Walk Away From Your Mortgage. Keep Your Credit Intact.
Little to no equity? Can’t afford to sell? Our takeover mortgage payments service gives low-equity homeowners another practical selling option. We can take over your mortgage payments, reinstate your loan, and give you a clean slate immediately.
North Carolina "Subject-To" Specialists
THE PROBLEM (The "No Equity" Trap)
A takeover mortgage option may help when limited equity makes a traditional sale difficult. If you bought your home recently, refinanced, or have fallen behind on payments, you might owe close to what the house is worth.
The Reality: If you try to sell with a realtor, you have to pay 6% in commissions and closing costs. Our take-over mortgage service offers another option when selling costs leave little equity. This means you would have to pay money out of pocket just to sell your house. Most people can’t afford that.
The FixitMoney Solution: We don’t need you to pay commissions. Our take-over mortgage payments solution helps homeowners explore a sale without paying off the existing loan first. We don’t even need you to pay off the loan. We buy your property “Subject-To” the existing mortgage. This means the loan stays in your name for a while, but we take over the deed and the responsibility for the payments.
BENEFITS TO THE SELLER
Credit Repair
Since the loan is still in your name, every time we pay on time, your credit report shows “Paid as Agreed.” Our take-over mortgage payment arrangement keeps agreed monthly payments moving through the existing loan. It rebuilds your score automatically.
Stops Foreclosure
We pay the arrears (back payments) at closing. Our take over mortgage service addresses the existing loan while back payments are handled at closing. This immediately reinstates the loan and cancels the auction.
Zero Closing Costs
You pay nothing. Our takeover mortgage solution removes seller-paid closing expenses from this specific transaction structure. We pay the closing attorney, the recording fees, and the transfer taxes.
No Repairs
We buy the house As-Is. Our takeover mortgage service also helps homeowners avoid preparing the property for a traditional sale. We take over the maintenance headaches immediately.
Agent vs. FixitMoney
| Line Item | Selling with Agent | FixitMoney Takeover |
|---|---|---|
| Sale Price | $250,000 | $240,000 (Loan Balance) |
| Mortgage Payoff | -$240,000 | (We take it over) |
| Commissions (6%) | -$15,000 | **$0** |
| Closing Costs (2%) | -$5,000 | **$0** |
| Final Result | You PAY $10,000 | You Pay NOTHING |
HOW IT WORKS
The Agreement
We agree on a price (usually the mortgage balance). This explains how to take over a mortgage through clearly agreed-upon purchase terms before the property closes. We sign a Purchase Agreement just like a standard sale.
The Transfer
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We close with a real estate attorney. Our takeover mortgage process transfers ownership at closing while the existing mortgage stays in place. The Deed is transferred to FixitMoney. You no longer own the house.
The Payments
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The mortgage stays in place. With our take-over mortgage payments service, FixitMoney assumes responsibility for making the agreed monthly payments. We make the monthly payments directly to the lender. Your credit gets the benefit.
The Master-in-Equity is Scheduling Hearings Now.
Our takeover mortgage service gives qualifying homeowners another solution to consider before the scheduled court date. Don’t wait for the court date. Let’s find a solution today.
Frequently Asked Questions
We believe in 100% transparency. Our takeover mortgage process is explained clearly so homeowners can understand the arrangement before making a decision. Here are honest answers to the most common questions we get.
Is this legal?
Yes. Buying a property “Subject-To” the existing mortgage is a standard real estate transaction. For homeowners asking Can you take over someone’s mortgage, our process includes an attorney-handled property closing. We use a North Carolina real estate attorney to prepare the deed and handle the closing properly.
What about the "Due on Sale" clause?
Most mortgages have a clause allowing the bank to call the loan due if ownership transfers. That clause is an important part of how to take over a mortgage when the existing loan remains in place. While this is a risk, it is historically rare for banks to call a performing loan. We discuss this risk openly with you.
What if you stop paying?
We sign a performance deed or similar instrument. Our takeover mortgage agreement includes written protections connected with the ongoing payment responsibilities. If we ever default, the property can revert to you, usually in better condition than you left it. Your security is the property itself.