Many of these post their REO properties on their web sites, and you can deal directly with a bank employee.

(the lender will have to pay for it in advance).Sometimes there is language in the note and security instrument that allows a lender to not only collect on any and all advances (such as taxes, insurance and legal fees) but also charge interest.

You're not going to just post on a few web sites, or look on a web site, or make a call or too and pocket a $3000 payday.

Did you collect 3 separate checks for the security deposit?

The income is Social Security, VA benefit (military spouse of a veteran who passed away) and a civil service check.

I have a lawn care business, web design business and 49 units.

I purchased 3 at one time and had them all re-keyed and secured.

Self employment tax or SET is the same as the medicare and social security that's deducted from a paycheck from an employer.

The bank still can try to collect on their note with the previous owner, but they do not have the mortgage to secure the note.

What I meant with REO brokers is they are not going to sit and secure a crap property over and over with the low commission they are making in a high crime rate area.They get paid a set commission regardless of the price.So whether it stays secure is not a real concern to them.If they sell a 10k house but make 10% which is 1k the condition doesn't matter to most of them.If a 200k house gets trashed where you make 6k on 3% commission or 3k on where the house gets trashed and sells for 125k the broker would stand to lose a bunch of money in that case on the sale.You could argue the broker stands to lose money by losing other listings from the bank in more sales but I don't know many brokers that do more than drop a sign with these types of properties.