All Forum Posts by: Account Closed

 There are actually two questions in your question. (or more) But, first you use a Purchase & Sale Agreement to specify the Terms and then you use an attorney who will prepare the rest of the paperwork. The attorney will ask you for clarification on anything that is needed that isn't written down. You should give the seller proper disclosures.

 Sure, that is what banks do all the time. They buy and sell mortgages. That's why people get letters that their loan has been "transfered".

 That can mean a *lot* of things. You have to have the building department tell you why for that particular property.

Probably not. But, If you are into challenges, empty the ocean with a teaspoon. It makes as much sense. ;-)

Depends on the state you create your LLC in. Some states are full disclosure some are not. You also can create an LLC that has an LLC that owns an LLC , etc if you are really into it. Also, you can create an LLC in any state even if you don't live there.

 Nonsense. Don't fall for it. Caluculate the amount you would spend on tuition, books, fees and lost income and lost time. That is your true cost. Find someone to Joint Venture with and make some money while you learn how to invest in real estate. "Those who can *do*. Those who can't - *teach*." If they were good at it, they would be doing it, not teaching.

Each bank has an REO (Real Estate Owned) department. They are really tough to get a call back from. Generally you have to contact the real estate agent assigned to selling the property. You can get that through the MLS.

There is a right way and a wrong way to deal with foreclosures. He chose the wrong way. Don't even *think* of doing it.

Defendant pleads guilty in scam targeting homeowners facing foreclosure

Jan 23, 2018 Info Wyandotte Bonner Springs, Kansas City Kansas, News

A Missouri man pleaded guilty Monday to charges he and his accomplices swindled homeowners facing foreclosure with false promises to help them save their homes, U.S. Attorney Tom Beall said.

Tyler Korn, 28, St. Ann, Mo., pleaded guilty to one count of conspiracy to commit wire and mail fraud in U.S. District Court in Kansas City, Kansas.

In his plea, he admitted he and co-defendants used the address of a UPS store in Overland Park, Kan., to form Reliant Home Financial Group, a company they operated out of the St. Louis metro area.

The indictment alleges the defendants took money from victims and fraudulently promised to:
• Lower their interest rates.
• Lower their monthly payments.
• Help them obtain loan modifications.

When victims received foreclosure notices, the defendants advised them not to worry about it.

Other defendants include:
Amjad Daoud, 33, Lutz, Fla., who is awaiting trial.
Ruby Price, 73, Bonner Springs, Kan., who is awaiting sentencing.

Korn will be scheduled for sentencing later. He faces up to 20 years in federal prison and a fine up to $1 million on each count, according to the U.S. attorney’s office.

Beall commended the U.S. Department of Housing and Urban Development – Office of Inspector General, the Federal Housing Finance Agency – Office of Inspector General, the Johnson County District Attorney’s Office, Special Assistant U.S. Attorney Emilie Burdette and Assistant U.S. Attorney Jabari Wamble for their work on the case.

 Fixed only. If it doesn't work with fixed you will lose it later on an adjustable. Fixed only.

 If they file bankruptcy and you don't have anything in writing you lose control. They most likely don't want to move. If they file bankruptcy & wipe out their other debt, they are in a better position to pay rent on time. I would consider getting an agreement in writing with their attorney so that it would hold up in court and protect you.