I've been watching closely on the news about mortgage lenders filing for bankruptcy and had a question.

I know an entire book can be written on each creative tactic I plan on using but I’m just interested in knowing the basics (the contracts that are involved, and what to do with them after they are signed, and under what prime times should I look to use each tactic), I plan on learning the details through the school of hard knocks, that’s through actually getting out there in the field learning and making mistakes.another reason why I just want the basics, is because I don't want that whole "paralysis of analysis" thing to happen to me that happens to most beginning investors, its so easy to get overwhelm in this business that’s why most fail and the ones that are somewhat successful take so long to do so.So if anyone can answer all of my questions or part of them I’ll be so thankful

then forget it.unless you KNOW or have a VERY good idea of THE NUMBERS AND THE MARKET, do not under any circumstances get involved in a highly leveraged situation, especially when it's putting your private assets on the line.getting involved in a negative equity loan and all those options to pay this or that is just another way for SOMEONE ELSE TO MAKE MONEY OFF OF YOU.the questions you should ask YOURSELF is:do i HAVE to do this?

A modification typically involves a formal agreement whereby the arrearage or portion thereof is added to the unpaid principal balance.

It may be worth a trip to town hall though and see if he can file it.

Correct information must remain on the credit bureau report, so if there has been a judgment or bankruptcy, the information MUST remain on the credit file for the requisite number of years.

I agree with John and Nate here.Forming an entity before you've done anything will only complicate your life and may be a big waste of money for you.Get involved, do some deals, and then down the road after you've made some money then you can look at incorporating.

Originally posted by "darmax":Can you explain what you mean they will see your seller etc.The underwriter will get the file for the end buyer's loan.

* A Notice of Default has been filed in the public records against the property

I couldn't even see why I would get my lawyer involved (on the watch) before an offer was even accepted, which by the way is the 1st offer.