Gabe K.
Another loan mod: your thoughts are welcome
Notes fans,I am holding NPN on a nice house in a great neighborhood (not that it matters all the time) where the borrower has equity. Info:MV: $125kPrin + arrears = $103kRate: 9.90%Pmt: $765/mo. Taxes paid.Borrower ...
Jeff Smith
Seller Finance in foreclosure, should I help them or...?
Scenario -- seller has foreclosure sale date in a few days and they are 25K behind. Their payments are $1650 per mo. I was thinking of bringing them current, taking over the payments, and keeping them in the house, un...
Lauren McCarley
Building spec homes under $200k
I’m a buy and hold investor typically but have been flipping some lately in order to make cash to speed along buying more rentals. I’m also a realtor so I’m very comfortable with my comps on this area. I’ve decided to...
Shane H.
Bend policy on 3x rent requirement?
Hi BP'ers!
I have a rental that I am listing at $635 a month in a C area. I have had several calls on it, and one in particular I wanted to ask your opinion about.
Her and her husband are on SSI disability (I do not...
Judy Sumner
Hard money loan default
I made a hard money loan and the party has defaulted. I've lent out money several times before, but this is the first time the party has not been able to repay on schedule. It isn't a federally backed loan, so I'm not...
Caleb Whitney
NOD's holding out for Modification
I've received about 10 calls so far from my NOD letters and about half of them are holding on to the idea that the bank is actually going to modify their loan. I just want to laugh when I hear this knowing damn well ...
Basit Siddiqi
Rules regarding Escrow Payments: How to Opt out?
Hello everyone,Again - Thanks in advance to everyone who is able to provide me with feedback/answers.My goal is to pay for homeowners insurance/real estate taxes on my own without it being paid by a bank via monthly e...
Nicholas Lilly
Foreclosure Basic Rules
The lienholder is required to provide 21-day notices of foreclosure sales of a residential homestead. This notice must also be filed with the county clerk and posted at the courthouse. The Statute of limitation is fou...
Angel P.
How have foreclosure laws changed in the last 8 yrs
I've been out of the game for nearly 8 years and would like to know what has changed in terms of buying pre-foreclosures in California. Specifically subject to and short sales.Both from a legal prospective as well as ...
Jessie Cervantes
Best approach for foreclosure?
Hey BP Family, whats the best outreach for pre foreclosures? I'm a beginner with creative finance. I found a resource for pre foreclosures, whats the best way to contact these sellers to see if they are interested in ...