All Forum Posts by: Bac Nguyen

@ Anton - I checked out the app and it pretty useful and intend to buy it when I got home today.

Also, we might have met at one of Ben open house a few months back in Claremont? I would interest to talk to you about multiple units.

Cheers,  

@ Minh Le - Thanks for the insightful info and your journey to wealth. Are you plan to attending the "I survived RE 2016" in October 21? It would be great to meet up with you in person.

Early this year, I am once want a Tesla P90 - I like the "red" disc brake which kinda cool.  But, would not paid $1K for a rear spoiler option :) The BOSS (a.k.a. CFO) approved it.

But, instead I used the money to purchase a new property.  So, my two girls can walk to school which is one of my bucket list, checked. But, the P100D is back on my radar. So, I would love to know how "you leverage" and pay for it. I know it will cost me... hopefully an arm and/or leg - but not both!  Or, we can settle for a good bowl of Pho :)

PS: Stay inspiration, my friend@

Cheers,

@ Keeya - Correction, the SDNI meeting is on Thursday, Sep 8, 2016.

@ Keeya - Welcome and hope to see you at the meeting tomorrow. I will be present a "deal profile" for one of my 2nd NPN. So, we can learn and avoid the mistake that I make :)

Cheers,

Toni - yes, I lived and invest in San Diego.

FYI, I will be at the San Diego Note Investor meeting this Thursday. So, if you have time then come by and we can chat then. Here is the link for the info ...

http://www.meetup.com/San-Diego-Note-Investors-Mee...

Cheers,

@ Seiichi Ishikawa - FYI, I am a notes investor and specialized in 2nd Non-Performing Notes. I also a private money lender in San Diego. 

For private lender in San Diego, I typically charge 12% for 2nd trust deed - which is around 20% of LTV. I believed they pay the 1st trust deed around 10% - which is 80% LTV. Which is a bit cheaper than the "hard money lender" whom typically charge 2-2.5 point and 10-12% up to 80% LTV or 60-65% ARV.

@ Toni Staples - let me know if we can help/work each other.

PS: I only lend money for project in San Diego. 

Cheers,

Aaron -  You did not mentioned what BK you filed and discharged from. However, since you mentioned you want to "...negotiating to reduced payoff of a 2nd mortgage". So, I assumed you filed BK7 and get discharged. 

Because you received a discharge in your Chapter 7 bankruptcy and (I hope) you did not reaffirm the 2nd lien, the lender no longer has the right to sue you to enforce its lien - the 2nd lien is attached to the property. The good new is you no longer personal liable. And the bad new is, if you stay in the property you have to pay the property debt. 

I believed in your case, the originated lender may have written off the loan from their book and sold the 2nd lien to another company. The "new" collection company now owns the lien and the lien is still attached to your property.

This could be a good news for you now that the loan is with the new company. Since, the bank sold the lien pennies (plural) on the dollar. You may be in a good position to negotiate either a reduced monthly payment or a settlement on discount payoff for the 2nd lien balance.

Disclaimer, I investing in 2nd NPN (Non-Performing Note) . Thus, I am somewhat familiar with the workout process with the HO like you. Well, feel free to reach out to me directly when the new 2nd lien holder contact you, or if you have any questions, and I can give you some tips on how to negotiate.

PS: Yes, the new 2nd lien holder can FC on the 2nd position.

Good luck!

Cheers,

- I am interest to connect with you and find out more about investing in St. Louis.

Cheers,

Hi Corey, thanks for the info. I just searched the BO and found your post.

Cheers,

I am interest in your NPN, if the still available. Send info to [email protected].

Cheers,