I am planning to assume a mortgage of someone who is about to lose there home. It has been about 10 years since I have invested this way, and obviously the banking climate has changed.
So my question is for those who have done this before, have you ever had the due on sale clause triggered against you? If so, what caused the trigger?
The most common reason I have found online is that the investor changes the insurance info to reflect their interest in the property. Have any of you run into any other triggers?
Thanks.
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