All Forum Posts by: Scott Robinson

Has anyone had any success negotiating a lowered payoff for a medicare lien on a property headed for foreclosure auction?  My seller is on hospice and her old house is scheduled for lender auction soon but comes with a substantial medicare lien.  From what I'm reading the medicare lien will be wiped out after the foreclosure, so I'm wondering if medicare will negotiate with us.  Has anyone done this before?

Quote from @Susan V.:

I cannot recommend them

Was there something else you discovered in your process?  I recently came across their name as well and am curious to hear more.  I was quoted 6% for 30 yrs on $500k purchase w/ $200k repairs 85% LTV, so I can purchase 12 units in south Texas.  My antennae is up...

Hi! I'm an investor in North Texas, the DFW area, but spend the month of July in MA and I'd like to start working deals up there. I do a lot of inherited properties in Texas using an affidavit of heirship to avoid probate. Does MA allow for changing title the same way or is there an alternative to probate I should be investigating? Thanks for your help!

I am learning so much this week!  @Davido Davido, I have been trying, unsuccessfully, to talk with someone at Citimortgage who has the power to sell a note, I spoke to Cenlar, the servicing company, and the only managers I could speak to said "no, we wont do that".  In regards to your thoughts on doing repairs and filing a lien, do I have this right: I speak to the 50% owner and get her to contract me to do repairs on the property and I file a lien on the property for those repairs.  Then I threaten foreclosure of the lien on any parties not willing to sign a deed in lieu.  The 50% owner would certainly sign and then I am just dealing with the other heirs.  Is that the general idea?  It seems like a pretty hostile move, but it could certainly be a solution.

@Jerel Ehlert, looks like I may have spoke to soon.  According to the spouse, the property was redeeded when they refinanced 5 years ago, but I have not been able to verify that with the county clerk yet.  I was able to make contact with one of the additional heirs and he is willing to sell, I am meeting him at the property today.  If the spouse is correct, then I could possibly purchase her 1/2 and 1/6 from this new heir giving me 2/3 of the property.

Thanks @Greg H.  This is certainly a murky and risky en devour but there is $100k in equity or more even so if I can make this work it would certainly be worth it.

@Joe Splitrock, great advice!

@Jerel Ehlert, to make this a little more convoluted: H bought the property with his 1st wife and paid it off, they divorced and he remarried most recent W. They then refinanced the property. Since Texas is a community property state I thought the property becomes "theirs" at that point? So, if Sub2 can't work I am left paying off the balance of the loan and purchasing her interest. I've been told that in some states if the spouse is NOT on the deed then the heirs would get 2/3 and spouse would get 1/3. If that is the case in Texas I would be buying a minority share which doesn't make a whole lot of sense I don't think.

Thanks for the insight!

@Lydia R. the husband died with no will.  I have left VM and FB messages for the kids but they wont call me back. @Theresa Harris I think if I buy the mom's interest though that may change their tune.  I don't want to take legal action of course, I would much rather just buy them out.

Wow, thanks everyone for the feedback.  This has the potential to be a great long term property for us if I can make it work.  @Davido Davido, I have been thinking the same thing, buy her portion on the property and I actually want to take this one sub2.  Pay the seller her spent legal fees, $1k, the arrears, $6k, and move forward.  Seller gets what she wants and I get a fantastic deal (@Lien Vuong).  I am waiting a call back from my attorney to review this with him too.

@Davido Davido, buying her portion and renting the property out sounds great, but wouldnt the heirs have a right to some of that rental income?  Also, the property needs a lot of work before it will be livable again.  Does that throw a wrench into it?

I really appreciate all the input, thanks!

I am trying to help a seller who is being held hostage by step-children.  The owner's husband had 3 kids and owned the house before they got married, but they refinanced the house together after they married.  Now that the husband has passed no one is paying the mortgage at this time, the wife wants to sell but the kids wont sign off or help her with the mortgage.  Taxes and insurance are escrowed, so my question is this:

If the seller called and requested to stop the escrow payments could she?  If so, could I then step in and buy the property for what is owed on the taxes?  Or is there a better way to help this seller with her situation?

Thanks!

I am working with an owner who wants to sell the house she and her deceased husband owned in Texas. Problem is her husband had 3 kids before they got married and they aren't letting her sell.  There is an existing note on the house from when the couple refinanced 15 years ago that is now in default (200 days).  The owner does not have the money to pay the note and the kids will not help pay and wont sign for her to sell.

Ive been told to sue for a partition of suit, but I'd like to find another way... if there is one.

Thanks everyone!