All Forum Posts by: Brian Nalley

I would be in for this!

I thought the Mortgage forgiveness act expired dec 2013?

 Yeah, this is true. I dont think the sale on my current place will got thru until next year, hopefully. 

I received a letter last week from a previous employer about a pension plan I didn't even know I had. I have the option of rolling it over into IRAs or employer plans, taking a lump sum payout, or getting a monthly check for the rest of my life. It is about 20k, or $86/mo for life (lol). 

I have been planning on jumping into buy & hold for a while, and finding a new place for myself to live as well after the short sale of my current house. 

If I take the lump sum, its taxed at 20% or so. Any ideas or suggestions on what options I might have to make the most of this?

Thanks!

Brian

I would LOVE to hear this as well. Was actually going to post the same thing...lol.

Sparkrent is owned Intuit--not really fly-by-night. 

My question is, what if your tenant does not have a bank account (uses cash or money order)?  There a way to use this still?

I went thru the leftover list, lots of alleys and vacant lots. Didnt see much left that was worth anything

Really interested in what happens here, especially being right up the street from you and so trying to learn more about seller financing, potentially to use for my next residence in addition to investments. 

Brian

As a noob, what is IRR if I may ask?

I am behind because of a job loss 3 years ago. I have tried over and over to work out a way to catch up, and sent in several "good faith" large lump sum payments to HSBC. They did not approve a loan mod each time, and put my payments towards thousands in late fees, legal fees, billing fees, etc. HSBC is evil :)

The mortgage got sold several months ago to some trust fund, with Caliber Home Loans servicing it. They finally offered a mod, but it was not very good. Short selling, getting out, and starting over seems like the best bet. 

I did sell several of my Pinball machines when I was trying to catch up with the large lump payments, but as mentioned above it didn't help much. I am now sort of determined not to have to sell any more unless I really need too. 

Thanks for all of the advice everyone, I am really loving this site. Been doing the podcasts on my commute too--they are awesome!

Any more advice on doing or finding Owner financing would be great! 

Thanks everyone :)