All Forum Posts by: Eran Lifshitz

Thank you @Dan Deppen.

@Ilidio Cardoso - I think you missed the point here in my question.

There is no bank involved here...We are the bank as we own the note.

Thanks @Bruce Lynn & @Michael Hakes, it makes sense.

Thanks for pointing this out, @Stanley Nguyen.

I will check this issue.

I did not sign up in their portal, I filled registration forms and sent them via e-mail.

Have you tried that?

It is a good pint @Bruce Lynn, thanks.

And then who did pay of this diff? The servicer?

Thanks @Dan Deppen

As far as I know, usually servicer doesn't pay anything out of his pocket unless he has cash in his escrow account.

Have you ever saw a case in which they did pay out of their pocket?

@Andy Mirza great response, you took the words out of my mouth...

In general county tax lien or HOA lien has priority over mortgage lien.

Therefore you should do 2 things - 

Adjust your purchase price to reflect those liens and reduce them from your offer

Once you buy the note, pay and remove those lien in order to prevent them from increasing due to penalties and fees

The important tip I can give is always check yourself in the county website to see the current status of taxes balance.

I saw a lot of examples for unexpected 'surprises' you find in easy and simple search which can turn your analysis and assumptions upside down.

Good luck!

I have an unclear issue and hope you can help me to clear it up.

I have saw few examples in tapes of assets which has negative escrow balance.

How can escrow balance be negative?

If the escrow has positive balance it pay the taxes and insurance, and if it has no balance it just don't pay, isn't it?

Does the negative balance indicate that there is a unpaid taxes debt to the county (meaning, if I see debt in the county account it should be referring to the same debt)?

@David M Rudd

@David M RuddFirst of all good luck with your new way! I think you choose correctly going into this investment segment.

Regarding servicers - I have tried few, and the best in my opinion is Madison.

If you would like me to share my direct contact with you please send me PM and I will be happy to assist.

Eran

@Brad Warshaw

In continue to what Chris said, indeed there are few sites which you can either get tapes from or log into them and see their notes inventory.

If you would like me to let you know with which sites I work with send me PM and I will be happy to share.

Eran

Wow...Well done Brandon!

Indeed you reached a major milestone.

This is truly inspiring, and you idea of posting it in the starting out section is excellent.

Good luck and waiting to hear when you reach 200...

Eran