All Forum Posts by: Daniel Hart

An execution sale

Edit: I have no legal fear of selling a deed back to a homeowner after I've purchased it legally at a foreclosure auction.

Actually, that's not necessarily the case. I am getting the property through other types of foreclosure that don't necessarily relate to their ability to pay.

I am trying to develop a packet to send to former owners of property that I have purchased at auction. I am giving them an opportunity to buy the deed back from me for a reasonable amount. I will even finance that amount for them.

I was wondering if anyone has any documents or templates that I could work from to get an idea to start with. I am having trouble coming up with enough paperwork to make it look like I am a legitimate operation, and not some scammer. Any ideas?

Wow great info! That is quite possibly what I need!

There is decent equity, but I figured I'd have a hard time getting the info. We don't use title companies here for closings, but rather attorney's, and I assume that they'd have just as hard of a time getting the info as I would.

I can do a title search easily and see who the lender is, that's not a problem, but I picture a lot of unproductive phone calls that will test my patience.

If I can't get it, it's not the end of the world, I have some back up plans, but it would make nice to add another possible exit strategy to the deal.

Hypothetical scenario; owner deeds property to you and doesn't give you any payment details or sign authorization/poa, and you have no way to reach them. how can you keep the payments current?

If I own a junior lien note on a property, and I foreclose on it and take ownership, I can avoid the possibility of the lender calling the loan due.

However, without authorization or a POA from the borrower, it's near impossible to obtain to the payment terms from the lender.

Does anyone know of anyway for a foreclosing lien holder to get that information so that the payments can be continued?

Thanks

Have you seen/used any? I need a 50% LTV loan and I have great credit and good reserves, just no verifiable income.

Should I keep looking?

PM me, I'd be willing to send you some $ to pull reports for me. Thanks :)