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All Forum Posts by: Earl G.

Earl G. has started 2 posts and replied 18 times.

Post: Non-Performing Note - VA Loan

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2
Originally posted by @Bob Malecki:

I would make sure that there is a copy of that lost note so you can review it in your DD processes. Since the borrower is a veteran, you should check on any potential issues with foreclosing on a veteran since they seem to be a sort of "protected class" when it comes to foreclosure. Hopefully another BP contributor can shed more light on this aspect. 

Bob

Thanks Bob.  I'll look into those two items a little further.

Post: Non-Performing Note - VA Loan

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

I'm a new investor and am working toward my first non-performing note deal, but of course it's not straight forward. The numbers work for me and I'm working through my due diligence, but I won't be speaking with my attorney until tomorrow. Any help on the items below would be greatly appreciated.

Property is in Florida, 1st Position

1. Are there any additional due diligence items associated with a VA Loan originated in 1990?

2. The original Note was lost, but the Collateral File includes an Affidavit for the lost note that seems to create a complete the history. Are there any additional due diligence items I should pursue in this situation?

I'm working on the due diligence items I would consider more typical such as payment history, Title work, BPO, taxes, etc.  

Thank you so much for this post.  It's really added some context to the volumes of information I've been trying to consume.  I might be as eager as you to hear the end of the story.

Post: Wholesale Deal but Lien issues

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

I don't have direct experience, but this has been frequently mentioned at our local investor group.  They seem to be having some luck negotiating a reduction with the municipality, but I don't have many details.  Perhaps somebody can provide some additional details regarding necessary authorizations from the Homeowner or negotiating techniques with the municipality.  Good luck!

Post: New Member - Florida

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

Thanks @Account Closed.  I'll be sure to contact @Andrew Davis. Winter Park is nearby.  

Thanks to everyone else for the positive words.

Post: New Member - Florida

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

Excellent suggestion.  I just subscribed.

Post: New Member - Florida

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

Thanks!

Post: New Member - Florida

Earl G.Posted
  • Orlando, FL
  • Posts 18
  • Votes 2

My name’s Earl Green and I’m in the Central Florida area.

I am primarily interested in tax deeds and non-performing notes, but I'm just getting started. I’ve bounced around the site for a week or so and the wealth of knowledge is incredible. Thank you to everyone that has contributed. I hope to be able to do the same soon.

Cheers!