buying defaulted mortgages - Posted by Darrell Shepherd

import · February 24, 2002, 7:09pm

Posted by don on March 09, 2002 at 18:29:00:

Is the note still available.I`d like more info asap…

import · February 24, 2002, 7:09pm

Posted by Darrell Shepherd on February 24, 2002 at 20:09:13:

I am looking into buying defaulted mortgages, either to make them perform, or back door into owning property. Can anyone give me some insight on where to start?

import · February 27, 2002, 6:38pm

Re: buying defaulted mortgages - Posted by Selena Stiles

Posted by Selena Stiles on February 27, 2002 at 19:38:41:

I have a new client with a default commerercial note
the note is 700,000 with a 648,124.66 balance monthly
payments of 6,755.21.It is a fist position and thay want to deal now. Would you like to bid on this deal?

import · February 27, 2002, 4:52am

Re: buying defaulted mortgages - Posted by Mike Daly

Posted by Mike Daly on February 27, 2002 at 05:52:39:

I’m sure there’s plenty of other courses out there, but I found Joe Kaiser’s foreclosure course very good. He mainly has strategies for buying defaulted notes for very cheap and getting paid off in full at the auction or when the owner refinances.

import · February 28, 2002, 1:23pm

Re: buying defaulted mortgages - Posted by Darrell Shepherd

Posted by Darrell Shepherd on February 28, 2002 at 14:23:07:

I’m not scared of those numbers, but would need to know a LOT more info on the situation to bid on the paper…

import · February 28, 2002, 1:55pm

Re: buying defaulted mortgages - Posted by selena stiles

Posted by selena stiles on February 28, 2002 at 14:55:04:

Payor defalted on the Mortgage personally signed the Mortgage and the note. Mortgage held by four brothers who now hate each other, live throhgout the USA and wish to simply sell the mortgage and not foreloese.
The main reason they do not want to foreclose , there is a tax lien of roughly 40,000 and not one of them is willling to pay.Any selling price the recive for thier mortgage will be reduced by the amount of the tax lien so that the new owner can immediately pay off the tax lien-holder and commence a foreclosure quickly.

import · March 1, 2002, 3:45pm

Re: buying defaulted mortgages - Posted by cliff lunsford

Posted by cliff lunsford on March 01, 2002 at 16:45:13:

so if someone would pay $40,000 they would own the property?