All Forum Posts by: Marc Walowitz

Allow to explain, notes are to me however not foreclosure prevention. 
I represent to current borrower their broker however the non-profit I am with is involved with the foreclosure prevention. 

 thank you for your interest. This particular note is in Fairfield, appraised at approx 470k.

Second will settle at approx 10% of 65k. Taxes current by 1st.  Borrower interested in an re amortized loan, they qualify.  We have other notes and short sales in CT & FL.  More details can be disclosured once a non disclosure, non compete is signed.  P.O.F. must also be provided.  We are looking at this as a foreclosure prevention matter.  Our fee, to be paid by buyer, is 3%. 1st stated they will entertain a note sale and asked for offer and noted quick decision.

Want to flip the note. Could possibly obtain note from the small bank that currently has it. The 2nd lien holder said the debt could be settled for 10% for what its worth. 

I am new to note world. My question is how would I propose this to a potential investor because this is a delinquent mortgage?

If the note were to be rewritten they could start making payments again. There is a law day in place for a strict foreclosure proceeding coming up. If able to find someone else to take over their note and possibly modify it then there would be no need for short sale.

make sense?

Before attempting a short sale, want to keep people in their home. 

Distressed note with a second mortgage that can be settled at 10%. Any suggestions on how to proceed?

Upper Floor North Face Large 1 br/ 1.5 ba updated, maintained, clean unit for sale.
Laminate floors throughout, carpet in bedroom.
Full bath with walk-in shower. Walk through galley kitchen.

Unit can be purchased furnished or unfurnished. Furnished as is with exception of several items plus personal belongings.
Doorman building - Garage Parking - Storage Unit -Washer/Dryers - Pool - Clubhouse - Exercise Room - Social Room - Library
Owner financing possible
Investors be advised there is a one year residency requirement before unit can be added to the rental list. $99/month assessment for approx another 30 months plus common charges and taxes. Building includes heat, air conditioning and hot water. Owner pays electric, cable etc.

Listing Broker related to owner. Withheld from MLS till February 1st per owners request. Open listing available(2.5% empty, 3% furnished).

$110,000 or 120,000 furnished

Photos Upon Request