I need a quick intro and a good 30 second slam to get the best response I think.What are your favorite aspects of letting a wholesaler do the find for you that you absolutely dread as a flipper/holder?

They avoided it before because it would be insuring past losses which is a disservice to their share holders in a stock insurance company and the other policy holders in a mutual group insurance company.

Here in NJ we are a tax lien state (no auction - only a strict foreclosure filed by the tax lien holder w/ no chaqnce of a 3rd party intervening without a court order).

However, if you have a credit requirement of 500, and you apply it to everyone, then apply it to everyone including voucher holders!

Essentially, what you're doing is offering lumps of cash to the note holder (the guy who's getting paid) so that you are assigned an income stream (payment stream, typically on a monthly basis).Once you do your DD and pay the note seller, an assignment takes place and the note payor is now informed that he or she has to make payments to you, the new note holder.

Any lien holder can foreclose if the deed of trust (mortgage in some states) lists a default action and an occurance of that default action has occured.

If you default on your first mortgage, for exsample, the first lien holder may be entitled to receive those rents from the date of default.

Being a note holder on an upside down property where the owner is not paying is not a nice place to be.

You can buy it, but you will need to pay for the contract outside of closing, the lender will not finance the contact, unless the contract holder gets paid as a third party payout.

I wanted to get a 80% mortgage with a bank and keep the remainder of the principal as a loan with the private mortgage holder.