Need SubTo Exit or New Idea for resolution

I did a SubjectTo with some “friends” who’d just filed bankruptcy, with plans of getting the loan in my name within the year. It’s a year later and though I have the income, and score …a few late payments on a timeshare (which registers as a mortgage) is not fairing well.

The house has been in the market a while, with no success.
They now have explored short sale and died in lieu, however, the first option would be for me to get the loan in my name as was originally planned.
It’s a nice home in nice area…originally appraised at 390k ….mortage is 340 ….now willing to do short sale of 300-320k

Any suggestions or ideas or how to resolve this?



If you can not get the financing, tell them so, so that they can find another buyer.

They are your “friends?” You aren’t doing them any favors by pretending you can bail them out when you can’t.

Other than that, my only suggestion is to try a couple of different mortgage brokers to see if one of them can get you qualified for a loan so you can perform on your contract.

Maybe you could birddog the deal out and find them a buyer.

What type of contract and ownership vehicle did you use to buy the House?

Have you not been making the payments?

How did oyu determine Value?

If you answer these I will try and help

Michael Quarles

If you can’t take the property for yourself then assign it over to an investor for an assignment fee or to an end user offering seller financing. If you have the property deeded to you then why not sell it on a lease option or land contract?

Best regards,

Daniel Durham

We definitely have already told them. Their exploring all other options as are we. We’ve been paying the note for more than a year. Thanks

Oh yes, definitely TRYING my best to find a buyer, just difficult to do at this time. Thanks for the advice.


If you did a Subject To, then you have the deed. What options are the former owners exploring, and how will they be able to perform if they aren’t the owners? Are you planning to deed the property back to the former owners?