Also, by linking my status with other yard sale accounts I am able to broad cast to even more potential sellers.

It is true, sometimes the named party might include the Servicer as well.Usually when a loan is in default status, the investor through their servicing company will have an agent already assigned to the house.

If you have a health issue or another opportunity presents itself, the money is there to switch gears and keep moving forward.

Hello everyone!

So far things are going as planned. However, we seem to be running into some issues with out purchase contract. Here is the situation...

We found a basic purchase contract online, add...

Throughout the process, call the mortgage broker (get the seller's written permission to contact the broker as part of the contract) once per week (Tuesday or Thursdays tend to be the best) and get a status on the loan.

I'm definitely hesitant to do many buy and holds in a small market because I don't trust the long term economic health of a small town.

They are looking for things that are health and wellness problems(heat, running water, functional kitchen, lead paint) and that there are no big expenses looming in the next couple years.

It may be under 'SHOW' status which is a variation of Under Deposit.

The home is rented now on a month to moth status.

I am trying to get a full picture of an investment, not just in the hard dollars that I pay or receive monthly, but the overall impact on my tax situation, depending on my filing status and tax bracket.