InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: A marginal deal Posted by Ward-CA- on February 18, 2002 at 7:16 AM In Reply to: PreForeclosure - 2nd Won't Cooperate posted by mark on February 16, 2002 at 2:50 PM : Here is my Pre Foreclosure Situation. : 1. Couple has nice house worth 113K in foreclosure. : 2. About $7,500 to reinstate....75K to pay off 1st FNMA. : 3. 4k in back taxes. 5k max for repairs. : 4. Private 2nd for $8,500. : 5. Owners CANNOT STAND couple carrying the 2nd, and want me to get the house....owners already have new trailer and three acres and are very happy where they arenow. : 6. I called couple with 2nd and offered $1500 for their note. They laughed and said they will get the house. : 7. Sunday 17th I will get a quit claim deed from owners but this deal is not so good if I can't deal with the private 2nd. : 8. What are my best options if the private couple doesn't want to deal....??? : 9. The house is in a nice area and should sell or lease option fast... : IS THIS DEAL WORTH IT FOR ME =========== Mark, at most this deal might make you about $5K, not worth all the effort, risk and expense. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Here is my Pre Foreclosure Situation. : : 1. Couple has nice house worth 113K in foreclosure. : : 2. About $7,500 to reinstate....75K to pay off 1st FNMA. : : 3. 4k in back taxes. 5k max for repairs. : : 4. Private 2nd for $8,500. : : 5. Owners CANNOT STAND couple carrying the 2nd, and want me to get the house....owners already have new trailer and three acres and are very happy where they arenow. : : 6. I called couple with 2nd and offered $1500 for their note. They laughed and said they will get the house. : : 7. Sunday 17th I will get a quit claim deed from owners but this deal is not so good if I can't deal with the private 2nd. : : 8. What are my best options if the private couple doesn't want to deal....??? : : 9. The house is in a nice area and should sell or lease option fast... : : IS THIS DEAL WORTH IT FOR ME : =========== : Mark, at most this deal might make you about $5K, not worth all the effort, risk and expense. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455