Help needed. Tonight I am going totry and write a subject to existing financing deal. The house goes to foreclosure tomorrow. I am in Kansas I am using a typical real estate contract. I know there is a place I need to change from the pricing to "Subject to Existing Financing. I want to reinstate the loan after the contract is signed. Help please!
It’s probably too late at this point, but if the property is going to sale the next day, it’s too late to try and take over subject 2.
Is the property going into pre-foreclosure and not being Auctioned off at this point?
If it is just going into pre-foreclosure then you can save this deal.
John $Cash$ Locke
I would contact the bank to make sure they can deal the sale before you waste all of your time. Also, don’t send a copy of a Sub-2 P&S to the lender… if they ask for one. Just tell them you are a fiend and will be coming up with the cash to bring the mortgage current.
… I am going to say that it is probable to late and the lender will hold the auction regardless of what you say. Next time this comes up contact the lender first!