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Subject To. Click through for a step-by-step example of how “Subject to” works. Press Esc to exit presentation. William’s Deal. Single Family House FMV = $180,000 1 st Mortgage = $92,000 2 nd Mortgage = $41,000 William bought the house: ● Subject to the 1 st $ 92,000

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  1. Subject To Click through for a step-by-step example of how “Subject to” works. Press Esc to exit presentation.

  2. William’s Deal Single Family House FMV = $180,000 1st Mortgage = $92,000 2nd Mortgage = $41,000 William bought the house: ● Subject to the 1st $ 92,000 ● Short Saled the 2nd$ 23,000 Total Investment $115,000 He bought a $180,000 house For $115,000! $65,000 INSTANT EQUITY!

  3. Harold owns the house • Harold owes $92K on a 1st mtg • Harold owes $41K on a 2nd mtg • Harold sells house to William for $115K, subject to the 1st and by short selling the 2nd, which means William agrees to: • • make payments on the $92K 1st • • pay off 2nd @ $23K on short sale • THE RESULT IS: • William owns the house (subject to the 1st mortgage) • Public Record shows Harold Homeowner stills owes ABC Bank $92K • William agrees to bring $92K • 1st mortgage current and to make Harold’s monthly payments to ABC Bank • 4. William pays off $41K 2nd for $23K SUBJECT TO DEEDHarold Homeowner DEEDWilliam Investor $92K Mortgage to ABC BANKPayor: HHO William makes payments $ 92K 1st + 23K 2nd $115K Total Short SaledRELEASED $41K 2nd Mtg to ABC BANKPayor: HHO

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