In buying a property, it usually would have existing financing on it already. This loan should be paid off when purchasing the property. But, there are exemptions to this rule.
There are certain ways to plan your estate to be able to get rid of property easily and avoid the hassle of new bank loans. Instead, the buyer can take over the seller loan. This is something discussed in Lou Brown’s new Wealth Builders Workshop. This is a one-day event that covers 40 years of experience and lessons from Lou.
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Hi! It’s Lou Brown. I wanted to let you know that there’s an amazing opportunity that many people have that if you go one more step in purchasing a property, often you find that there’s existing financing on the property. Now, what you may know is that there’s a due upon sale clause in most mortgages. And that means that when the property sells, you have to pay that loan off. However, there are exceptions to that rule and that is when someone places their property in trust for estate planning purposes, the lender is prohibited from calling the loan due. I want to share with you that there’s a certain way to do that. There’s a certain way that you can help the seller to plan their estate, to be able to get rid of their property quickly, easily, and not have to go through the pain and suffering and expense of a traditional new bank loan.
Simply by taking over existing financing. Now we can bless the seller in many cases. When they have fallen behind on the mortgage, they’ve gotten themselves in a situation where the property might be foreclosed and their credit devastated for 10 years. That can be avoided. Imagine this. Sometimes we step into a deal we’re able to take over the existing financing, pay the back payments. Reinstate that loan. Make the payments. Helps the seller’s credit. Helps them build credit instead of devastate their credit for the next 10 years. It’s a blessing that we bring to the table. I call it, Doing Good While Doing Well. We definitely can help our sellers. We can help our buyers. We can help our lenders.
There’s so many things I want to share with you. We have an upcoming workshop. It’s a full day. I’m going to share with you soup to nuts, many things that I’ve learned in my business. And in fact, I’ve got a book it’s called Buy, Hold, Sell. It’s loaded with all of my secrets. You can even get an advanced copy before we have the workshop. And you’ll be able to follow along with me because I’m going to use that as a foundation of my training. And you’re going to have a lot of great information take away from this event. Now I’m making this available. Believe it or not. Absolutely free! You can join me for the full day. I do recommend that you’re there for the full day, because I’m going to be building one thing on top of the other on top of the other. I want you to have the opportunity to take advantage of this great information.
I’ve been in this business for over 40 years. I’ve learned that there’s some amazing things that we can do in real estate that most people have no clue about. So certainly if I can help you, if I can help your family and I can help you learn to help the people, the sellers and the buyers that you’re working with, then it’s a definite win, win, win, win all the way around. So I look forward to seeing you at the workshop. Wealth Builder Workshop. Information’s right here on the page. And definitely get registered for that. And I’ll see you there. Yeah, baby!