All Forum Posts by: Larry Humphreys

Becky,

Sorry your question got side-tracked. One other way to find the loan servicer is at http://www.mersinc.org/homeowners/index.htm

If the loan was registered at MERS then they'll have the loan servicer info.

Hope this helps...

Stupid, Dead Mule.

Eric,

Do you ever go to Las Vegas? Try this instead.

It actually happens everyday in the USA. It takes much more research than a normal foreclosure. If you spend $10K making the house rentable you'd probably be in the black after 1 year. You don't have to wait for it to go into foreclosure. I mentioned that because if there is an owner, he'd probably think the house went to auction and not bother with it again. There are thousands of properties which are abandoned in every state. This is not illegal or a scam. The government instituted adverse possession to make sure property is used for it's intended, productive purpose. Any neighbors would appreciate someone rehabbing an ugly house and making it useful. Yes, for most people this would be stupid, but it does happen alot more than people realize.

So instead of throwing you money away in Vegas (really stupid!), find an abandoned house.

Or, you could watch for the house to go into foreclosure and then reinstate the loan. Make the house rentable and rent it month-to-month for 10 years. Then file suit on the owner to quiet the title and it's your free and clear. Also, don't forget to bring the taxes current.

Crazy? Yes, but....

Ryan,

I was thinking about buying time to complete an equity buyout. Assuming there was some equity.

Have you had any success doing jr. bene buyouts? Is it a good play in Texas?

Thanks,
larry

Thanks Ryan.

So the earliest an investor can discover the notice is 21 days before the sale?
If so, what good would a foreclosure listing service do? Wouldn't the info be stale before investors see it? Guess we have to go to the courthouse. Do you find you have time to really research the liens sufficiently?

Thanks again,
Larry

Can't you buy some time with an emergency petition for bankruptcy, make a deal and then cancel the petition?

I've looked at the official public records in Travis and Bastrop counties, but can't find any NODs. Aren't these supposed to be posted by the county? They don't show up in the Austin Chronicle either, just tax foreclosures.

Has anyone here taken any foreclosure training from Ward Hanigan. He runs a foreclosure forum in San Diego. All the folks on his forum speak very highly of his 3-day training program. I was hoping to get some feedback outside of his forum.
Thanks,
larry