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I love buying houses Subject-To their existing mortgages. Buying Sub-2 is my favorite real estate strategy. Taking over someone’s mortgage payments is very helpful when a seller needs to sell a house fast, but doesn’t have the time or enough equity to list the house on the MLS.

There are many delays when you list your house on the MLS. First you must interview Realtors, fill out lots of paperwork, (I know, because I used to be a Realtor!), have lots of showings, get offers, and then keep your fingers crossed that the buyer’s loan actually comes through!

Selling your house Sub-to to me allows you to by pass all of those lengthy obstacles, not to mention, save tons of money on commissions.

When I buy your house Sub-2, I take over your mortgage payments. The property is deeded to me at closing, and the loan stays in place in your name. I always allow the sellers to log in to the bank whenever they like to make sure everything is being paid!

With today’s crazy high mortgage rates, more sellers should be offering their homes subject-to their existing mortgages with lower rates.

Some people might think Sub-2 is the same as a loan assumption. It is not. Buying Sub-2 means you make the mortgage payments, but you don’t have to spend a long time qualifying for the loan with endless documents. It’s much easier than all that.

Is it legal? Of course! I wouldn’t be doing Sub-2 deals if it weren’t legal. You can even find a specific line on the HUD for Sub-2 (line 203). There is a special clause I use in my contracts when I buy Sub-2 and there is a particular way to handle the insurance. If you are investor considering getting into buying house Sub-2, I highly recommend finding my book on Amazon to help you through your first deal. My book is called “How-to Sub-2: Subject-To Real Estate Investing Quick-Guide” by Kimberly Banks (me!). Some people have complained that the font is too big. Oops – sorry about that! I never claimed to be good at book formatting, but I sure do know my way about buying houses Sub-2.

If you ever need a hand with your first Sub-2 deal, let me know! They’re a lot easier than you might think! Good luck!