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All Forum Posts by: Jk Cho

Jk Cho has started 2 posts and replied 3 times.

Post: locating leads by using title companies

Jk ChoPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 3
  • Votes 0

I have talked to bunch of title companies in my county. And they all say the same thing; they have no such an special access and they too use outsourcing companies to get the information.

Post: Sub2, delinquent amount included in Loan Balance?

Jk ChoPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 3
  • Votes 0

Hi I'm a newbie investor and I have a basic question about sub2 transaction.

My seller said her current mortgage balance is about 480,000. And according to the NOD, the delinquent amount (i guess this is a foreclosure cure cost) was about 20,000. Is this 20,000 included in the current loan balance or is it separate? My guess is 480,000 doesn't include 20,000.

600,000 (estimated market value)

-480,000 (current outstanding loan balance)

-20,000 (delinquent amount)

= 100,000 (this should be room that would cover my seller's equity, repairs, my equity, holding & closing costs, and others)

is my understanding correct? Please give me your thoughts and any advice on this. Thanks :)

Post: locating leads by using title companies

Jk ChoPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 3
  • Votes 0

Hello, I am a beginner investor and first want to say thank you all of the experienced investors here. I have been learning so much from you guys.

I have a question about generating a pre-foreclsoure marketing list using title companies. If I approach one of those national title companies, do they actually provide a NOD or pre-NOD list? If they do, can I get access by simply asking them for it?

I have been running to airport courthouse which is 20 mins away from my crib. It's not bad but I have been looking for another effective way to generate leads. Please give me your thoughts. Thanks.