All Forum Posts by: Account Closed

Hi,

I am generally somewhat familiar with the foreclosure timetable from pre-foreclosure to post-foreclosure (REO). Thanks to the great article from Brandon @Brandon Turner  (https://www.biggerpockets.com/renewsblog/2013/03/2...) There are three questions that I am trying to get some more clarity or at least find some good resource to start learning more about:

1. I am having some trouble with finding the actual schedule for courthouse auctions that are taking place in and around my area. I live in MA and would be interested in few different counties but I can't seem to find a good place that can capture this information. Do I need to go to each city or county separately to find this information? What's the best place to get this information

2. There are lots of online auctions where you can bid on houses (e.g. hubzu, etc). Is this similar to courthouse auction or REO? For properties on these sites, can we expect to have a clean title with no other liens - tax, mechanics, etc

3. I am learning how to do some basic title research. MA is a attorney closing state. So, it is a bit harder to develop relationships with title examiner as you need to go through an attorney but I would be interested in hearing thoughts on how others who bid on courthouse auctions do some of the basic research as far as making sure they are bidding on the first mortgage lien, tax lien, mechanic lien, judgement, etc.

Thanks and look forward to a great discussion on this. I am sure there are others out there in my shoes who are also having the same issue. 

Sonam

Great discussion going on. Thanks Donald. I am taking a trip to Worcester early next week to see few places and get some sense of the area. I was typically trying to focus more in and around Clark University (within a 0.75 mile radius) but it seems I need to explore other areas in Worcester.

I am new to the Worcester area and am looking to learn more about the area. I am interested in MF. What are the areas to avoid within Worcester and what areas are good? Any insight would be appreciated.

Thanks Upen. I thought most lenders sell their loans to fannie/freddie and hence can offer up to max of 4 or 5 30yr fixed per person. Beyond that would require portfolio loans which are typically arm. What you are saying is that you can get more than 10 30yr fixed rates per person? How would owner occupancy below 50% as well as one individual owning more than 10% of the units affect this? How much more would the rates be from the standard rates - for instance, what would a 30yr fixed rate go for right now given good credit, satisfactory income, etc? Apologies for all the questions but I just wanted to get a sense.

I appreciate your help and look forward to building a relationship.

Hello,

I am looking for financing options on an investment property. This will be my 4th investment property but only the 2nd one where I have direct mortgage obligation The others are only under my wife's name. However, I am on the title for all 4. Besides that, I also have my primary residence's mortgage that's under my name only.

In looking at financing options, the lender that I typically deal with can only offer arm rates that's fixed for 3, 5, 7 or 10 years with 25% down. I am okay with 25% down payment but prefer a 30yr fixed rate mortgage. Does anyone have any recommendation for banks/institutions that offer 30yr fixed rates in my area (Grater Boston Area). Also, is this fairly standard in other areas?

Thanks.