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May 16, 2008 at 9:40 AM in reply to: Buying “mortgages gone sour” for pennies on the dollar… #205900May 16, 2008 at 9:40 AM in reply to: Buying “mortgages gone sour” for pennies on the dollar… #205928
cv2
ParticipantHi HLS,
Where can I find the list of loans from servicers as mentioned in the story? Can anybody bid on those loans?
Since you are in these kind of business, if you start a company doing this, I would be interested in participating.
ParticipantIf it falls out of escrow again, let me know. I would be interested to buy at this price point.
ParticipantIf it falls out of escrow again, let me know. I would be interested to buy at this price point.
ParticipantIf it falls out of escrow again, let me know. I would be interested to buy at this price point.
ParticipantIf it falls out of escrow again, let me know. I would be interested to buy at this price point.
ParticipantIf it falls out of escrow again, let me know. I would be interested to buy at this price point.
ParticipantHow about if you’re going to buy a place and you want to know the state of the HOAs finances beforehand?
Well in that case, read the reserve studies. That’s the best indicator of the financial pulse of the HOA. Never buy into a complex with less than 50% funded.
ParticipantHow about if you’re going to buy a place and you want to know the state of the HOAs finances beforehand?
Well in that case, read the reserve studies. That’s the best indicator of the financial pulse of the HOA. Never buy into a complex with less than 50% funded.
ParticipantHow about if you’re going to buy a place and you want to know the state of the HOAs finances beforehand?
Well in that case, read the reserve studies. That’s the best indicator of the financial pulse of the HOA. Never buy into a complex with less than 50% funded.
ParticipantHow about if you’re going to buy a place and you want to know the state of the HOAs finances beforehand?
Well in that case, read the reserve studies. That’s the best indicator of the financial pulse of the HOA. Never buy into a complex with less than 50% funded.
ParticipantHow about if you’re going to buy a place and you want to know the state of the HOAs finances beforehand?
Well in that case, read the reserve studies. That’s the best indicator of the financial pulse of the HOA. Never buy into a complex with less than 50% funded.
ParticipantThe strategy we used is to use our junior lien to force the foreclosure as soon as possible. As many of you have said, nowadays it is not good to be a junior. By forcing the foreclosure you are speeding up the process tremendously because banks are swamped with NOD and are not proceeding to foreclosure. This is also a trick on the bank because that’s unrealized loss (or maybe uncollected interest) vs real loss on the book. Once it is foreclosed, you can start collecting HOA dues on the new owner. Banks can’t sell it until the HOA dues are current.
Granted lawyers are expensive but in the long run it will save HOA money. Also as a matter of principle, if you live here, you have to be responsible and do not expect others to take your burdens.
ParticipantThe strategy we used is to use our junior lien to force the foreclosure as soon as possible. As many of you have said, nowadays it is not good to be a junior. By forcing the foreclosure you are speeding up the process tremendously because banks are swamped with NOD and are not proceeding to foreclosure. This is also a trick on the bank because that’s unrealized loss (or maybe uncollected interest) vs real loss on the book. Once it is foreclosed, you can start collecting HOA dues on the new owner. Banks can’t sell it until the HOA dues are current.
Granted lawyers are expensive but in the long run it will save HOA money. Also as a matter of principle, if you live here, you have to be responsible and do not expect others to take your burdens.
ParticipantThe strategy we used is to use our junior lien to force the foreclosure as soon as possible. As many of you have said, nowadays it is not good to be a junior. By forcing the foreclosure you are speeding up the process tremendously because banks are swamped with NOD and are not proceeding to foreclosure. This is also a trick on the bank because that’s unrealized loss (or maybe uncollected interest) vs real loss on the book. Once it is foreclosed, you can start collecting HOA dues on the new owner. Banks can’t sell it until the HOA dues are current.
Granted lawyers are expensive but in the long run it will save HOA money. Also as a matter of principle, if you live here, you have to be responsible and do not expect others to take your burdens.
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