Account Closed
Obstacles to "Sub-2" foreclosure rescues in NC
Greetings from Asheville.I've just run into what I think is a major snag into doing foreclosure rescues using "Subject to" financing in North Carolina due to NC General Statute § 75-121. Here's what it says in a nutsh...
Jennifer Kinzle
FAQ on Short Sales, for investors
Hello BP Investors! There is a lot of great stuff on the BP site and I always seek to use it as a resource. So, right now, I'm working up a list of frequently asked questions on short sales and I'd like to get BP in...
Miguel M.
How are liens handled after a bankrupcy sale?
I've been looking at Chapter 7 and 11 bankruptcies. In the motion to sell documents it usually states the property is "subject to all liens and encumbrances, if any" and then usually follows a list of the liens in the...
Ross K.
Taking over a mortgage and refinancing
Hi everyone! I'm new to real estate investing so I have what might be a newbie question. So I have a friend who wants to sell his home pretty soon. The house was purchased in 2009 for around $20K - $40K less than w...
Patricia K.
Pitching Subto/Creative Finance
Hi all. Texting with a few agents and I want to pitch creative finance/subject to. Does anyone have a quick script on how to pitch it/describe it in a few sentences so they don't just immediately say "not interested" ...
Mark Reed
unloading inherited property in Miami
I'll try to be as detailed as possible here, with approximate numbers. My co-worker had a death in the family, and in turn, inherited a house. The house is still owned by the bank, and it is still mortgaged for about ...
Scott T Brady
Possible to buy a non performing 2nd to stop 1st foreclosure?
I'm working with a seller to stop his foreclosure; the 1st (Wells Fargo) has been in default for over two years, foreclosure is scheduled April 1st, they are still interested in being reinstated. A 2nd (US Bank) is a...
Kim Oceguera
Subject to strategies
Hi all,I've got a question on subject to deals. Have any of y'all been successful in a subject to where the owner is behind on payments and the mortgage payments are higher than what the market rental comps are? The s...
Jimmy Deringer
Pros and Cons of buying a property with a 2nd mortgage
I've been thinking about buying properties from people who have a second mortgage and third mortgage on 2-4 unit buildings. My problem is, I just can't decide whether I should make the time investment to focus on the ...
David Lecko
Seeking a seller financing expert
Hey guys,A friend of mine that I work with lives in Portland Oregon (technically in Hillsboro).He wants to buy a $500k house, but is having trouble getting a loan because he had a foreclosure 4-5 years ago.Now he has ...