All Forum Posts by: Silvana Elejalde

Hello ladies, I'll be happy to join the meet up on 2/27. 

 Done! Thanks Jon, until next time.

Hi Jon! I'm sorry I missed it :(

Anyway you can tag me for the next meet up?

@Jon Huber I appreciate you letting me know. Thank you and see you on the 16th.

@Yaroslav Golubev Thank you for the heads up!  @Jon Huber I will come from Broward County, see you there! PS~Would be great if you could move the time from 3pm to 6pm (if still possible). Thank you!

Flip 4 Funding, I also spoke to one of their reps, they have set up cool facebook advertisement and ask for permission to call you, setting up a meeting time online. Nice approach from marketing stand point. They offer unsecured loan, based on your credit score, those with bankruptcy do not qualify, basically they will negotiate several "lines of credit" they said, actually I believe they will apply for credit cards on your name, to accumulate a total of average 80K - 100K in approved credit. They were specific about "multiple" lines of credit, meaning multiple credit cards on your name. They tangle the presentation a bit, offering "no points" and "no pre-payment penalty". Of course, credit cards never charge a pre-payment penalty and do not add points. They did not mention if there is a yearly maintenance fee to keep each "line" open, so be aware, if this is how you pursue to fund a deal, get all details up-front. Of course, 0% introductory rate for 12 to 18 months is then achievable, not a scam, they seem to be credit cards facilitators, they thing is they charge a flat fee of abt 5K to 9K, so you do the interest rate math you will pay for your loan.... pretty high compared to conventional financing, lines of credit. They promise they charge their fee as a one time fee, and that in 12 or 18 months they help you to re-negotiate your "lines of credit" to transfer to a second round of funding, meaning they will shoot for balance transfers if you have not paid your balance in full yet. Of course, if for any reason balances cannot be transferred, they said after 12-18 months the rate could be anywhere between 8%-11% . They did not mention what type of legal contract they would use to at least secure their terms. The part that still leaves me wondering is how can they offer cash for flipping, I mean, any credit card company will immediately charge an interest rate for cash advances, so there goes the 0% promise out the window....funny enough, they mentioned you can access your "lines of credit" in different ways, credit cards, checks, cash. These guys are creative for sure, but I don't think this type of funding is for me. If anyone has had an experience getting the funding, please share your comments.

Hello, if anyone has had any experience in Broward County, Florida, winning a bank foreclosure paying over the final judgment amount, and getting the Clerk of Courts to disburse funds from Court Registry to cover delinquent property taxes, I would like to hear from you, what steps to take, forms to fill out, etc.

In my particular case, the auction took place January 5th 2017, I got Certificate of Title January 19th 2017. The court issued a certificate of disbursement on January 20th. The surplus currently available at court  registry can easily cover delinquent property taxes. I already approached Revenue Office at Broward Tax Collector, they said they cannot and have never started this type of process with the court. As a matter of fact, they said they've had other auction winners do the paper work direct with the clerk of courts and they eventually get a check issued by the clerk out to Broward County Tax Collector. My problem is that I went to Clerk of Courts office and the rep that I talked to said that I cannot initiate the motion/claim as the third party winner, not even asking for the check to be made out to Tax Collector. So, the information I'm getting from Tax Collector rep and from Clerk of Courts rep is conflicting.

Any tips?

Thanks Wayne! That's what I thought and I included the $ 10,336 provision in my numbers.

Yes, always checking on back prop. taxes as well.

I noticed IRS tax liens sometimes get paid by owners before going to auction, and the payment does not seem to include interests. Does the IRS not collect any interests? Do you have any info on this? I found other auction cases with IRS tax liens, just including the original lien amount in my provisions...

Looking at a bank auction in Florida. Property also had a HOA auction which was already sold 12/20/16, actually went back to HOA for $1,700. In this case, I assume HOA will try all means to collect its monies from future property owner resulting from bank foreclosure sale. Any idea if by HOA being current owner holding Certificate of Title due to HOA auction sale with amount $ 1,700, if they are legally entitled to pursue collection of amounts shown in actual final judgement of HOA foreclosure which was $ 10,336, meaning to collect such monies from future winner of bank auction?

Thanks Hal! Deeply appreciate your insights.