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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Dealmaking juniors in Silicon Valley Posted by Ward-CA- on September 06, 2001 at 6:38 AM In Reply to: Upside down in Silicon Valley posted by dealmakerdb on September 06, 2001 at 2:13 AM : Ward and anyone who has negotiated with HFC to buy a junior lien: : I have been contacted regarding a property that has close to $440k in the form of $275k 1st and $168k 2nd. The 2nd is with HFC. Property Values are now dropping in the bay area after 5 years of boom. The subject property is now worth only about $320-330k. The property has actually been listed by an agent who has tried to do it as a short sale. She has gone to the 1st and 2nd and not had much success. It looks to me the 1st has no incentive at all since they have equity. But I read that you have trainees who have had success negotiating with HFC. I have not contacted them yet but would like opinions on how to approach them. They filed NOD on July 2 so there is some time before the NTS. The trustors have no hope of doing anything. I believe that now that the market has turned there will be all sorts of properties that are in the same boat as this one. I would like to focus heavily on this method of acquiring property. : This is a fantastic website you have, Ward and I appreciate your dedication to it. =•=•=•=•=•=•=•=•=•=•=•=•= I think if you approached HFC with the current data showing this property’s current market value, and making them a correspondingly adjusted offer for their junior position, that they just might take it. Look on their trust deed and their NOD for their loan # and any reference as to which particular person within HFC is involved with the disposition of that particular loan. I predict you will be surprised by HFC’s willingness to dicker on these deals. Good luck. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward and anyone who has negotiated with HFC to buy a junior lien: : : I have been contacted regarding a property that has close to $440k in the form of $275k 1st and $168k 2nd. The 2nd is with HFC. Property Values are now dropping in the bay area after 5 years of boom. The subject property is now worth only about $320-330k. The property has actually been listed by an agent who has tried to do it as a short sale. She has gone to the 1st and 2nd and not had much success. It looks to me the 1st has no incentive at all since they have equity. But I read that you have trainees who have had success negotiating with HFC. I have not contacted them yet but would like opinions on how to approach them. They filed NOD on July 2 so there is some time before the NTS. The trustors have no hope of doing anything. I believe that now that the market has turned there will be all sorts of properties that are in the same boat as this one. I would like to focus heavily on this method of acquiring property. : : This is a fantastic website you have, Ward and I appreciate your dedication to it. : =•=•=•=•=•=•=•=•=•=•=•=•= : I think if you approached HFC with the current data showing this property’s current market value, and making them a correspondingly adjusted offer for their junior position, that they just might take it. Look on their trust deed and their NOD for their loan # and any reference as to which particular person within HFC is involved with the disposition of that particular loan. : I predict you will be surprised by HFC’s willingness to dicker on these deals. : Good luck. 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

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