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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] JBB strategy.. Posted by Ward-CA- on July 30, 2003 at 8:36 PM In Reply to: JBB Process posted by Cary on July 30, 2003 at 2:00 PM : Ward, : I am about to make an offer to an institutional lender to buy their 2nd and 3rd trust deed. Since you are quite the Junior Bene Buyer, can you please outline the JBB process so that I can safely buy the notes as a real estate investor? : As a bonus question, does the threat of the trustor filing bankruptcy further encourage the lender sell to the note? If so, how come? : Thank you for your help. : Cary =-=-=-=-=-=-=-=-=-= Cary, When I teach the fundamentals of JBB (junior bene buyouts) I use a white board and colored markers to explain the strategy and I’m able to demonstrate the unfolding events as I progress for an hour through the demonstration. At that point the board is full of multicolored lines to keep track of things. To reduce all of that lecture to an outline isn’t practical. The fact that the trustor might avail herself of the bankruptcy process to prolong her possession of the property in foreclosure can be very negative to any junior trust deed lender regardless of whether they are an instution or private parties. Each passing day increases the reinstatement amount that’s ultimately going to have to be paid to the senior lien holder. Hope this helps. Follow Ups: Re: JBB strategy.. Cary 9:31 PM, 07/30/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I am about to make an offer to an institutional lender to buy their 2nd and 3rd trust deed. Since you are quite the Junior Bene Buyer, can you please outline the JBB process so that I can safely buy the notes as a real estate investor? : : As a bonus question, does the threat of the trustor filing bankruptcy further encourage the lender sell to the note? If so, how come? : : Thank you for your help. : : Cary : =-=-=-=-=-=-=-=-=-= : Cary, : When I teach the fundamentals of JBB (junior bene buyouts) I use a white board and colored markers to explain the strategy and I’m able to demonstrate the unfolding events as I progress for an hour through the demonstration. : At that point the board is full of multicolored lines to keep track of things. To reduce all of that lecture to an outline isn’t practical. : The fact that the trustor might avail herself of the bankruptcy process to prolong her possession of the property in foreclosure can be very negative to any junior trust deed lender regardless of whether they are an instution or private parties. Each passing day increases the reinstatement amount that’s ultimately going to have to be paid to the senior lien holder. : Hope this helps. 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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