Sign Assignment of Mortgage

How to eSign a document: Sign Assignment of Mortgage

everybody French in here with REI club.com the only Sutton lead as a real estate investor today's quick video where you talk about the pros and cons of using mortgage assignments as an investment strategy now mortgage assignments are furnished a fancy way of taking a property subject to the existing financing and then assigning those rights to someone else so the long stays in place with the original seller and then the deed transfers ownership so the loan already on the property stays there without any a formal formal assumption from you as the investor now the owner will deed the property over to you or the end buyer and it but it does depend on the deal of because sometimes the deal passes directly through you and to the end buyer and then you are the in buyers responsible to payments to the mortgage company just as a former owner was okay now people wonder is this process or this strategy legal yes technically most law legal loan documents do not prohibit this action but most will allow the lender to call the loan immediately due and payable at their discretion say the discover the ownership has been transferred and what that's call is to do on sale clause which is attached to a majority of mortgage assignment documents now people wonder you know why would a seller agree to remain liable for the debt and there are many reasons they're possible they're looking for a fast quick sale they inherit a property that's paid off free and clear the one they live in the OL about 35 grand on they want to just go ahead and get rid of it and move into the free and clear home you know so this is a good strategy for them they get downsized from their job behind on payments and rather taking up foreclosure on their credit or a short sales they want to go ahead just get rid of the property this way you know maybe there's no equity in the home so when you're doing a traditional sell with the realtor you know it may take extra time sixteen hundred eighty days you know if you're distressed seller that's made me too long you have to deal with realtor fees 6% transfer fees closing costs repairs and of course guys if there's no equity in the home a lot of the time this comes out of their own pocket as a seller making them even further distressed okay now let's go to distress let me go ahead and discuss some the pros of mortgage assignments from the investor perspective a lot of times you will be using someone else's debt to finance or deals in her to be acquiring these properties without assuming credit risk now of course when you property you're gonna be engineer gonna be locked in at the interest rate of the date of the sellers purchase which means it may be lower than...