All Forum Posts by: John Husband

Did some reading online.  It seems like it's legal to rent while you are attempting to work things out with the mortgage company.  Ideally I'd like to bring the first mortgage current if the property isn't upside down.  Otherwise I'd like to refinance my way into a clean property.  Any thoughts?

I forgot how much I hate being a landlord.  Thank you for the reminder.

Florida Palm Beach County

A friend and I are buying junior lien foreclosures taking the property subject to the existing mortgage, what are the strategies in dealing with the mortgage assuming the property is not upside down and we do not have owner cooperation.

Best regards,

-John 

BTW I'm not sure I followed all the posting rules.  So if this isn't appropriate here let me know.  I did take my phone number of the post :-)

Hi All,

I have great credit and my net worth is about 500K but much of it is tied up on a 401k or appreciated stock that I'd rather not sell due to taxation issues.  Are there lenders out there that will give me the cash I need to close on a foreclosure auction?  Hard money lenders seem to want a bit more time to do their due diligence.  My county requires 5% upfront to bid and to close in 2 days if you win the auction. 

How do I find the right people?

Thanks,

-John of West Palm Beach, FL