Q. When attempting to refinance a property that I bought subject-to, is it possible to refinance the property under the original owner's name without their knowledge, or would I have to bring in a third party whom is willing to refinance it in his name. I'm confused b/c I don't know how much power is held in the letter to the lender stating that a property management company should be contacted for anything related to that loan.


A. The first question that you need to ask is why would you refinance a loan that you took over subject to??? The terms would have to be really bad OR you would need to be in a great equity position so that you could pull some money out to consider financing.


You could not refinance in the previous owners name. That would be unethical and would probably be considered fraud. You could refinance yourself or with caution you may bring in a partner that uses his credit to refinance the deal.


When you change the contact number, contact address and let the mortgage company know that your company is managing the property, all correspondence will begin coming to you and everything usually works out great as long as you make the payments on time.