Comments on: Creative Finance -The Wraparound Mortgage (Wrap) http://realestateadvocate.com/realestateinvestment/creative-finance-the-wraparound-mortgage-wrap/ The Real Estate Guide Wed, 02 Dec 2009 18:31:23 -0800 http://wordpress.org/?v=abc hourly 1 By: REISkills2 http://realestateadvocate.com/realestateinvestment/creative-finance-the-wraparound-mortgage-wrap/comment-page-1/#comment-76 REISkills2 Sat, 26 Sep 2009 23:13:37 +0000 http://realestateadvocate.com/?p=108#comment-76 The Wrap or AITD is a useful tool. The Due on Sale Clause is an issue with many creative tools (e.g. Land Contract - Installment Sale, even Lease Option). Land Trusts are used to deal with Due On Sale Clauses. The question is: Is the bank going to call the loan due and repossess if the payments are being met and the property fire casualty insurance is being paid and the property taxes are being paid? I really think this is a non-issue today. And there is NO DUE ON SALE JAIL! See Bill Bronchick JD's LegalWhiz about that! Brian Gibbons http://REISkills2.com The Wrap or AITD is a useful tool. The Due on Sale Clause is an issue with many creative tools (e.g. Land Contract – Installment Sale, even Lease Option). Land Trusts are used to deal with Due On Sale Clauses.

The question is:

Is the bank going to call the loan due and repossess if the payments are being met and the property fire casualty insurance is being paid and the property taxes are being paid?

I really think this is a non-issue today.

And there is NO DUE ON SALE JAIL!
See Bill Bronchick JD’s LegalWhiz about that!

Brian Gibbons
http://REISkills2.com

]]> By: John Alesi http://realestateadvocate.com/realestateinvestment/creative-finance-the-wraparound-mortgage-wrap/comment-page-1/#comment-72 John Alesi Sat, 19 Sep 2009 15:41:00 +0000 http://realestateadvocate.com/?p=108#comment-72 I'm not sure wrap-arounds are available in all states. In California, most (maybe all) loans have a clause that makes the loan due and payable in full when the title changes, which has made wraps unavailable for several years. I’m not sure wrap-arounds are available in all states. In California, most (maybe all) loans have a clause that makes the loan due and payable in full when the title changes, which has made wraps unavailable for several years.

]]> By: New Mortgage Info » Blog Archive » Creative Finance -The Wraparound Mortgage (Wrap) | Real Estate … http://realestateadvocate.com/realestateinvestment/creative-finance-the-wraparound-mortgage-wrap/comment-page-1/#comment-71 New Mortgage Info » Blog Archive » Creative Finance -The Wraparound Mortgage (Wrap) | Real Estate … Wed, 19 Aug 2009 07:41:52 +0000 http://realestateadvocate.com/?p=108#comment-71 [...] Ross Hair wrote an interesting post today onCreative Finance -The Wraparound <b>Mortgage</b> (Wrap) | Real Estate <b>…</b>Here’s a quick excerpt [...] [...] Ross Hair wrote an interesting post today onCreative Finance -The Wraparound <b>Mortgage</b> (Wrap) | Real Estate <b>…</b>Here’s a quick excerpt [...]

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