All Forum Posts by: Bobby R.

What's UPB?
I was thinking 1) it's a good deal to purchase a $200K+ note for just over $100K.
But also thinking 2) it's not a good deal because the house wouldn't appraise to refi the loan, which may make walking away easy. But the note holder will get the house.
I think too much...

One of my yellow letters went to an owner where it's listed w/ an agent (he called me). The sellers want what the house comps for, let's say $100K. There's a buyer already in the house buying on land contract that doesn't expire. They balance on their loan to the seller is over $200K, six years into a 40 year mortgage. This land contract doesn't expire according to the agent and they buyers in the house can't refi due to the comps.
How do I flip this house or note? Sellers owe only $12K; they just want out.

There was a sad, sad situation recently in a neighboring subdivision. Husband/father started a fire on the roof of the house and murdered everyone inside. Now, the house is boarded, except for the upstairs, where rain/weather opened to second floor to the elements. The roof is totally gone now and the second floor is exposed to the elements.
We see this house nearly every day. The subdivision is a newer development w/ new houses still being built for $300K, give or take $10-20K for size/features.
I would imagine the neighbors who live on this cul-de-sac would like to see this house fixed up; the neighbors in the development would want this house repaired for property value/affect on sales.

Who would I talk to about this house? It's still "owned" by the deceased owners according to city tax records. Would the bank take back this house?

Hello, newbie on this site.

I put up bandit signs and have a Google voice account for the phone to ring. I will be hiring a VA and plan on forwarding the voice mail messages to the VA.

What's the best way for the VA to make outbound calls if I want the caller ID number to show the local area code?

Thanks