All Forum Posts by: Robert Howell

@Larry Smet

Haven't connected with them yet. I will try to let them know.

@Larry Smet

Sorry for the late reply. I wasn't sure if I would be back from the States in time for the meeting, but I will be able to make it.

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@Robyn J. Why do you prefer Toledo over Akron?

@Duke Marquisscurious, what counties in Ohio do you stay away from?

@Desi Arnaz

Enough with the form letters!!  You've sent out the same copy to about twenty people in the last half hour. You're clogging my key word inbox. If you have something worthwhile to say then please fee, but there must be a better way to promote yourself!

Edit: They have moved their entire portfolio to an institutional buyer. So maybe they're just taking a break. :)

@Jonathan Napper.  I have had success and not so much success with FCI. It comes down to your own due diligence. It doesn't matter where the note comes from. You are solely responsible for what you buy.

I plan on using FCI to sell some of my notes. But remember, FCI only facilitates the sale, there are a lot of sharks in this business. Both good and bad have access to their site.

I have had success with Granite but Granite is no longer in the note selling business.

I do not mean to paint this fund with a totally black brush. The intent of this post was to realize my liability, good or bad, in this matter.

I  purchased a very small number of low value, performing notes, some have issues and two of them turned out to be non performing. The fund did reimburse me for those two.

@Dion DePaoli  

I have been in contact with the previous defaulted owner and I will look closely at your suggestion.

The Seller and the fund are one and the same. 

BTW, you are thinking correctly.

To clarify, I am the note holder and both of you are right. The property was not conveyed to the borrower correctly. The old owner is getting tax bills even though she signed a Deed in Lieu. 

I's a real mess. My concern is, as the current holder of the note, am I responsible for the fact the fund did not pay the taxes on closing the sale of the real property. I am currently trying to assist the homeowner in getting the fund to make good on the transfer of the property and the payment of the presale taxes.