Real estate question. I need some feedback on the idea of assignment of mortgage payments?
A gentleman name Phil Grove, from Texas, is marketing a program (called “amps” for short) where he teaches the students who buy his program how to match individuals who can’t sell their home (there is a particular reason why that I cannot remember) with others who want to buy but can’t get a loan from the bank. In the process of finding and fiacilitating these deals his students make a hefty fee per deal. Is it ok to do such deals without the banks involvement? Have you heard of this before. Is it a new twist on an old idea? Hopefully, I can hear from someone who is familiar with Mr. Grove’s system or else someone who understands this tactic.