Posted by Dave on July 31, 2001 at 22:10:21:
That’s what they want you to think and legally they can
but it is rarely done as long as they are getting the payment. Most likely they won’t even be aware of it and
if they do, you still have time to sell it. Be sure to
keep the existing insurance and just add your name as an “additionally insured”. This is one way they can find out if the insurance changes. I’ve done many
"subject-to’s" and never had a lender call the note. If you plan on keeping the property it’s best to use a “PACTrust” to eliminate ANY chance of the note
being called. If you don’t know about a PACTrust do a search on this subject. It’s been discussed before.