Questions people ask us (including the hard ones)

It means we buy your house and you sign the deed over to us, but your mortgage is not paid off at closing. The loan stays in place and we make the monthly payments from then on. It's not a refinance, and it's not a loan assumption unless your lender approves one in writing.

Usually, yes. The lender doesn't approve us as the new borrower, so the loan stays in your name until it's paid off or refinanced. That's the most important thing to understand, and it's why you should be able to check every payment yourself.

Yes, it can. Most mortgages have a due-on-sale clause that lets the lender ask for the full balance after the house is sold. Nobody can promise it won't happen, so your contract should say in writing what we'll do if it does, such as refinance, sell, or pay off the loan within a set time.

On-time payments keep reporting on your credit as your loan. A late payment would hurt it, which is why you should be able to verify each payment. Because the loan still counts as your debt, it may also affect your ability to get a new mortgage for a while.

Before closing, you'll get a written plan for how payments are made and how you can check them. That can include statements from a licensed third-party loan servicing company, read-only access to the loan account, or monthly proof of payment. You'll also get written notice if a payment is ever late.

Sometimes. It depends on how much you owe, what the house is worth, and what it needs. Many payment-takeover sales involve little or no cash to the seller, because the main benefit is getting the payment off your plate. Any cash to you will be written into the offer.

Often, yes. If you're behind, the missed payments and fees usually have to be caught up at or after closing, and we'll factor that into the plan. Please also call your lender and a HUD-approved housing counselor, because they may have options for you too.

No. We're not a foreclosure-rescue service, and filling out our form doesn't pause or delay anything. If selling to us is a good fit, closing before the sale date can resolve the foreclosure, and Florida's special rules for selling a home in foreclosure to an investor apply.

No. There's no cost and no obligation to find out if your house is a fit. We never charge sellers upfront fees. Closing costs and who pays them are spelled out in the written contract.

Tell us about it on the form. A second loan doesn't rule you out, but it changes the math. We may take over both payments, pay one off at closing, or tell you this isn't the right fit.

That's fine. We buy houses as they are, and you don't have to make repairs or clean up. The condition of the house does affect the price and plan, so we'll look at it before making an offer.

Once you sell, the house is no longer your homestead, so your homestead exemption and Save Our Homes cap end for that property. The property can be reassessed the next January 1, and our plan accounts for the higher tax bill. If you buy another Florida home, you may be able to apply for homestead there.

Every purchase closes through a licensed Florida title company or real estate attorney. They search the title, prepare and record the documents, and handle the money. You're welcome to have your own attorney review everything first.

Your contract should spell out exactly what happens if we miss a payment, including how fast you'll be told and what rights you have. Ask your attorney to review those terms before you sign. You should also be able to see every payment, so a problem can't stay hidden.

Not yet. We buy in Florida only for now. If you're in another state, you can still leave your info and we'll reach out if we expand there.

No More House Payments is run by RFTA Properties, LLC, a Florida real estate investment company owned by Billy Ross. We buy houses for our own account.