Jeff B.
Who to approach? Bankrupt owner still on title.
A friend of a friend filed bankruptcy over 3 years ago. The house was forclosed and he moved out of the house. The bank that forclosed also filed bankruptcy and was taken over by another bank. Supposedly, THAT bank...
Rick Barker
Underwriter's Condition Freddie Mac
Hello all,
We bought our most recent rental with cash and have been in the process of refinancing it for 3 months. Every time we think we'll close they come back and say the underwriter needs one more thing.
The ...
David Yee
Seller Financing Help
Hi Everyone, I have a quadplex in Akron. I've been pretty frustrated with the two property managers I have had in my short time as an owner. Based on the amount of work and the scummy service, I'm looking to sell it...
Kevin Prasad
Seller Financing: need advice on how to pitch
Hi all, I’m looking to negotiate a deal thats a mix of seller financing and conventional lending. What are some pros that I can highlight from the seller’s perspective.
Here are a few that I’ve come up with:
1) mont...
Kyle Affronti
IRS 1274 Due Upfront on Hard Money Loan
I have a friend who has been in talks with a hard money lender. On a $400,000 Hard Money Loan.He already received a PPI of $12,000 and now he stated now that my friend needs to pay 6% of the loan which is a 1274 Tax p...
Jeff Smith
At a cross road - What would you do?
Hello fellow note investors,I am wondering what a seasoned note holder would do if you were in my shoes. I have a note that is non performing. It's in my backyard, I have it boarded with Peak Servicing (which you prob...
Nate Falconer
Save House From Foreclosure in Houston
Hey peoples!Has anyone successful stopped a foreclosure sale after the auction sale date was already set?If so, how far out from the date was it and what did you do to stop the sale?
Andrew Stoll
Does a QUIT CLAIM buy you a couple years?
As I'm doing a title search, I come across a (Illinois) property where there have been 3 LPs in the last six years, or so. It seems that every time an LP is recorded, the person who holds interest, quit claims to s...
Adam Gratt
Conventional Loans for People with Bad Credit
I have traditional buyers come to me and ask about what their options are, especially since all the issues with COVID have caused their credit score to drop. Since I am sure there will be a lot of people coming out of...
Terrence Evans
Possibly a dumb newbie question regarding NPNs
Ok so let's say I buy a a non-performing note for 30 cents on the dollar and I know that the area is someplace relatively depressed like say Detroit.Let's say that the balance was $30k and the property is worth half t...