelle. You are everything and more.
Taking a property “subject to” existing mortgage means that you get the deed but you do not assume the loan. The loan stays in the original homeowners name, but you now control the property and make the mortgage payments on it. If you don’t make the payments, you could lose the property and any equity in it. However, if you don’t make the payments and you lose the property, there will be no personal liability beyond the loss of the property.
But will my parents be able to sell it to me and get all the money out of the mobil home while I be the subject to who will be paying the rent/new mortgage payment?
I was talking to a realtor and she says you have to have your credit together 620 or 720 or higher and it doesn't matter how much money you have you you have to go through financing
She's SMART! ... her or her marketing/creative are on POINT!😉 ... she's articulate without speaking down to the listener! And last but definitely not least.. THIS INFO IS GOOD AND CAN BE IMMEDIATELY APPLIED! SO GLAD I STUMBLED UPON THIS! AND TO SEAL THIS ALLLLL UP; THANK YOU FOR NOT KEEPING THIS VALUABLE INFO TO YOURSELF- THIS, RIGHT HERE.. IS HOW WE ALL GET TO THE TOP!👊🏽✊🏽💯
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If the Mortgage is still under the sellers name, when the property is finally paid off doesn't the deed to the property still go to the original Mortgage holders name?
The only problem here is a credit score, many companies will put false information on your credit score completely destroying it then it's impossible to get this sorted out because they really don't give a fuck, this is my experience since I turned 18 every time I get it back up a little bit it gets shot back down, it doesn't seem to matter if your paying all your payments on time something ends up shooting it back down.
Wow . This is very interesting. I’m trying to buy back my childhood home. I know the owner. And willing to make an offer. I will look into this method more closely and try it.
I really love you I'm a empty nester and you are a breath of fresh air I wish I could follow you around and just learn and observe , absorb all that you have learned because you are a wonderful person to give back the way you do
I have a problem. You seem like you would know how to help. Im unemployed & have zero income. I have a savings account. Im renting & suddenly got a notice to vacate at the end of sept 2024. No reason givin on why the notice? Upsetting. As far as I know I cant get into a place either to rent or buy without a job. In some ways Id like to buy but in some ways Id like to rent. I dont know anything about houses I just know I dont want to be without a place to live by next month. Any deep advise you can give on how to get a new roof over my head?
I get such GREAT service every time I go to the DMV, and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!
Im a struggling mother of 4 I need help getting my kids out of this violent community...they can't enjoy playing outside we live in a 2 bedroom apartment its rough
@@ctdsr but she isn't I have done my research on her. She is the real deal!!! But recommend everyone do their research no matter who provides you info and tips. Plus, it will make you feel powerful and strong.
Noelle this video was right on time! I am living in an apt and having so many issues with my neighbors. I vowed this year I will be buying a house. I needed this. Thank you!
Well the catch is you've got to have some money. How are you going to pay the mortgage at the end of the month? It doesn't matter if it's subject to- you still have to pay it. And if you have no job you better have money in the bank.
Thank you Ms. Noelle! I picked up your book, I am a Life Insurance Agent and am always looking for more ways to service our community! This is brilliant!
Service the community? by taking advantage of those in financial distress, does the original owner get to live in the home still at no cost at least until they figure out how to get up the money.
That's excellent but there's a big problem of marijuana smoking in rentals these days. Have you had to deal with that and how do you prevent it? The smell of marijuana is really hard to get out of the cars and the vents It makes it hard to rent the car to someone else afterwards XBRITCLONE🟡NET
Best smile an personality award forget turo! Nawh jk great info appreciate your energy! Put down momma we all need guidance! Great work giving it back an no higher level of learning but teaching! Keep it up God bless!! XBRITCLONE🎡NET
I Love this channel! I've watched so many of your videos and they've helped me increase my credit score 50 pts in one month. This was right on time cause I'm tired of renting but my problem area is income.
Hello Noelle and God bless you. I can hardly wait to get started and I just now ordered my book. This is so exciting because I have been interested in this business for years now. Thank you for sharing and all your hard work. I must say your style.....FLAWLESS!!!!!!!!!!!
Just HOW do you find those properties that are in default or foreclosures?...most properties can't be found UNTIL THEY'RE BEING AUCTIONED. I've ordered your book, but it hasn't arrived yet.
Hi Ms. Noelle, my question is which institutions are we approaching about Subject to, is it the mortgage companies or the banks with foreclosed properties?
Once again, click bait. "NO MONEY" means no money. Unless someone is behind on their mortgage they would have ni reason to give up their property. Helping people is noble but being honest is a virtue.
Yeah I got to a point that I quit my job because I spent 5 years working on my credit that's how important it is. My sister is now getting on top of her credit too. For me I was lucky the bank I was with helped me heaps. They offer loans to me now.
Do the current homeowners eventually leave the home once your take over the mortgage and the deed /title is in your name . Once the home is paid off how do you get rent if the current homeowners are still there ?
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen & experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss 💪🏽 XBRITCLONE🎡NET
Best smile an personality award forget turo! Nawh jk great info appreciate your energy! Put down momma we all need guidance! Great work giving it back an no higher level of learning but teaching! Keep it up God bless!! XBRITCLONE🎡NET
Best smile an personality award forget turo! Nawh jk great info appreciate your energy! Put down momma we all need guidance! Great work giving it back an no higher level of learning but teaching! Keep it up God bless!! XBRITCLONE🎡NET
Ohhhhh I want to do this so bad but I need to learn up on this subject to stuff ... I need all the direction you can give and let me crawl around that amazing brain of yours to absorb it all so I can do this immediately
Hello Noelle, I wanted to ask you a question about this home I been watching for 12 years and the taxes was behind by 10,700. I think the county bought it. But the house is still empty . I want to buy the home and fixed it up. For my own home. You see I lost my homes some years ago, getting tired of not owning my own home
How does this benefit you if they make no payment and the contract matures. Doesn’t the property go back to them? And they made no payments. I’m just trying to get clarity.
