I have a private lender who is owed the full amount in a few days. He is interested in continuing to loan the money. What would you use to change the terms of the loan to extend it another year? Simple addendum? A spe...

Hello, so I'm currently lending to another investor using my LLC. I have a mortgage and note on the property in question. If I wanted to update the principal balance and terms of the note, is that something I could ju...

I started the foreclosure since the borrower stopped payment for 3 months. About 3 weeks after I recorded notice of default, the borrower requested to remove NOD because he's doing refinance and new lender wouldn't le...

Hi Fellow BPers,This is a success story about helping homeowners and profiting from a non-performing note backed by a 1st mortgage in Washington, DC. Here is the story:The homeowners had a difficult 2011 when they bot...

My tenant’s mother recently suffered a stroke. He has come to me to ask if he can put a ramp on the porch, and make other handicap accessible modifications to the house. He has agreed to pay for all of the modificatio...

Hello BP, I have a bit of a situation and I feel kinda stuck. Hoping you guys can bring some clarity with your knowledge and experience. Here it goes! I got my Home loan modification back in 2008 -during the mortgage ...

Could someone help me kick around some ideas for exit strategy development? After talking to our lender about a loan mod they've requested that we submit a package covering what's going on, how we want the loan to be ...

I’ve had a few close friends ask about how I would navigate the current real estate climate to find wholesale properties in Houston.
After looking into some patterns from the previous financial crisis, I’ve honed i...

The two year lease on our first SFR is up at the end of May and I have a couple of questions for anyone willing to give some feedback.  The lease states we may increase rent upon 30 days notice after the initial lease...

I would like to know if your credit rating (score) is lowered or takes a hit if you ask your lender for a loan modification?. or apply for a modification.
I owe $190k with a property value of $75k There is no hardshi...