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Lease take over


hazard
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Hi,

Does anyone have experiance with taking over someones lease.

I have read web site where lease holders are trying to get out of their leases; the offers look good.

But one does have to be approved by the current lease holder.

So my question is how tough is that? Does the current lease holder make consessions due to the leasees troubles?

 

Thanks

 

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I have not done it personally, but from what I have read, the person taking over the lease would have to qualify as if they were initiating a lease themselves. I am always leery of those deals because in a lot of cases the people are in bad leases from a financial perspective (poor money factors, bad residuals, etc)

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