Nghi Le
Protecting the 2nd Lienholder Position
I'm looking to get private money lenders to loan the down payment for my hard money loans (to do flips), but I'm wondering if that puts them at a significant risk. I'd like to know how I can best protect my private l...
Gary Wong
First Trust Deeds as an Investment - Viable as a New REI?
Hi Everyone, I'm new to BiggerPockets with my main financial experience coming from investing in the stock market over the last few years, however, I want to expand into real estate investments. I am planning on inves...
Evan Gater
Does suggestion of bankruptcy always stop a foreclosure sale?
Hello,
I very often see "Suggestion of Bankruptcies" in foreclosure case dockets. While some are in good faith, it seems that some are intended to delay the sale as much as possible. Sometimes, there are multiple sug...
Jon Robinson
Working with LoanDepot on a Pre-Foreclosure
Has anyone ever worked with LoanDepot to get a loan reinstated on a pre-fore property? I am looking at a deal right now and it seems as though they have about $25k in arrears/fees, this is just an assumption accordin...
Rich Hupper
Mortgage and Bankruptcy
Can someone tell me what happens when a mortgagor files bankruptcy before a foreclosure auction takes place. Is the mortgage wiped out? What generally happens to the property securing the loan?Thank you
Andy Mirza
Assignment of Rents (Residential)?
Anyone have any experience, good or bad, with getting an Assignment of Rents for Residential Properties?We're trying our hand at this for the first time and were curious what others have done.For this particular loan,...
Account Closed
THE WORST CLIENTS FOR A MORTGAGE BROKER ARE...
As a Florida Mortgage Broker, I can say that hands down, and other Mortgage Brokers these days will agree, the worst borrowers are:1. Prior Mortgage Brokers 2. Current and prior RealtorsWhy Prior Mortgage Brokers? B...
Matt Devincenzo
Re-performing note files Ch 7
I hold several re-performing 2nds in my IRA which are serviced by FCI. This morning I got an email that a borrower that was modified ~2 years ago and has been paying since then on time ect, filed Ch7 on 12/23. I'm loo...
Angie Williams
Loan forbearance and UNFAIR Suspended Payments?
My question is when someone goes into a loan forbearance, why does the loan company put a suspension on payments?
My neighbor at one of my properties in PA missed 3 mortgage payments. Her mortgage company gave her a...
Haim Kerem
Buying a note of an asset after BK 13
Hi, I am considering buying a performing note which owner just finished BK 13. What are the implications? what is the process if owner stop paying? Thanks for helping, Haim