Posted by TJ on April 16, 2004 at 17:56:46:
What should I do since I have done a couple of deals before I got the sellers to sign off on this performance mortgage? How do I ensure my profit in the deal as an investor?
Performance Mortgage - Posted by Ron M.
Posted by Ron M. on February 19, 2004 at 13:11:56:
Does recording a performance mortgage and note on a lease-option purchase violate the due-on-sale clause in most deeds of trust?
Re: Performance Mortgage - Posted by Bill Bronchick
Posted by Bill Bronchick on February 19, 2004 at 16:11:24:
No, recording a subordinate mortgage is permitted by the standard FNMA mortgage or deed of trust. It’s the lease/option transaction itself that triggers the due on sale.