Notice no complaints about if this is the right forum?

Hi All,I am gathering data on default notices, running numbers and trying to understand/evaluate what might be an opportunity in the pre-foreclosure arena.How can it be that some loans are maybe only a 3rd of what the market value is?

You will also notice Joshua Dorkin adds a personal touch not found on other forums.

I'm new and noticed a couple people had "under investigation" listed next to their user name.

If you bank has filed a "notice of default", or whatever its called in your area, you've probably had numerous phone calls, letters, or people knocking on your door already.If you do try a sale leaseback like you describe, I'd recommend you do it with someone you don't care to stay friends with.

When the man handed me the application, I noticed that the woman's name was nowhere to be found.

Originally posted by "MikeOH":In addition, while you are waiting for that small percentage of people with bad credit but a big pile of cash to show up for the option premium and security deposit, you could be renting the property.Hi Mike,I have noticed in a few different posts that you seem to have a somewhat jaded view of option deals.

Except that I couldn't do that on the existing lot, which would have meant buying an adjoining lot (that made it "iffy") except by taking that small lot it would have greatly decreased the value of the lots adjoining it.

So, for example, I know if you were to use the standard Colorado Real Estate Board purchase contract to directly buy a house from someone after they had been served with the "Notice of Election and Demand" (NOD in most places) you would be in violation of the Colorado Foreclosure Protection Act, and would be subject to criminal penalties including prison.

I've noticed alot of the big name mortgage companys like Countrywide seem a bit conservative with their rules.