MichaelC 160 Report post Posted February 20, 2004 How do you explain this to a seller?terateam, I'll repeat my post from earlier in this thread: "I don't make a point of telling a homeowner that a lease or a lease purchase may cause the lender to call in the loan. Not to be deceitful, but because I have never seen it happen personally. It is such a remote possibility in my experience that I don't consider it when doing a deal. I also have my doubts as to whether or not a lender has the legal right to do so as a matter of routine procedure. Unless a mortgage has written into the agreement that leasing the property will make the loan due and payable immediately, I can't see why the DOS will kick in. In the real world, (and that is where I sometimes like to reside ), if a lender is receiving their payment each month they are not interested in upsetting the cash cow that is that loan with those interest payments. On the other hand, if a homeowner specifically asked me about the DOS, my reply would be to tell them to read the agreement and terms of their mortgage." Share this post Link to post Share on other sites
