All Forum Posts by: Shella Sanders

I don't know the process of probate since I havn't been through it myself but I hv wholesaled several probate house deals that always took at least 6 months to get through that process. but this time I hv a house that I hv had under contract for a year now and the court just seems to be moving the slowest ever. Me and my seller are very frustrated. she hasn't heard from her attorney who she paid 3k last year, since february and she is looking for me to advise her on what we can do. I told her we could skip the probate and do an affidavit instead (which title co advised) but she has 3 sisters who hv already signed no contest papers before she did the probate so she doesn't want the headache of needing them to co operate again. My next thought is maybe we can get another attorney to pick it up half way through and see it to the finish line. she said the next step and what she has been waiting months on the court to schedule is the administration hearing. does anyone hv experience with this and can suggest anything that may help. and also if someone could list the steps of probate court process would help also. I'm talking to probate attorneys that some of my wholesaling network hv experience dealing with and at the very least I could use some advise to not sound dumb when talking to them, since I'm not familiar with the actual process.  thanks!

I hv a house in Dallas, TX that I sold owner finance to a family for 180k. 

They put down 20k and financing 160k with me. 

My underlying loan is for 110k at 12% for 30yrs. (why so high? Let me tell u the story)

I bought and fixed the house with hard money at 14%

I was working with a commercial lender to refi the house to 5.375% over 30yrs.

Paid for appraisal. then submitted a lease from my buyer. then had to hv the buyer move in because the appraiser had to verify that the house wasn't vacant before they could close. THEN we got ready to close and the lender told me that if I sell the house and transfer title, that they would call the note due. Or me cancelling the insurance(since the buyers would hv their own insurance) would trigger the due on sale clause. So I was in a crunch now that my buyers were living in the house and waiting to close.

so I ended up having to do a loan modification with my hard money lender dropped it down to 12% over 30yrs. So i could get the wrap closed with my buyer. now I need to get my underlying loan refinanced but I figure I need to do a collateral assignment of my note lien since I don't own the property anymore. 

does anyone have experience with this or even better know someone (preferably private lender) that can help me do this refi

am currently in a hard money loan on a SFH house that I am almost done rehabbing here in Dallas, TX. My payoff is gonna be around 85k. I anticipate the house will appraise for 170k. I'd like to do a cash out and do a wrap where I OF it to an end buyer. So I need a lender that won't call the note due when they see that owner name changed. I hv two challenges. One in income and the second is doing this without my Husband. any recommendations for strategy and mortgage or private lenders will be appreciated

am currently in a hard money loan on a SFH house that I am almost done rehabbing here in Dallas, TX. My payoff is gonna be around 85k. I anticipate the house will appraise for 170k. I'd like to do a cash out and do a wrap where I OF it to an end buyer. So I need a lender that won't call the note due when they see that owner name changed. I hv two challenges. One in income and the second is doing this without my Husband. any recommendations for strategy and mortgage or private lenders will be appreciated

@Wayne Brooks thats a great idea. i didn't look that far for bankrupcy records. will do just that thanks

@Doug Wade actually there are a lot of properties in dallas that go years without taxes being paid. 

or.. sometimes the lender pays the taxes so they can add more penalties and interest to the loan for doing do. 

@Matthew Paul how does that 'clear' it. never done quit claim deed. but its always been challenging trying to turn it into a warranty deed on the resale

@Andy Mirza this certainly sounds easier to start. will do

I found a house driving for dollars. and skip traced to find an elderly lady in an old folks home. 

called her and she said she would love to sell me the house but she did a reverse mortgage 

and doesn't know why the house is still in her name. she said if i could figure out what to do she would help me get it done. 

I looked up the deed of trust on the county website and then looked up the lender and saw a bunch of bad reviews online, as well as an audit against the company for not following HUD's guidelines and also that it went out of business in 2011.

the company is called Financial Freedom senior funding corp governed by the state of delaware but did business out of irvine california. her deed of trust was executed to them in 2003. 

what can be done to unravel this?

@Tanner Federspill  nope! and one guy said he wanted to buy and actually asker to finance 15k. smh. seller wasn't gonna wait for 9k. one of the buyers was a real estate agent. and he was just coming to look for his out of state buyers cuz he said it was something they may be interested in. but after coming. he said something about a non profit had bought it prior to my seller owning it. and something about the next buyer not being about to sell it for too much because of that. which i have never heard of before. have u