Mark Gibbs
Advice on a 2nd position loan workout
I have been working a loan in Georgia for 5 months and the borrower has finally come to terms with the fact that the lien on her property is indeed intact and needs to be addressed. We have filed for foreclosure and t...
Mike Schorah
How likely is it that a bank will still do a loan mod if a judgement is filed?
Started working with property owners who are 60-90 days from auction. Most seem thoroughly convinced that the bank is going to come to their rescue and strike a deal.I understand the denial that’s going on, but how li...
Joe Johnson
need help
I reside in Texas. Currently my brother is sentence to 4 yrs in jail 2012. Prior to him going to jail he had started a home modification with Wells Fargo on his home loan. I decided to move in the property to help ...
Rafael Trinidad
how will forbearance affect my future investment now
if I am currently on forbearance on my home will it affect me on a future investment property ? and is forbearance only on your main property
Corey Spruill
Advice
I have a duplex with a full illegal basement apartment. The house is currently under a trial modification because I almost went into foreclosure. The only modification I was approved for was I think a hamp modificat...
Brandon G.
Note Question-Roth IRA Deal. Private, Non-Recourse Loan, California
Hello everyone. Has anyone bought a property with their Self Directed IRA, using private financing?
If so, where did you get the actual note? To clarify, I have the funding lined up but realize that I must obtain a N...
Jeremy K.
Rookie question - loan mod
Just doing my research and wrapping my head around NPLs. I have a question about the timing of the modification:Example: my borrower has 10k in arrears, and an interest rate of 12%Let's say I call him up and we agree...
Corey Dutton
Loan Modification Business is Booming – Are These Companies Harming or Helping Consumers?
I recently met the owner of a local loan modification company. Like most of the loan modification businesses out there, this company takes an upfront fee from homeowners who are underwater in their mortgages or are he...
Patricia Mclean
Attorney will only do part of the transaction
Hi BP I live in Georgia and I am in the middle of deal I put under contract subject to with the seller who is in then process of a loan modification and I am selling it with a lease option with the buyer that I have u...
Jane Ho
Have you ever heard of this kind of 'forbearance'?
I have a loan question from a past client...(I am an agent).
They tell me today that someone approached them (a company from LA), that if they purposely not paying their mortgage for 3 months, the company can negotia...