THE SUBJECT-TO

This could be one of your best options.  Let's discuss this option you, the homeowners, will convey the property to me by Warranty Deed or Quitclaim Deed.  In exchange, I agree to pay the arrearages to bring the mortgage current and make the monthly mortgage payments until the property is sold or refinanced, whichever comes first.  We will file the deed at the courthouse to protect our interest.  We will pay you an agreed upon amount of consideration when the property is deeded to us and then we will discuss a date for you to vacate the premises.  The objective of this method is for us to take over the existing loan, bring the payments current, keep them current for the length of our agreement, and therefore relieving you of the monthly debt..(read more)