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8 September 2017 | 40 replies
I stay away from litigation attorneys doing transactional work as they can't usually get out of (court mode) and over blow every little minutia into something bigger than it has to be.Seasoned transactional attorneys know the goal is to get to closing but also protect their clients.In a lawyer firm the main attorney might be 300 to 400 an hour, junior attorney they give some items to handle 200 to 250, paralegal 100 to 150.The good attorneys are fair with fees and understand repeat business and recommendations will get them much further than overcharging clients and getting a bad rep in the community.
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7 August 2018 | 1 reply
Hi Ron, I'm a few years your junior but I'll take a crack at getting the discussion going.
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25 April 2022 | 39 replies
I look for junior anchors and large anchors close to the STNL property for daily cross feeder traffic around the site which can help your tenants business thrive more.
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21 May 2019 | 3 replies
They will get wiped out by the 1st mtg foreclosure.....assuming the foreclosure is done properly, naming/serving the junior liens.
28 April 2022 | 4 replies
Also keep in mind that if refinancing back into a long term loan when done that Fannie Mae guidelines will only allow for one SFR + 1 ADU. no junior ADUs or additional ADUs.
22 July 2013 | 8 replies
Tom when you give the property back to a bank that is a "deed in liue" of foreclosure.You basically just sign title over to them.In that case though usually there is only a first mortgage.The lender will run a title search and discover any junior liens attached to the property along with the second mortgage already mentioned.The second and other lien holders will want more than the first lender is willing to take for a loss in the deal.So usually the first lender with additional liens attached will just foreclose to wipe the juniors out.Foreclosure laws vary by state and some are judicial (court) and non-judicial (no court).If it took the first lender a very long time to foreclose and the market was declining the first might play ball and offer more to the junior lenders in a short sale to pay them off.Every property file is evaluated by loss mitigation on a case by case basis.Definitely if the property needs work and you are thinking of a short sale do not put a single penny into that property.Your friend will never get it back.Has your friend been given the divorce decree order yet??
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28 September 2009 | 10 replies
The lawyer also told me that starting bid and junior liens are announced at the time of auction.4.
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4 December 2015 | 4 replies
The two biggest mistakes are :1) Buying a junior lien 2) Over biddingGood luck
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5 January 2023 | 147 replies
Plus certain banks for example were notorious for never paying the back taxes or going after an overage for some reason, but junior lien holders though their lien was worthless because of the liens in front of them and didn't bother, That is the ones that even knew an overage was possible.
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20 April 2018 | 12 replies
A good idea might be to find a boutique type of multifamily brokerage and/ or find a large broker such as Marcus & Millichap and then look for the freshman/ junior type of broker that is eager to build his reputation and transactions.