How Long After a Short Sale Can a Lender Go After Me for the Difference?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesApr 16th, 2010 | one response
Don’t you feel like it seems like the short sale game is changing on a daily basis? One day the government comes up with a new program that states our sellers are not liable for the tax portion of the forgiven debt only to find out that again they wasted the Tax Payer’s money (our money) because only a tiny pool of homeowners actually qualify! Listen in as I go over how long after a short sale transaction that a lender can go after our clients (the homeowner(s)), what to do when you are negotiated a short sale only to find out the lender requires the property be listed by a licensed real estate...
Can A Homeowner Do A Short Sale If They Are Current?
Posted by Patrick Precourt in Business, Investment, Marketing, Preforeclosure, Real Estate, Short SalesApr 9th, 2010 | 4 responses
There is a lot of misinformation in today’s real estate world and one of the biggest ones revolves around the question of whether or not a lender will take a short sale or discount their total amount owed to them when a homeowner is current on their mortgage. Make sure you listen in as we uncover what lenders are doing today as opposed to last year, the best ways to create monthly cash flow while being a short sale investor, the inside tricks to “Managing a BPO” so you get your desired outcome, whether or not a lender can tell a seller what he or she “has” to list their property at and...
Not Paying Attention to Detail Can Land You in Hot Water!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateFeb 11th, 2010 | 3 responses
As a real estate investor, paying attention to detail is one of the most important things when you are running a successful real estate investing business. Listen in as we tackle a challenge that one of our Coffee Breakers is going through on a short sale deal. We also cover the “ONLY” Real Estate Documents that you need in your car at all times so you make sure you never miss a deal, the best options on getting paid in a retail short sale that goes A to C, whether or not your homeowner can get both a 1099 and a deficiency judgment on a short sale transaction, and much much more. Visit...
Beware of Realtors Who Learned Short Sales Through A Certification Course!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 28th, 2010 | one response
On this week’s Friday Coffee Break we touch upon the little known facts about dealing with real estate agents that have learned short sales through a half day certification course. Could they possibly be the expert after half a day? Who knows, but make sure you listen to this video and I will let you know what I think! We also cover whether a bankruptcy list is a good list to target and where the best place to get that list is, whether or not you should cover up a mold issue that arises after an inspection, the best way to handle a 2nd lien holder when they are being unreasonable and much...
The Biggest Advantage to Having Your Own Loss Mitigation Company
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 14th, 2010 | 2 responses
On this week’s Friday Coffee Break we cover one of the biggest questions that any real estate short sale investor has when deciding how to set up their business. Questions like: Do I set up a separate loss mitigation company to negotiate with lenders and Do I put my short sale offer into the lender with my personal name on it, etc, etc. Listen in as we also cover, what Freddie Mac’s short sale timelines are in non-judicial states, what to do with rents when the seller is in foreclosure so you don’t commit fraud, why managing seller expectations is our responsibility and much, much more!...
What Short Sale Disclosures You Should Put On Your Purchase and Sales Agreements to Satisfy Everyone!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 7th, 2010 | no responses
On this week’s Friday Coffee Break we cover some exciting questions and one in particular that will give you new insight on what disclosures you should put on your purchase and sales agreements to satisfy not only a foreclosing lender but the end buyers Title Company. Listen in as we if there is any way to convince a Real Estate Agent, who is representing both the buyer and the seller, to let you control the deal, how you deal with a non cooperating BPO agents and appraisers, when and where our upcoming Short Sale Event will be held, what solutions there are for the 30 day funding issue, if a...
The Real “Facts” About End Buyers Lenders and the 90 Day Seasoning Requirements!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 22nd, 2009 | 2 responses
We have been getting bombarded lately with questions about which end buyers lenders will write a loan without a 90 day seasoning requirement! Listen in as we go over the facts and the fiction of this “hot” topic. Also listen in as we go over how Obama’s new national short sale program will or will not affect the BPO or valuation process, whether or not a license will be required in each state in order to do loss mitigation work, whether or not you can get a business line of credit when you have bad credit and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for...
The Best Way To Figure Out If A Lender Recorded A Valid Lien Against A Property
Posted by Patrick Precourt in Investment, Marketing, Preforeclosure, Real EstateJul 24th, 2009 | 5 responses
When you are searching whether or not a foreclosing lender has actually recorded their lien position is vital to the validity in today’s market. Listen in as I go over what to look for when searching title to make see if you can sneak ahead of the foreclosing lender. Listen in as I go over if a verbal offer means anything at all, why being on next week ManageMyShortSale.com call will make you thousands of dollars in residual income, what the best message is to put on bandit signs really is and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.
When To List And Re-list A Property On A Wholesale Short Sale Flip Transaction
Posted by Patrick Precourt in Business, Investment, Marketing, Preforeclosure, Real EstateJul 16th, 2009 | 7 responses
There has been a lot of confusion on when and how to list and then relist a short sale property when your intension is to buy and then immediate resell a property. Listen in as we go over how long we list a property with the homeowner before we relist it with our contractual right. We also cover, while negotiated a retail short sale whether or not we get paid when we get the short sale approved or at closing, whether or not we have “proof” that title companies and end lenders are shying away from option contracts and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.
How to Speak with the End Buyers Lender So They Don’t Screw Up Your Flip!
Posted by Patrick Precourt in Investment, Preforeclosure, Real EstateMay 15th, 2009 | one response
Knowing how to speak with an end buyer’s lender in a double close or a whole sale flip can make or break your deal! In this video you will see who you need to speak to and what to say when disclosing your short sale flip or double close. This video will also cover if there are laws regarding seasoning and flipping, the grass roots best advertising and marketing piece on the planet, the best way to get attorneys on board and much more… visit www.FridayCoffeeBreak.com for more real estate specific videos.
How to Speak with the End Buyers Lender so they don’t Screw u…
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