All Forum Posts by: Melissa Searing

Lamont Mitchell I think it would be great if you got your real estate license. My partner just got hers and I cannot even tell you how great it is to be able to search MLS, see properties and submit offers without needing anyone else. SUCH a great decision for us and worth every penny. Best of luck to you! (And try not to take people's condescending comments personally or let it discourage you from posting).

Hi BP! I am going to build a basic site on Weebly and I have a question about which domain name I should choose. With organic SEO in mind, which option do you think is best... cash4myhouse-(city name).com cashformyhouse-(city name).com cash4yourhouse-(city name).com cashforyourhouse-(city name).com homebuyers-(city name).com webuy(city name)properties.com

Thanks @Charlie Fitzgerald - that's great advice! And thank you, too, @Jay Hinrichs, I appreciate your input. 

@Ned Carey thanks for the key words - I will do some research on BP, for sure!

Ok great, thanks for the info @Charlie Fitzgerald! I appreciate you taking the time to respond. :)

Hi!

So I have a question for a South Carolina attorney. I am interested in doing a deal in Charleston via seller financing, but the borrower still owes some money on the house. 

The mortgage doc states that if the property is sold or transferred "without the lender's written consent, the lender may require immediate payment in full of all sums secured by this Security Instrument." And it goes on to say, "However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law."

So my question is, does South Carolina law prohibit lenders from demanding payment in full upon transfer of a property with funds still owed? I would imagine not and I am sure it is wishful thinking, but it's worth asking. :) 

If SC does allow lenders to demand full payment, is it worth trying to get their written consent?

Thanks!

Hi BP, I was "driving for dollars" today and saw a run-down house in a prime area. I found the owner's mortgage info on the county website, but I need some help understanding her mortgage situation. Her house was sold to her by a family member for $9 is 2002 In 2007, she took out a 20 year mortgage for $35k. In April 2008 she took out a 15 year loan for $58k. It does not indicate that it is a first or a second mortgage. In October of 2008, she took out a 20 year mortgage for $98,000. It doesn't say anything about being a first or a second mortgage either. She also has a Home Equity Conversion Mortgage (reverse mortgage) from 2009 which says it is a second mortgage for $270k. Does this mean that the $98k loan was most likely a refi, combining the first 2 loans? Especially since it does not say it is a second mortgage? And then, would the HECM be IN ADDITION to her $98k mortgage, since it is a "second" mortgage? Or do you think it was used to pay off the other mortgages? I'm not sure how HECMs work. I think the ARV for this property could be around $370,000...just trying to see if it's worth pursuing. Thanks so much for your help.

I know this is an older thread, but I have a question. I figured out how to find the name of an owner of a property by searching my county's tax website. And then I figured out how to plug that name into the county's deed/mortgage search website to find a mortgage on a property. 

My question is, how can I figure out how much money is still owed on this mortgage? I wonder if there is a calculator for this specific task? 

This particular mortgage was signed in 2010 for $150k. How much can I guesstimate is still owed on this loan? This particular mortgage document says it's a 30-year loan, but does not mention the interest rate.

Thanks in advance for your help!

If it looks like a bubble... and feels like a bubble...

http://www.postandcourier.com/article/20150525/PC0...

Thoughts? 

Originally posted by @Jay Hinrichs:

@Melissa Searing

@Russ Scheider

Melissa  you should connect with Russ and his wife.. they are very active and successful in your market.

Also the area between charelston and N Charleston which I don't know the name of but there is a swath there of very inexpensive houses in what would be considered semi D neighborhood.. this area though now is probably a little rough but its got to turn over to much pressure.  you may want to check that out

Thanks, Jay. We got excellent news yesterday. Someone I know offered to be a partner/cash investor with us! He wants to stay under $240 on the first flip. Woohoo! 

@Chris C. Awesome! Let me know. :)