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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Subject-to-Loan versus Assumption-of-loan. Posted by Ward-CA- on November 25, 2003 at 10:57 AM In Reply to: Subject-to-Loan posted by Jamie on November 24, 2003 at 1:44 PM : Have a company interested in buying a property that's in the midst of foreclosure. It would be a subject-to-loan. Have some questions about this. : 1. What's the difference between and assumption loan and a subject-to-laon? : 2. How reliable are these companiest that buy these properties? : The gentleman that I spoke with said that he buys the properties and then owner finances them with a lease-to-own option. Any help anyone could offer would be greatly appreciated. Thank you! =?=?=?=?=?=?=?=?=?=?= Jamie, #1. ASSUMPTION OF MORTGAGE: A formal agreement with a lender in which a new property owner agrees to be personally liable for the repayment of a pre-existing lien. Generally entails paying the lender an assumption fee and sometimes a higher interest rate. Doesn't release the original borrower from further liability unless the agreement specifically provides for it. SUBJECT TO: The purchase of a property with an existing lien against the title without assuming any personal liability for its payment. #2. There's no way to foretell the performance of company that's been unheard of heretofore. But the least you could do is check out the individual and his company with your local Better Business Bureau to see what complaints, if any, exist against the enterprise. Any time you need to define a word associated with foreclosures just click on the link below. Hope this helps. Foreclosue Glossary Follow Ups: Large Brested Woman Fat Asian Chick Bbw Dating Site Silicone Melon Berangari 9:18 PM, 10/26/05 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Have a company interested in buying a property that's in the midst of foreclosure. It would be a subject-to-loan. Have some questions about this. : : 1. What's the difference between and assumption loan and a subject-to-laon? : : 2. How reliable are these companiest that buy these properties? : : The gentleman that I spoke with said that he buys the properties and then owner finances them with a lease-to-own option. Any help anyone could offer would be greatly appreciated. Thank you! : =?=?=?=?=?=?=?=?=?=?= : Jamie, : : #1. ASSUMPTION OF MORTGAGE: A formal agreement with a lender in which a new property owner agrees to be personally liable for the repayment of a pre-existing lien. Generally entails paying the lender an assumption fee and sometimes a higher interest rate. Doesn't release the original borrower from further liability unless the agreement specifically provides for it. : : SUBJECT TO: The purchase of a property with an existing lien against the title without assuming any personal liability for its payment. : : #2. There's no way to foretell the performance of company that's been unheard of heretofore. But the least you could do is check out the individual and his company with your local Better Business Bureau to see what complaints, if any, exist against the enterprise. : : Any time you need to define a word associated with foreclosures just click on the link below. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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