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Updated almost 16 years ago on . Most recent reply

Ingrid Nagy's profile image
Ingrid Nagy's profile image
Ingrid Nagy
  • Property Manager
  • from Passaic, New Jersey
  • Member since Jun 9, 2008
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Ingrid Nagy's profile image
Ingrid Nagy's profile image
Ingrid Nagy
  • Property Manager
  • from Passaic, New Jersey
  • Member since Jun 9, 2008
Connect
Ingrid Nagy
  • Property Manager
  • Passaic, NJ
81
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369
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Tax Liens & Mortgage Notes

Toxic Mortgages

Ingrid Nagy
  • Property Manager
  • Passaic, NJ
Posted

I have a friend who just started buying up "toxic mortgages" - delinquent mortgages from various lenders at a deeply discounted rate. He now is assuming the rights of the "bank" and proceeding with foreclosures. Most are commercial properties and he must advance taxes and insurance on them. Does anyone have experience in this? He'd like me to assist him with setting up billing statements to continue billing as the lender. Other than taxes, insurance, etc. are their any other items that might be advanced by the lender?

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