Lyle Cooper
Will taking COVID-19 forebearance now impact lending in future
I have 2 rental properties with mortgages on them. Both are in NYC. One rental property is up for renewal in June (currently occupied) and the other has a tenant who was always behind 1-2 months before COVID-19. O...
Billy Bob
Ineligible for HELOC after loan modification on 1st mortgage?
I applied for a HELOC with a few recommended credit unions. Four years ago I did a loan modification. I owe $200k on a $500k on my primary residence in CA. Credit is over 700 with enough income to meet DTI on mortgage...
Nik Krohn
2nd NPN (Non Performing Note) Successes
I would love to hear from other investors that have purchased 2nd non performing notes. What percentage of these notes end up with a loan modification? This seems to be the best strategy out the gate. There are severa...
Thomas Meyer
Taking over a whole note
I own half a note (First Trust Deed) with a partner. The loan is due in four months, but the borrower wants an extension of a year. I am willing to extend the term, but my partner may not. How do I take over his porti...
Brandon Sturgill
ADA Issues
Does anyone have advice or education about renting a single family home and ADA issues...seems to me that the climate is ripe for litigation on ADA issues...and the folks that bring the suite always prevail.
Ken Quella
Co-Signer Did Not Approve/Sign Loan Mods House Now In Foreclosure
Hello,Have a unique situation here. Lets say a father co-signed on a note 12 or so years ago with his daughter and son-in-law. Since then the daughter/son-in-law have completed four loan modifications over the years...
Harold Looney
Creative Home Equity Loan
I am looking for creative ways to leverage the equity in a property I own without having to refinance and lose the great rates that I currently have from my mortgage modification. Using round numbers, the property is ...
Matt W.
First pre-foreclosure all cash purchase-how to protect myself
Hi BP, Like everybody I'm searching for off market deals. This is in my town of Wilmington, NC and any investment grade houses below $150k sell very fast, usually for what seems like too much.I found out about this ...
Corey Dutton
Another Loan Mod Scammer Sentenced to 1 Year in Prison
Years after the real estate meltdown, U.S. regulators are finally catching up to all of the loan modification companies that scammed these distressed homeowners out of millions. One such perpetrator just had his d...
Naji Boutros
Wells Fargo Settlement Offer?
One of my loan modification clients got the attached letter in the mail.
Dear <client>We're writing to provide you with the important information regarding the above-referenced mortgage account. During a recen...