Biggest Misconceptions Uneducated Note Investors Have

[Don Konipol]

In my experience, here are the misconceptions uneducated and inexperienced note investors possess

1. Thinking the 1st lien note holder needs to pay off their 2nd lien note if the 1st lien forecloses

2. Thinking the foreclosure process is similar to repossessing a car and if a payment is missed they can “just take over” the property

3. Not understanding that through TROs, bankruptcy filing, and state foreclosure laws a defaulting borrower can tie up a property from 18 months - 4 years WITHOUT making a payment

4. Thinking that as note holder they “own” the property until the note is paid in full

5. Not knowing the difference between judicial and non judicial foreclosure

6. If holding a residential note not understanding Dodd Frank or compliance with the CFPB as per origination and ongoing 

7. Not having any idea as to the potential expense involved in foreclosing especially if the borrower file a bk

8. Believing that making a non performing note into a re performing note is easy

9. Believing that BPOs are all accurate at to market value

10. Not understanding the amount of damage to a property an occupant can cause when his interest is being foreclosed on. 

Let me know your thoughts and experiences with this,

[Don Konipol]

Here’s my Favorite

That Don Konipol, @Chris Seveney, and @Jay Hinrichs don’t know what they’re talking about but the paid actor with no experience hired as the front man guru by the real estate “education” marketer operating out of Las Vegas charging $40,000 for the “platinum” level mentorship is providing not only correct information but all the education anyone needs to successfully quit their job and earn financial freedom by brokering mortgage notes.