Christopher Abernathy
12mo loan mod failed, $190k equity,knocked his door $20k behind
so I have a homeowner that is not working with anyone yet like investors or short sale agents to help them with his pre-foreclosure and he comes outside and says yes let's talk "I'm worried because the bank wont I a...
Brendan Couture
Implications of Buying HELOC in 2nd Position
Looking for some help. I’m looking at buying a secondary lien (HELOC) via foreclosure auction.Would I then have the right to pay off the first lien and own the property outright? That would be my goal.The owners have...
Melanie M.
Pre-Foreclosure Subject To--Bad Idea?
Hello BP Nation, I am a rehabber/buy-and-hold investor. A possible wholesale deal has fallen into my lap, and I would really like some help from the talented and insightful BP populace. I am a fish out of water in thi...
Keely C.
Fire Sprinkler Alternatives
Working through a messy permitting issue in Los Angeles, CA. LADBS is requiring installation of a fire sprinkler system. I plan to submit for a modification. Does anyone have advice on an alternative Active Fire Pr...
Ibrahim Hughes
HUDs new FHA Loss Mitigation Concept
Anyone understand how HUDs new loss mitigation concept supposed to reduce mortgage payments? I'm not getting it. Particularly this paragraph here. I just don't see how the extra 2nd mortgage is supposed to (temporaril...
Christopher Winkler
When Is A Re-Performing Note A Performing Note?
We are marketing some Re-Performing 2nd lien notes for one of our funds we buy from, and I consider any time a note defaults and starts paying as a Re-performing note. They have 18 months of "seasoning" and they say i...
Jim Jopling
Work-out non-performing notes in a SDIRA?
I just listened to a presentation in which a lawyer (SDIRA expert) said that you cannot perform physical work on your own rental properties held by your self-directed IRA. This would be a prohibited / self-dealing tr...
Jasmine Doster
Subject to Short Sale deals
What is needed to successfully negotiate and close on a residential short-sale property subject-to the exsisting loan? Does the bank require you to have a certain income level etc in order to take over the person's mo...
Joe Johnson
Next Step with a Rent to Own property
I have been renting a property for 2 years now and making rental payments directly to the mortgage company. The owner was in foreclosure but I helped the owner through the modification and now finally approved and mo...
ROBERT Richards
With one rental and one primary, What do I do Next?
I would consider myself still a newbie in Real Estate investing. I have a rental property that brings in $250 per month. The house I live in, I was able to get a modification. Now my mortgage payment is $326 PITI-H. I...