Hi Derek. Yes, that’s called “Assuming a loan” and usually costs about 1% of the current loan amount. Ask the seller if their Promissory Note has an “Assumption Clause” and if it does, then you may be able to take over their loan. See this video for more info: How to Read a Promissory Note ruclips.net/video/Z-MpltBp8qA/видео.html Hope that helps! - Trevor
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Wow! Thank you so much for the nice words! I’m so glad you like it. Feel free to send questions or requests. - Trevor
Your videos are awesome and the information is invaluable. Many thanks for putting them together!
Glad you like them! Thank you for the comment! - Trevor
This is awesome! Thanks for the dynamic breakdown
Thank you! - Trevor
Is it possible to buy someone’s old interest rate ?
Hi Derek. Yes, that’s called “Assuming a loan” and usually costs about 1% of the current loan amount. Ask the seller if their Promissory Note has an “Assumption Clause” and if it does, then you may be able to take over their loan. See this video for more info: How to Read a Promissory Note
ruclips.net/video/Z-MpltBp8qA/видео.html
Hope that helps!
- Trevor