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John has contributed to 5 posts out of 7554 total posts
(0.07%) in 1,046 days (0.00 posts per day).
20 Most recent posts:
Foreclosures »
alot of equity deal confusion Nov 14, 2007 04:44 PM
(Total replies: 4)
Larisa
You are correct in offering $300K; if you are going to reinstate the loan, rehab it and retail the house. With him only owing $250K I don't think lender would short sale it. See if the owner will partner with you or wait on his $50K until it's sold. John Thurman
Foreclosures »
alot of equity deal confusion Nov 14, 2007 04:42 PM
(Total replies: 4)
Larisa
You are correct in offering $300K if you are going reinstate the loan, rehab it and retail the house. With him only owing $250K I don't think lender would short sale it. See if the owner will partner with you or wait on his $59K until it's sold. John Thurman
Bankruptcies and Short Sales »
Short Sale offer Nov 14, 2007 03:53 PM
(Total replies: 2)
Amy
Congradulations on your short sale, the $40K discount is allmost 30%. Now as an answer to the second house go ahead with the short sale and as soon as you get a figure in writing from the lender on what they'll accept then run a round robin auction. The only paper work youi need to begin with is a option to purchase between you and the seller (be sure you disclose that the deal is based on the bank working with you) and a authorization to release information contract. John John Thurman
Flipping »
Home Equity Credit Lines and Due on Sale Clause Oct 30, 2007 03:39 PM
(Total replies: 4)
Michael
You're right about refinancing the HELOC. Allthough I'd have the seller refy and then take subject2. John Thurman
Flipping »
Home Equity Credit Lines and Due on Sale Clause Oct 30, 2007 03:38 PM
(Total replies: 4)
Michael
You're right about refinancing the HELOC. Allthough I'd have the seller refy and then take subject2. John Thurman |
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Thu September 9, 2010 11:48 AM (78 ms.)