All Forum Posts by: Bryan Hartlen

Non-performing note (or loan).

Hi. Jonathon (and others)... we have 3 NPN's in Birmingham. Look forward to connecting.

As a follow-on question for those that leverage vendors:  Who do you use for your O&Es?  We use ProTitle but we're always looking for options.

Joe, as long as you can cover the 1st position loan, I would think that you already have the option to pay-off the 1st.  1st position is only entitlied to the value of their loan.  Anything above that goes to your 2nd.  If you're willing and able to pay them off then your 2nd would be in first position. Typically they'd prefer to get paid off and avoid foreclosure.  

It all depends on what you pay for the note and how much spread you have between the note price and the as-is price for the property. Rural will most likely take longer to sell but at the right price it'll sell.