Jacob Forbis
Foreclosure with a bit of equity
Got a phone call from a direct mail piece about a property in foreclosure. Apparently the sale date for the foreclosure is set for Feb 7 and there is a lien from the HOA on the property for 3k.I estimate the property ...
Rob Smith
Has anybody heard of this
I am being contacted by people that are telling me they can help me with my upside down loan they are saying they deal with the bank and buy the loan for a very low price and then they sell it back to me at the curren...
Corey Dutton
Are Landing Platforms Like Privlo in Compliance with the SAFE Act?
Privlo is a new lending platform that connects homeowners who can’t qualify at the bank, with private money lenders. But once the website actually launches, will Privlo be in compliance with new regulations under t...
Aaron Knoll
What are good Terms for a pre-auction property?
Here's the situation:A nice house in a great neighborhood is being foreclosed on. Auction starts in 2 weeks, starting at $220k. Since it is a hot RE market, I suspect it would fetch much higher -- comparable auctions ...
John Worley
What is a Rehab Loan?
Oftentimes a subject of some debate is the reality of what is a renovation or “rehab” loan. Simply put, a rehab loan is a specialty loan program that allows the borrower to purchase a run-down home and to finance an a...
Brian Gibbons
News from CFPB re: Foreclosures and Pre Foreclosures
CONSUMER FINANCIAL PROTECTION BUREAU EXPANDS FORECLOSURE PROTECTIONSUpdated Servicing Rule Provides Surviving Family Members and Other Homeowners with Same Protections as Original BorrowersWashington, D.C. – The Consu...
Joe Henry
Would bank finance repairs on home with prior owner note still open? (foreclosure)
Here's a longer form post about my situation, but i'll summarize it below (https://www.biggerpockets.com/forums/41/topics/1163859-hoa-f...)
> Military husband/wife buy new home, divorce, stop paying note and hoa&g...
Andrew W.
Prepayment Penalties - How to Avoid - Views?
I have 8 separate 5 yr fixed rate mortgages (and P.notes) that the same bank (in Wisconsin) has made to two of my LLC's and secured each loan on a separate property. I personally g/tee these loans.
Rates have moved ...
Ryan Swan
Pursuing judgement against evicted tenant
I recently obtained a judgement against a tenant who stopped paying rent. The total judgement amount is $2,556.00 with 4.25% interest compounding yearly. The tenant is long gone, but I'm wondering if it's feasible/wor...
Jacob G.
Buying a non performing note from a bank
I have a property that the owner went into bankruptcy. How do I negotiate with the bank on buying the first mortgage note from them?