Believe it or not you can buy homes without obtaining a mortgage or loan. You can buy homes without having to have a good credit rating. Using one simple technique called "subject to" you can buy a home without using your credit and without having to get a loan.
What does "subject to" mean? A "subject to" real estate deal is where a person buys a home "subject to" the existing loan. For example if a seller has a home for sale priced at $ 100,000 and there mortgage is $ 98,000, you can buy the home "subject to" the existing loan.
How do you find sellers who will sell "subject to"? First you need to find sellers who need to sell their home fast. This could be due to divorce, a death in the family or some financial hardship. You can ask a real estate agent for expired listings or listings that are several months old. These sellers are usually itching to sell.
Once you find a seller who is desperate to sell you will need to explain what a "subject to" deal is. Basically you need to explain to the seller that you will pay their mortgage payment. Actually you can pay the mortgage using the coupon book or you can pay them and then they pay their mortgage payment. There are several aspects of a "subject to" deal that requires a real estate attorney. To increase your chances of doing a "subject to" real estate deal you will need to find a real estate agent and real estate attorney who has completed "subject to" deals.
If you are serious about buying a home via a "subject to", I recommend find a couple of real estate investment books on the subject. Get familiar with the language of the deal so that you are comfortable with this type of real estate transaction.
If you want to buy real estate using other people's credit then learn how to master the "subject to" real estate transaction.