Posted by Matthew on August 13, 2007 at 09:09:40:
As the “donald” said “Stay in the home, even if you can’t pay” and I concur that the investor can negotiate with the banks on making agreeable terms. the banks don’t want the homes they want to get paid and if he can make payments they can do a reammortization to keep it in the black.
Property Investor lookinfg for advice - Posted by jim
Posted by jim on August 12, 2007 at 09:49:24:
Hello there,
I’m just getting into the realestate investment market and looking for your expert advice on how I should respond to this individuals request for help. How could this person be helped? Thank you-Jim
The message I received: Im a property investor and I have three rental propertys. Im lookin for advice or help,I have the adjustable rate mortages on all my houses and my rates are going to adjust next year sometime. No mortage company can help me with my situation because theres no equite in my houses ive had my houses for a year and a half.
If I cant find help I will have to sell my propertys or file for bankruptsy if you know other investors lookin for propertys have them contact me.
Re: Property Investor lookinfg for advice - Posted by Jimmy Culler
Posted by Jimmy Culler on August 13, 2007 at 19:31:03:
I guess you could do a short sale or work a forebearance for him if he gets behind on payments.
Aside from that, I cant see buying the places for him.
Perhaps he could find tenants at higher rents to get some cash flow and then sell them over to you?