John Bagwell
Legal Issues Concerning Note Finding
To all Note Finders,
After carefull research on whether note finders need to be mortgage brokers you must look at the legal definition of each state's legal definition of a mortgage broker. My states defination for a ...
Nick Makowski
Purchasing an abandoned property from debt collector.
Recently found a home in a nice neighborhood that appears to be abandoned with nuisance notices on the door. After a lot of digging, found an ongoing case through casenet between the owner of the property and a debt c...
Amanda Thompson
Security Deposit return to bankrupt tenants?
Our NIGHTMARE tenants finally moved out. They owed us over $15,000 in back rent and fees and then filed bankruptcy. (This is the 3rd time they've done this... one major reason we fired our Property Manager. Seriously,...
Bob Flynn
Nonperforming Second Note Purchase with BK
I've made an indicative bid on a second mortgage that is nonperforming. The first appears to be performing. The combined loan to value is probably about 80% so there is equity here. I've reviewed the borrower's cred...
Maureen Campbell
Will co-signer hurt or help my mortgage rates and/or loan limit?
I am planning to purchase an investment property with a partner, but I am trying to determine whether I should take out the loan in only my name. He has excellent credit, no debt and will be providing the down payment...
Account Closed
Suing the previous owner
Since owning property I bought from a previous owner we have found many problems caused by the previous owner using unlicensed contractors.
Is it possible to sue the previous owner for putting the safety of t...
Charlie Gould
Which Type of Legal Entity to Become?
My Son and I are partnering to do RI. He is an excellent General Contractor with great credit rating (super smart... :-) )I have high income, low debt, analytical, detailed and good computer skills.We both live in Nor...
Matthew Harrison
Where to put 20k?
My wife and I are coming into a lump sum of 20k and would like to invest in realestate. I currently have one rental house in metro detroit that I share with my father. It is rented to a friend for 700, and we bought t...
Cody F.
How to report evictions and collect rent that's owed?
How do I hold tenants accountable for the debt they leave owing? Can I sell the debt to a collection agency or credit bureau or something? And how do I report the eviction so the next landlord will see it?
Johnathan Norman
NonPerforming Note Servicing
I'm considering making the jump into the notes biz and after reading a few books I noticed some people suggest using your servicing company for all communication with the borrower. The logic is that servicing compani...