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All Forum Posts by: Tyrone Smith

Tyrone Smith has started 3 posts and replied 17 times.

Post: Free Small Business Checking Account

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

Al how is Trustmark with Investment purchase deals, I Heard they work with investors?

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

Sorry for typos thping on phone in the car

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

Each state is different Chris depending on your laws on Eviction for tenants and mortgage eject ment. That being said my situation involved a mortgage company never following though with the ejectment of the mortgagee. The bank sent the necessary letters for the time for right of recission to be void,If mortgagee held over . Most banks assume that's enough for people to move out, however my person decided to stay and she stayed for over 2years for free. That's right  free the and never filed he ejectment until two years later won the ejectment and en lists he house and the mortgagee believe it or not appealed and the court here granted that in this time period I contracted to purchase the home: I hired a Pi to determine who was in the house to find out if it was. The mortgagee or tenant as like I stated before, this would determine which way I had to go. I went to the house with police and Pi. With my deed in hand to meet this person in my house and she pulled out court of papers for a court date  a month ahead on her appeal. Prior to this we went to mediation. As ordered by the judge and we decided to allow the. Mortgageee. To apply for and obtains a loan within 20 days and if she could. she agreed  that if she could not get then loan she would vacate within 7 days if not I could be granted a writ of possession and immediately get property. Of  course her credit was terrible she  had spent all the money on a car I thought she financed and she did. It vacate and try to get more time however  I went ahead had sheriff Evict her with my writ of possession they left a lot of stuff in house I got and trashed it out. I would do it again but it was a gamble not seeing inside of house etc however it selling tommorow and it cost attorney fees, for mediation and that's about all that was extra since was an ejectment and not eviction. The key was locking the terms in the mediation although mediator was trying to put things in their favor.

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

update finally took possession today long story but if any one runs into this type of situation in AL please feel free to message me

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

This house is being at such a discount that even if it cost me 10k it would be worth It. 

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

With tenants here an unlawful detainer action would take about a month or less, and sheriff would show up and I would be responsible for removing their belongings, boa foreclosed on this house back in 2010, which makes it odd the occupant is still there if it the original owner I would have their name, if someone ELSEB, would probably require a PI, TO DETERMINE WHO THE PERSON IN NEED TO SUIT FOR UNLAWFUL DETAINER..

Post: Purchasing an Occupied bank REO property, anyone with experience in this Regard?

Tyrone SmithPosted
  • Rental Property Investor
  • Montgomery, AL
  • Posts 18
  • Votes 2

It is my responsibility to get occupant out of property, was wondering if anyone had experience in this area. I would think it could be as simple as knocking on the door offering $500 for them to move , to saying I now own the property and you will need to vacate to filing an unlawful detainer action against occupant and have sheriff evict. Looking for anyone who have purchased and auction property or bank property in this manner input.