It was a relief to get out from under that as it was over our heads as far as a property type to manage and operate.

With the FDIC they could let another bank take over Indy Macs assets or they could have sold all the notes off in a bulk sale.You will have to dig at the FDIC site to see what happened.If the owner is contemplating filing BK the property can be tied up for a very long time.Once they file BK they breathe a sigh of relief.It's when the BK is about to get a relief from stay that they want to play ball again.Watch this property but don't get to invested in it.You can never control what happens to a property or what the seller will do so you have to line up many targets for acquisition.Some you will blow off right away,others you will follow and possibly put under contract but won't work out,and then others you will buy.

I bought a house that I actually breathed a sigh of relief on because the copper thieves came through and didn't break a door coming in.

having an llc but your own personal information holding the finance, is not really being protected. many people recommend a c-corp and one that is housed in nevada or wyoming because the laws there are most protective of such entities. however, i have read in many places that the optimal setup for asset protection may not be exactly the optimal setup for taxes (for instance i have read tax recommendations stating llc's are better for tax purposes). i would definitely look more into this. i personally have an llc holding one investment property, and my recent education seems to reveal that i have a completely unsafe setup in terms of asset protection and tax relief....i am by no means an expert but definitely just started out and am learning from real mistakes i have made. hope this helps!

hello there,i am new to real estate investing and am currently working on correcting the structure of my current entity as well as learn the best ways to setup asset protection and tax relief for investing. i am looking to "meet" other NJ investors/RE professionals and hopefully find out more about the processes, laws, and useful knowledge pertaining to NJ. i am currently seeking recommendations or info about local CPA's that are knowledgeable with investment properties/real estate because the last 2 i worked with didn't have a clue. it's been frustrating trying to find my "team" members because i know there are many investors in NJ who have their system built up, so the right professionals are out there somewhere...i just can't find them yet.i am looking forward to meeting fellow investors of all experience and learning more about this lucrative industry.

The foreclosure process will vary from state to state.File is transferred to the lender or servicers BANKRUPTCY department upon filing unless it is a smaller bank.The smaller banks generally have many things rolled into one department as they do not have the default volume to justify separate departments.3 ways to dismiss in BK.The filer motions to dismiss the case.The trustee motions to dismiss the case for non-payment of the BK plan.The creditor motions for a "relief from stay" for their asset.In other words if they borrower is making the BK payment but not the regular mortgage payment the bank can ask for the asset to be pulled out of the stay.This way the bank starts to foreclose again.How a bank views the foreclosure process will depend on time lines and process for that state.From my experience banks do not like short sales while in BK as that can be viewed by the court as a collection activity against the borrower.My experience also shows that sellers are motivated to do something up until filing BK.After filing BK they get a sigh of relief for awhile.If you live in a property as your personal residence and filed BK you sure don't want to sell it.You want to milk the BK for all it's worth.The credit is usually trashed to because for many BK is a last resort after failed loan mods and many other avenues haven't worked out.

I bet this would be a welcome relief to her.Jeff

Incurring all these unnecessary fees for the foreclosure, relief from BK stay, and filing responsive pleadings to whatever dilatory foreclosure defense motions you file will do nothing but add to the priority debt owed to the HOA.

Youngkrantz,30 decided after Thomey, the Minnesota Court of Appeals1) invalidated a cancellation based upon the fact that the default was an immaterial single payment, and 2) reversed the trial court’s ruling that it lacked jurisdiction to invalidate the cancellation due to the purchaser’s failure to seek judicial relief prior to the running of the notice period.

Many people breathe a sigh of relief thinking they got away with something, only to get a letter of inquiry 3-6 years later.Remember - the IRS can only audit you back 7 years in a random audit.