All Forum Posts by: Matt Pfefferlen

auction 450k on second

First is 1m

Market value is 1.7m

I get it would go to auction.  I would make offer with maybe 100k of equity (debt 1.4m and offer 1.5m).  Sill think it is a dead end?

there is a house I am interested in that was foreclosed which had irs liens.  If I want to be a guaranteed bidder how do I approach IRS to get them to redeem? 

yes I expect to have to pay it all off soon. Just wondering if they have to accept my payment to get current which then they would have to cancel notice of default assuming they started foreclosure on first.   If they accelerate payment then they would have to give me 30 days before starting foreclosure

I am looking at purchasing at trustee sale initiated by a junior lien. I understand the senior lien by law would have to accept payment if I have trustees deed.  I am looking for confirmation that in fact the first has to accept payment to get current for example and / or payment in full. Thanks 

I am specifically interested In the odds and risk of a loan modification not being recorded. NOS followed quickly after 90 days of NOD and then all cancelled a week atfer NOS recorded. My guess is they did not get a loan modification and then agreement to cancel sale. Is this something I should not worry about (ie worry about higher balance than implied in deed of trust)?

Just looking for opinions here.  I am looking at buying a foreclosure on a second lien.  I am wondering how much of the risk is in the unknown in the first.  The first had NOS sale out three years ago and a week later it was cancelled.  I am assuming they paid what was due but I understand loan mods don’t have to be recorded so there is a chance they worked something out with the bank and they may have a larger loan amount than implied in original deed of trust.  Any thoughts? 

Does the IRS lien make it difficult to get immediate financing for both traditional financing as well as hard money?

I am looking at buying a foreclosure from a second lien at trustee sale.  There is an IRS lien junior to the second lien.  If I go ahead and payoff the first and the IRS redeems within 120 days will the IRS reimburse me for the first in addition to the second? 

Andy- when you say you had the last 4 of social so you could get payoff amount; I assume you mean that made it easier?  The bank has to take a payoff from someone with an interest in the house, right ?