Lemme ask you something. (Real life karma/ money)

[Lestat]

shit i'll buy it... ask them how low they'd go to stay in it as renters...

i'm serious. I can at the very least hook them up with a buyer in 24 hrs if they'll sell at a loss

you mean sell below market, not at a loss, correct?

 

[jnevin]

seriously? Why is that?

Because it has to close in two weeks and appraisal(s), title, and underwriting on million plus properties in UT don't go through that quickly.

 

[jafo]

do the deal so they can keep the house if he just went back to work and can afford it if he can just get caught up then this should be a no brainer .....make the deal make the money...and if you feel bad about it then in 6 months when he is ready to get out of the hard money loan you can do the refi on it and cut him a deal on the fees ...if you are not up for it ... i will do it (sounds like a win win to me )

 

[feisty11975]

Because it has to close in two weeks and appraisal(s), title, and underwriting on million plus properties in UT don't go through that quickly.

ok...I had a blonde moment. hahaha


He may have an investor that has the funds readily available

 

[feisty11975]

do the deal so they can keep the house if he just went back to work and can afford it if he can just get caught up then this should be a no brainer .....make the deal make the money...and if you feel bad about it then in 6 months when he is ready to get out of the hard money loan you can do the refi on it and cut him a deal on the fees ...if you are not up for it ... i will do it (sounds like a win win to me )

greedy people around here. hahahaha

hell, can I be the processor on the loan just to get in on the deal? I am good

 

[jafo]

greedy people around here. hahahaha

hell, can I be the processor on the loan just to get in on the deal? I am good

not greedy ...I am just not scared to make real money and succeed in life
you have got to take some chances

jnevin just do the deal for your friend and help them keep there house …sounds like they have been through a lot and they could use a break.

 

[bw1]

The first is NOD, the second has added penalties and interest as if NOD was filed.

Not framiliar with Utah, but I work NOD's and Foreclosures in California. The second is in a week position. He can try to add what he wants, but he could get squashed. If the bank takes it they get their's and the second gets what's left over if anything. The first is going to sell it to clear there debt. In other word the'll just dump it to get their funds. There in the business of loaning not owning. The second would have to "buy out" the first then foreclose. Have the buyer tried to talk with the current lender with the 1st lein. They can ask for a "Forbearance" which allows the home owner to make payments based on their current finacial situation or possibly even a temporary suspension of the payments. There's a ton of equity there. Hard money if they have to, but that may dig them deeper.

 

[jnevin]

do the deal so they can keep the house if he just went back to work and can afford it if he can just get caught up then this should be a no brainer .....make the deal make the money...and if you feel bad about it then in 6 months when he is ready to get out of the hard money loan you can do the refi on it and cut him a deal on the fees ...if you are not up for it ... i will do it (sounds like a win win to me )

That's what I'm thinking. Like I said, I had someone call me a vulture because I can do this for him, the investor will charge him what he feels is fair for the risk. I don't deal with hard money usually, I've called everyone I know and a few I don't, and this is the best I found. I just needed to be told,"Jnevin, it's all good. You're not the devil."

 

[jafo]

Not framiliar with Utah, but I work NOD's and Foreclosures in California. The second is in a week position. He can try to add what he wants, but he could get squashed. If the bank takes it they get their's and the second gets what's left over if anything. The first is going to sell it to clear there debt. In other word the'll just dump it to get their funds. There in the business of loaning not owning. The second would have to "buy out" the first then foreclose. Have the buyer tried to talk with the current lender with the 1st lein. They can ask for a "Forbearance" which allows the home owner to make payments based on their current finacial situation or possibly even a temporary suspension of the payments. There's a ton of equity there. Hard money if they have to, but that may dig them deeper.

this is good advice too .....they have a couple of options .....how much do they need to get caught up and have a small cushion

 

[Lestat]

Not framiliar with Utah, but I work NOD's and Foreclosures in California. The second is in a week position. He can try to add what he wants, but he could get squashed. If the bank takes it they get their's and the second gets what's left over if anything. The first is going to sell it to clear there debt. In other word the'll just dump it to get their funds. There in the business of loaning not owning. The second would have to "buy out" the first then foreclose. Have the buyer tried to talk with the current lender with the 1st lein. They can ask for a "Forbearance" which allows the home owner to make payments based on their current finacial situation or possibly even a temporary suspension of the payments. There's a ton of equity there. Hard money if they have to, but that may dig them deeper.

wow man you know your shit

i live in california, any chance you could hook me up with a forclosure deal in California? I could come in with a substantial amount of cash (100K?)