All Forum Posts by: Ray Trounday

Population is definitely a factor for me in my evaluation of a NPN. If I am unable to get the borrower to re-perform and have to foreclose on the property who am I going the sell the property to if I decide to wholesale. Generally, 10k of population is my rule of thumb for NPN. I don't have a specific tool for this information. I generally do a Google search "population of xxxx" and it generally provides a good result at the top of the result page

Jonah, the back taxes should be taken care of in escrow.  The question is whether your contract specifies the buyer or seller covering the cost.  Since the seller owes back taxes, it is not unreasonable to expect that the seller take care of back taxes as part of the proceeds from the sale.  Property taxes is particularly important since it is a senior lien.

It is still available.

I plan on attending.  It is highly recommended.  It is a great event.  I have attended the past 2 years.

By in large a loan servicer is a administrative function.  They accept and record payments and manage associated escrow accounts if applicable.  I would not look to loan servicers in a advisory capacity.  They ensure that you are federally compliant in administration of your note.

Most servicers will not check on the status of property taxes.  It would be good to understand FCI's position. Definitely something that you want to be aware of since property tax liens are senior to 1st liens on the property.  I can't speak for FCI but it seems odd that they would not notify the borrower as part of TILA.    

Ernesto, are you interested in the property after it is updated?  I am happy to add you to my buyer's list.

-Ray

Under contract at 335k; ARV 440-450k; Rehab: 30k. Do not disturb owners!!!! Drive buy only

This question is directed to folks who have been recipient of a property(assignee) via assignment. What are your expectations of a assignor? What did the assignor bring to the table that brought value to the transaction rather than another cost item to cover at closing? Any and all feedback welcome