Susan Parker
Notes as collateral if property securing the note is in default
I have a question regarding a note used as collateral, by a lender. The lender endorsed the note making it payable to the lender's bank. Additionally, a collateral assignment was given for the property the note was ow...
Nathan Huynh
How to obtain a list of people defaulting on their mortgages?
Hello there, I am a newbie here and I just wonder if there is any way to obtain or know about the property of owners who are struggling to pay mortgages?Thank you,
Nick Bruckner
Sellers Risk in Creative Finance deals- Have you seen buyers default?
I talked to a potential off market seller last week who owns her six unit apartment building outright. Building is immaculate in Fairview (c+ area) with a strong rental market, but relatively low sale value if she sol...
Robin Cornacchio
Can I write off a Business Loan default on my taxes?
I loaned a large sum of money to a friend's business LLC and he has defaulted. Can I claim the loan loss on my taxes?? Unfortunately for me, the loan was unsecured but was documented in a Promissory note..........live...
John Thedford
I Loaned Money On A Property, Borrower Defaulted, Then Passed Away
The title pretty much says it all. I hired a law firm to foreclose. I received a letter in the mail yesterday from the attorney handling the estate. Now what? What should I do if I want the property? Any comments, sug...
Jimmy Klein
My friend defaulted on full recourse loan and have a question
Ok so here is the summary. A class C apartment was bought by my friend not too long ago. I invested 20% as a silent partner and there are two other partners. The loan balance when the complex was bought was $2 million...
Katrina P.
Purchaser defaulted on LC pymts; can I collect rent from tenants?
Hi BP Family,So, I'm in a bit of a sticky situation. I sold a property on Land Contract (in Michigan), and the purchaser defaulted on payments one month after signing the LC. It's been a long time (so long it's too...
Vilson Nikollaj
Is there a tax deduction for defaulted loan interest not-paid?
Moving this post to tax forum... Think answer is no, can't claim unpaid interest on 1099-C, but @paresh patel brings up good point about what hte Box 3 pertains to. Anyone know what the purpose of this is?But if Inter...
Susan O.
Received Default Judgement in CA - How to get tenant to leave?
So we already Received Default Judgement in CA and judgement for posession. The sherriffs office hasn't gotten back to us. What are your strategies for getting the tenant to leave peacefully and not destroy your prop...
Ashley Wolfe
When both parties are in default and one threatens legal action..
Ok, the long and short of it is this:My husband and I were under contract for a SFH. During that time we submitted a repair addendum and the seller agreed to it in full.In the meantime, we were getting our loan final...