Tim Willie

Alan Chantker‍ thank you for the feedback. Since your post I have done a little research on writing an offer using the "subject to" method. My two biggest questions are: Does the mortgage company typically accelarate the loan in these instances (Bank of America) and if I have essentially agreed to take over the existing payments as "interest only" payments on my part, would I write the offer stating the current information from the existing mortgage, but include that when we pay off the home (anytime in the next 72 months) that we will pay off the existing loan in addition to the difference between the balance at that time and the agreed upon purchase price of $xxx,xxx?Again, thank you for any help/feedback you can provide.Tim

I am in the process of completing a deal that will involve owner financing. However, the owner has a mortgage on the home that we are hoping to have remain in place. Do any of you have experience with doing this type of deal, specifically in CA, but in general is appreciated as well. I am mostly concerned about having the existing mortgage become accelerated if I record the transaction. So I'm wondering the best way to avoid having that happen, and if any of you know if Bank of America typically does routine checks on whether or not homes they hold mortgages on have been sold or have a title recorded in a different name.Thanks for any help.Tim