KNOW THE RISKS! "Subject to" and "Wrap" Financing Explained

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If you're considering subject to financing or wrap financing, be sure to watch this video first to learn all the risks involved. After watching this video, you'll be able to make an informed decision about whether or not subject to or wrap financing is right for you!
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KELLY ZITLOW, NMLS 164330
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Kelly Zitlow is a Public Speaker, Sr. Mortgage Advisor & EVP of Sales & Marketing with Cornerstone Home Lending, a Division of Cornerstone Capital Bank, SSB. All information presented is for educational purposes only and is used to help you as the viewer in your home buying or selling process.
Cornerstone Home Lending, a Division of Cornerstone Capital Bank, SSB. Cornerstone Capital Bank, SSB. Member FDIC. NMLS ID# 2258 | Equal Housing Lender 14635 | N Kierland Blvd Ste 140, Scottsdale, AZ 85254
#subjectto #subjecttofinance #mortgage

Опубликовано:

22 фев 2023

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Комментарии : 27

@LVWizard 8 месяцев назад

Seems you're just presenting the risks...but not the solutions to these risks. I guess if folks do this, then there's no NEED for a lender. Oh, you ARE a lender. (I get it now.)

@bfdweik1 5 месяцев назад

Ur a real estate lawyer that benefit from one off situations. The other is a mortgage lender....just want to issue mortgages. So naturally they will poopoo subject to that takes away business from them. FUD fear uncertainty doubt

@kellyzitlow 5 месяцев назад

Thank you for watching and commenting!

@-ws7jg Месяц назад

Good video. Sub 2 deals are becoming increasingly popular due to social media influencers. But in some states these deals are heavily scrutinized or regulated. Doing one of these deals improperly can result in heavy civil or criminal penalties. Never see the influencers talk about that aspect.

@kellyzitlow Месяц назад

Thanks for watching & leaving a comment 😃

@ERIC-lw2yl 10 месяцев назад

I find it interesting that he said the sellers can’t get their property back if the buyer fails to make the payments… I had an attorney tell my friend who is a realtor that if there is 1 late payment or missed payment the deed goes back to the seller ..

@kellyzitlow 10 месяцев назад

The seller may be able to get it back but will likely have to follow the state’s foreclosure laws. The answer will vary depending on how the transaction is structured and if there is a deed recorded transferring ownership

@Junkhomebuyers 5 месяцев назад

yes you can get the property back if you get a "performance deed" at closing. Our a deed in lieu of foreclosure up front. So the seller won't need to do a foreclosure because in the contract agreement, you will have it in writing that you get to get the property back if the buyer fails to make a payment.

@BlackhornPrax 7 месяцев назад

I do 2-3 per month, and there are plenty of companies that do subject-to. Mostly VA loans. I'm sorry but this isn't a balanced conversation.

@robertoglesby2044 Год назад

Great information !

@kellyzitlow Год назад

Thanks Robert! Happy that you got value out of it. I always learn something from Patrick! 😀

@kevinmajeski 4 месяца назад

Very helpful! Thank you.

@kellyzitlow 4 месяца назад

Thank you for watching and commenting!

@jennifermcgrew9634 7 месяцев назад

Thank you for this information! I was presented a deal and this was very useful and will help me make a decision.

@kellyzitlow 7 месяцев назад

That's great to hear that this was helpful! Thank you for watching and leaving a comment!

@markd2312 3 месяца назад

By using a Mortgage Service to pay and monitor monthly payments, the lender won't be able to call the Due on Sale, especially if the buyer has the property under an Land Trust. By using a mortgage servicer, with in 12 months buyer can wipe out the DTI, and seller will be able to obtain a loan, because a 3rd party service provider is in hand.

@kellyzitlow Месяц назад

Thank you for watching and leaving a comment.

@OscarAparicioGRIMRP 4 месяца назад

Loved this video. Right to the matter❤

@kellyzitlow 4 месяца назад

Thanks for watching and commenting!

@joelromero2949 Месяц назад

This is a really good video . Subscribed !

@kellyzitlow Месяц назад

Thank you! We do have another channel that we post weekly to as well if you want to check that out! ru-vid.com

@BlackhornPrax 7 месяцев назад

There are plenty of ways to protect the seller. You don't need to wrap to purchase subject to, and it sounds like you're talking about selling Subject-To to a homestead buyer. NEVER DO THIS. Really these kind of transactions should only be done by professionals, those that have the liquidity to pay of the mortgage in case the the note is called due. You don't need to go to court, you can put a separate deed in escrow if the payment is not made.

@kellyzitlow 6 месяцев назад

Thanks for watching and leaving a comment!

@NellySP 3 месяца назад

Lots of scary comments and especially from the host who doesn’t clearly understand this strategy.

@kellyzitlow 3 месяца назад

Thanks for watching and commenting!

@Jordan-fc7dm 4 месяца назад

lol we are solving problems that's what you guys are leaving out, investors that know how to navigate these waters should be the only ones doing these types of transactions. a "regular buyer" isn't typically buying a property this way. and the seller can get the property back with a performance deed and even if you did a wrap around mortgage you still give them recourse. thats not to say all investors do this, some don't have integrity, the only thing you guys are harping is the negative. thumbs down on this video for me.

@kellyzitlow Месяц назад

I'm sorry you feel that way but thank you for watching and taking time to leave a comment.