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19 October 2011 | 8 replies
(this is usually NOT the best course of action)All the attorney will do is hire a collection company that has more bark than bite and rarely collects any money.The other option is to use a judgement recovery company.They usually pay the court costs and filing fees and then split 50/50 of whatever they recover.Sometimes they will buy the judgement outright for real cheap.In this case you get your cash right away and move on.Judgements depending on the smarts of the tenant can take 3 months to years to collect.Some tenants are judgement proof.This can happen when:1.The funds are retirement funds in a bank or social security where money can't be taken.2.The tenant works a job where their income is at a level where they cannot be garnished by Federal Law.Even when you can garnish you can only take 25% each time.If their are other judgements already garnishing then the 25% gets split up among the garnishments.85% of judgements never collect a dime because of the work involved.Even if the judgement company you employ chases the tenants for money the tenant may pay or they might just file BK if they have other debts.A chapter 7 costs thousands so it would depend on their other total debts and how much your judgement is for.This is why it is important to carefully screen tenants.They need to have good credit,a good job with long work history,etc. or something where you know you can collect if they default.If you have multiple tenants staying in one place and they all make minimum wage it will be hard to collect on them later versus one person showing great income.Hope it helps.
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20 October 2011 | 13 replies
If your home is fairly secure, I doubt they're scoping it out.
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20 October 2011 | 4 replies
. $ $ $ off security deposit if you do minor clean up-repairs !
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19 October 2011 | 1 reply
2 other issues are: house is titled in LLC name, and buyer is obtaining a state housing grant for the down paymentThanks for any help!
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21 October 2011 | 3 replies
They'll need the loan secured by the home, right?
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21 May 2015 | 62 replies
What Jon said about having a security code applies equally to all phones, not just the 4S.
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21 October 2011 | 1 reply
Reo Broker just emailed me that his SFR listing in 90043 just fell out of escrow because buyer couldn't secure loan. 4Bed/3bath 1800+ square feet just reduced to $290k.
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26 October 2011 | 7 replies
My husband and I would like to work together to achieve a more financially secure future (that and I'm terribly bored sitting behind a desk all day making other people rich!)
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22 October 2011 | 11 replies
This isn't easy to do and it smacks of a conspiracy to circumvent rules when it really isn't.We have a securities attorney and will get an opinion about this and some other constructs to accomplish what we want to accomplish soon.
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10 November 2011 | 31 replies
I was interested to hear what others might be doing in securing non-bank financing.