Ron V
REO closing time
how much time do I have since the bank accepted my offer to the closing day ,or to find a buyer for a double or simultaneous closing ?
May Rodriguez
Options for Protecting asset - forced placement insurance?
Hello, I am a private lender. My mortgagor's insurance only covers dwelling replacement. How do I protect my investment as the loan amount is more than the replacement cost of the property? I have looked at forced-pla...
Shane Baker
Need advice on duplex as new investors
My partner and I purchased a duplex in August. We are now trying to get it rented out after rehab. Unfortunately we are about $40,000 over budget. The rents will not pay us back in the next 12 years. Yes we financed t...
Brian Kraby
Details of my first short sale...Ideas or critiques
Ok,
I have a seller of a duplex that wants out. Owner is in default and is behind about 20k. Sheriff's sale is end of October. Technically, the owner gets postive cashflow but has other properties that don't and jus...
Charlie Fullerton
First Tenant Late Rent Issue
Hello Folks -Just want to run a situation by everyone here and get some thoughts. I just bought a multi-family in tenant friendly MA. One tenant still has not paid September rent. Spoke to tenant and was told Sep...
Shi'Mere Andrus
Assigning a Short Sale
This is the first time I'm learning that I can actually assign a short sale. How many opportunities did a pass up because I didn't know this....alot. Anyways, here are my questions:
Background: I live in the Los ...
Patrick H.
What the lenders are really doing with short sales
I went onto the metrolist for my region and noticed that most of the properties are listed as short sales. I have read elsewhere that the listing agent might list the property below what the lender really needs, to g...
Roy Lam
Accept partial rent, then serve a 3 day notice?
I have a tenant that in the past few months she has been late on paying rent. She would pay a portion first, then more later during the month. This has been going on for the last six months and I am getting tired of t...
Sandy Uhlmann
What Happens to Second lien if first accepts a DIL?
If a first lien is in default and rather than be foreclosed on, all parties agree to a DIL, is the second lien extinguished as if it had gone through a full foreclosure or does it still exist? If it still exists, I a...
Renee Allen
question about foreclosure
A realtor told me yesterday that you can deed your home back to the lender. Is this possible? How does that work? What would make the lender do that? If the property is worth more than you owe and they think they ...