All Forum Posts by: Varinder Kumar

@Joe Splitrock 

They did not know they owed until they wen through this situation. Better knowing now than later i guess in either case scenario. 

@Harjeet Bhatti

thank you! for clarifying. So basically I spoke to them and it seems the best thing for them to do is to back out of escrow and not sell the home-which they already did. And to rent out 2 of the 4 bedrooms they have and create a payment plan with the debt collector. The money from rental will pay for the monthly on the debt and maybe put some in their pocket. 

hahahahaha LOL

@Gary Kane

PM me. I am offering investment opportunities to people with SDIRA's. I invest in notes.

@Harjeet Bhatti 

Please elaborate on lender hitting her payment with 5% total collection amount? thanks

@Harjeet Bhatti its more than $2000 The bill is for her who is the seller of the property. If she pays off the debt she will not have down payment for the other home she is going to move into. They were told to seek a bankruptcy attorney but wanted to know if there are other ways in staying in their home even though they dont own it or get a little money from it. any suggestions what what options she may have? I am thinking she may have to get a loan to pay off the debt and stay in current home and not move. or get a heloc or second on the current home and pay off the debt with it and stay in current home. Can she cancel contract or back out of escrow? 

@Christie Gahan the bill is for her who is the seller of the property. If she pays off the debt she will not have down payment for the other home she is going to move into. They were told to seek a bankruptcy attorney but wanted to know if there are other ways in staying in their home even though they dont own it or get a little money from it. any suggestions what what options she may have? I am thinking she may have to get a loan to pay off the debt and stay in current home and not move. or get a heloc or second on the current home and pay off the debt with it and stay in current home. Can she cancel contract or back out of escrow? 

My friend has a home in escrow and there is an issue regarding an outstanding medical bill. What issues can arise from something like this in escrow? I dont have much info trying to get more info from them on it. But i  wanted to reach to my BP community to get the convo started. Please let me know if there is anything hurdles that out standing medical bills can create when home is in escrow. Thanks

@James W. trusted note seller, title search, taxes search. 

@Joshua Howaniec

Either attorney or servicer can play the middle man in negotiation. You can reach out to them your self also. I believe serivcer will facilitate the terms for you. And its really what makes sense for you investment. So you should have you terms etc already played out in mind prior to purchasing note, terms, interest rate, down payment etc. 

@Account Closed

scenarios i mentioned previously are the special considerations you need to keep in mind. just have to double check everything. Title search etc.