real estate finance forum
First however excluded and second lien was written off profit and loss account is closed (MN) …..?
So How does an investor to buy the lien on a second discount amount? I've been searching online and came across this scenario on the "investment Creative Real Estate Forum "exclusion was first and my partner and I gave the second lien holder of $ 5,000 for his ticket for $ 20K. He said he would make up the arrears in the same first and be allowed to have the first issue of financing, legally. It was a hard money lender, and said it was a form approved by him to get the first sub2 and do not result in sales due to "Is this something I can do if I have an 'investor' ready to buy the house and cash on me?
When a property is foreclosed, and lien holder is the first that is doing the foreclosure, then the second and third and fourth (etc) get wiped in foreclosure auction. What an investor to do is buy / tie the defaulting owner's property and see if you can rule out the first and second. The second most likely agree with a small amount (usually 7-10 percent) because once you lose all property obtained through foreclosure. The first accepted a 20 percent success. Now what you have said is that the holder of the second note indicates that it will be the owner of the property by buying the person in default and take over the top of loan payments and make it current. Therefore, not interested to sell his note to investors. Investors in this example were idiots for not controlling the first property or the owner will not sell. Investors were waiting to buy the second note with a discount and supply in the auction and the property owner with a minimum of 15 k more than what equity the homeowner had in equity. You can purchase any note when approaching the lender containing the note and make an offer to buy it. You will need money for that. In addition, to clarify the contribution reference, you can purchase the property "subject to" existing taxes and loans. Taking the property "subject to" means that you will over the payments, but the former owner remains responsible for the loan (s). So if you stop paying the mortgage and trust in fact, the credit institution will happen after the former owner and start foreclosing on the property. Buying a property "subject to" existing loans is a how someone with no money and / or credit can get into a house and own it. The holder of the second note was buying the property owner defaulting on the theme "to the clause. I either confused or helped you. Anyway, I just save hundreds of dollars in real estate infomercials night!;) E-mail if have any questions. Regards
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