Please fogive me in the event I’ve missed this in a previous discussion
As I understand it, when you do a SS you take over the sellers payments. My question is what type of financial info would the bank need to see from the investor (if any) to be sure that their not putting themselves back in the same situation with a person who may not be able to afford the property (figureing that the bank dosent know the investors exit strategy).
I’ve heard that an investor need not have good credit to pick up a SS because the prop. can be put in to a trust. Does that mean that the trustee has to qualify? If not then who does?
How does the bank know the investor acutally HAS the money? ???