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206: The Hidden Risks of “Subject To” Real Estate w/Eddie Speed
On The Market
Understanding Subject To in Creative Finance
Subject to, often shortened as sub two, refers to taking title to a property while leaving the existing mortgage in place. Unlike assuming a mortgage where the original borrower is removed, in a subject to scenario, the original borrower remains on the mortgage, but the new person takes over the payments. Although not legally liable, the new individual is aware that failure to pay could result in losing their interest in the property. This strategy is used to benefit from low-interest rate mortgages without assuming the debt entirely or going for a more expensive mortgage.
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