All Forum Posts by: Account Closed

I did a search on the term "Insurance" in this thread, turns out you are the only using it in the context of a TSG, the other poster uses the term "Assurance", Rick.

 This website makes it sound like the first payment is the difference between sales price and note, forms and withholding filed with FTB by escrow on behalf of buyer, not tax pro.

 I've had the same experience....seems to be the way of modern day American!

You could secure your loan with 2nd position lien (deed of trust) but that, as you suspected, is of little value since there is little (no) equity cushion.  Unless borrower has other property you can use as collateral I'd forget it. 

Let me try that again:

Buy all cash then refi with a hml/pml. Cash is king, you'll get better pricing and don't have to hassle with a loan contingency.

 Buy all cash the refit with a hml/pml.  Cash is king, you'll better pricing and don't have to hassle with a loan contingency.

@Patrick McGowen 

In my state, the foreclosure trustee pays a noticing service to mail first class AND certified return receipt notice to all juniors of the foreclosing senior lien, per statute.  I'm sure the noticing service has very detailed records that would stand up if ever challenged.  Failure to notice junior liens can cause a big problem.  Are you saying the title company organizing the foreclosure is asking the foreclosing lien holder to notice the juniors?

Real Estate Trainers, I have no affiliation other than I did their broker crash years ago and knew the answer to virtually every question on the test.

 Some people really do get hurt and deserve compensation, others are gold diggers.  Insurance is important but there does need to be a balance, imo.  

 The flip side of all this is that if plaintiff knows you have high limits and umbrella, they are less likely to drop or settle.  I know a nurse that goes back and forth about getting medical liability insurance, she doesn't have a lot of assets so why pay thousands of dollars per year to put a bulls-eye on her back.