Eric S.
Chap 13 bankruptcy question-2nd mortgage note
Fellow Note Investors,I am reviewing the Chap 13 BK filing and plan in Pacer on a 2nd mortgage that is 100% secured. The Chapter 13 plan calls for the arrearages to be repaid over 60 months, but does not include the ...
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...
Ibrahim Hughes
Could I have purchased this property from bankruptcy?
I generally purchase tax delinquent properties. And some of my better deals tend to be tax foreclosures.However one deal that I was trying to purchase ended up going into bankruptcy by the seller. There were a lot of ...
Tricia Lindsay
2nd TD in Cronic chapter 13 BK-Balloon Due
I made a 2nd lien here in Los Angeles, CA in May 2008, Owner Occupied. The borrowers had sufficient income to qualify and lots of equity. One source of income was from a rental duplex, which they cashed out on 3 wee...
Gabe K.
Success Story: Note Exit via Trustee Sale
In March of this year we purchased a non-performing 2nd deed of trust in the Silicon Valley area of CA. We attempted to work out a loan modification with the borrowers but ultimately needed to foreclose as they were ...
Edward Mccracken
Telling a bankruptcy attorney he is wrong when including home
I came across a nice looking vacant house in my investing area. I did some research, to find out a company that is known to do fraudulent foreclosures, started to foreclose on the homeowner then dismissed the case. ...
William Wallace
Buying your own note.
I'm pretty new to the rules and such of buying/selling notes, and I just had a question. You can go right onto fciexchange, and find NPNs that are being sold for huge discounts, sometimes under 5% of the principal owe...
Peter Halliday
Pre-foreclosure and what to do with second mortgage
I'm in contact with a seller a couple weeks from auction date. He owes $189k plus $1k on a second to get caught up. The first would be paid off. Leaving $250k on the second.
He offered to carry the second. Is that s...
Forrest B.
VA Judgment collection to a person who moved to NC
I've got a 5-year old judgment in Virginia Beach (total value of judgment, legal, and interest currently around $8,000). I've been able to locate the debtor, who since gotten married & bought a house in the Fayet...
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...