Real estate for sale in southern California communities. Cheryl Gollnick, Real Estate Broker

We Take Over Loans

This is a program where the seller allows the buyer to purchase their property by taking over the existing loans on the property in exchange for ownership of the property.

This is not considered a short sale so the lender’s approval is not needed.

We buy properties like this and we catch up back payments on the loans, pay all costs and give the seller money to move on. When a property owner sells to us it will be recorded as a cash sale, not a short sale.

In this transaction we are not asking the lender to allow the seller to sell the property to us, with the lender taking a loss on their loan. We pay the lender everything that is owed to them on their loan.

These are the benefits:   

  • We can catch up back payments on the loans
  • We can pay closing and transfer costs
  • We can pay property tax arrears
  • We can pay HOA arrears if any
  • We can pay you cash at closing – even if you owe more than the property is worth or have already moved out (as long as the title is still in your name)
  • We can pay you part of your equity if the property has equity in it
  • We will not require you to make repairs to the home as we will buy it as-is
  • We may do a property inspection but this will be paid for by us and will be for our purpose only to assess any repair cost we will have for the property once we take over the property
  • We can close when you need to if you are still living in the property but remember that each month longer that you remain, the monthly payment we will have to pay your lender will decrease the amount of money you will receive at closing

This transaction saves anyone from foreclosure and allows a homeowner to move on, knowing that the loan is reinstated and their credit will show the loan current again. In fact, as the buyer pays the monthly payments until they refinance the loan in their own name, your credit profiles will show the payments are current and your credit scores should increase (as long as you have no other credit issues besides the mortgage loans).

If this type of transaction can help you then please contact us. Your information will remain confidential. We do not want to list your home for sale. We want to make you an offer to buy it. What do you have to lose by getting information that may just help you out of your current situation!!

When you contact us, please have the information on your principal loan balance (1st & 2nd loans) and the amounts you owe for back payments on the loans, property taxes and HOA fees. We will need to know the monthly payments and if the first loan includes taxes and insurance. Plus, we will need to know how much time you will need to move. Once we know all the information we can give you the amount of cash that you will receive at closing.

Please fill out the "Contact Us" form on the left panel or call Cheryl Gollnick direct at (951) 306-0001 so we can help you. 

CA BRE Lic. #01117664