Comments on: Investors Working on Foreclosure Deals: Avoid Fraud Suspicion - Disclose! http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/ Learn, Network, Invest Wed, 08 Oct 2008 00:50:12 +0000 http://wordpress.org/?v=2.6.1 By: CDB http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-58556 CDB Tue, 22 Jul 2008 04:07:14 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-58556 The problem with this article, as it is very informative in explaining how to do good business, is it fails to address the underlying problem of why the homeowners are in foreclosure status in the first place. Typically homeowners are in foreclosure because for whatever reason, they simply can not make the payments anymore. In such a case, a shortsale is probably the best solution to get the homeowner freed from the mortgage, the loan of the books for the bank, and (hopefully) a hugely discounted property for the exit strategy of your choosing. The problem with this article, as it is very informative in explaining how to do good business, is it fails to address the underlying problem of why the homeowners are in foreclosure status in the first place.

Typically homeowners are in foreclosure because for whatever reason, they simply can not make the payments anymore. In such a case, a shortsale is probably the best solution to get the homeowner freed from the mortgage, the loan of the books for the bank, and (hopefully) a hugely discounted property for the exit strategy of your choosing.

]]> By: Real Estate Investment: December 15/07 Articles « Canadian Mortgage Advisors Network http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-58122 Real Estate Investment: December 15/07 Articles « Canadian Mortgage Advisors Network Fri, 04 Jul 2008 19:27:02 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-58122 [...] Dorkin presents Investors Working on Foreclosure Deals: Avoid Fraud Suspicion - Disclose! posted at Real Estate Investing For [...] [...] Dorkin presents Investors Working on Foreclosure Deals: Avoid Fraud Suspicion - Disclose! posted at Real Estate Investing For [...]

]]> By: Carnival of Real Estate http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-57185 Carnival of Real Estate Mon, 02 Jun 2008 23:52:59 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-57185 [...] ‘Investors Working on Foreclosure Deals: Avoid Fraud Suspicion - Disclose!’ by Jim Watkins of BiggerPockets Blog [...] [...] ‘Investors Working on Foreclosure Deals: Avoid Fraud Suspicion - Disclose!’ by Jim Watkins of BiggerPockets Blog [...]

]]> By: Foreclosure Scams on the Rise http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-53713 Foreclosure Scams on the Rise Wed, 16 Jan 2008 21:07:36 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-53713 [...] Jim Watkins is emphasizing the importants of full disclosure and participation of all [...] [...] Jim Watkins is emphasizing the importants of full disclosure and participation of all [...]

]]> By: Everything Finance http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51985 Everything Finance Fri, 02 Nov 2007 12:38:32 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51985 <strong>Carnival of Everything Finance: # 6 Edition</strong> Welcome to the November 2nd, 2007 Edition of Carnival of Everything Finance.We had over 80 really good articles submitted for this edition.Editor favorites have a " Carnival of Everything Finance: # 6 Edition

Welcome to the November 2nd, 2007 Edition of Carnival of Everything Finance.We had over 80 really good articles submitted for this edition.Editor favorites have a “

]]> By: Real Estate Investor Girl http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51942 Real Estate Investor Girl Wed, 31 Oct 2007 00:41:42 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51942 Thanks for explaining. What gets sticky is when the tenants are over their troubles in a year or two, and forget how they were rescued by you, and were able to stay in their house. It leaves too much room for them to say they didn't understand the transaction. They will think they should still have ownership rights. Even with great contracts, and full disclosure, a sympathetic judge could rule in their favor. Things like that happen. Even though I try to help the homeowner in every way I can, I don't structure a deal like that, with the previous homeowners becoming renters in their home, because of the way it opens you up for being accused of fraud. Just my opinion, I am sure you are just trying to make it a win/win for all. Thanks for explaining. What gets sticky is when the tenants are over their troubles in a year or two, and forget how they were rescued by you, and were able to stay in their house. It leaves too much room for them to say they didn’t understand the transaction. They will think they should still have ownership rights. Even with great contracts, and full disclosure, a sympathetic judge could rule in their favor. Things like that happen. Even though I try to help the homeowner in every way I can, I don’t structure a deal like that, with the previous homeowners becoming renters in their home, because of the way it opens you up for being accused of fraud.

Just my opinion, I am sure you are just trying to make it a win/win for all.

]]> By: Cricket Videos http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51916 Cricket Videos Tue, 30 Oct 2007 06:03:15 +0000 http://www.biggerpockets.com/renewsblog/2007/10/27/investors-working-on-foreclosure-deals-avoid-fraud-suspicion-disclose/#comment-51916 Yes fraud is a big problem. I know people who invested millions in a set of houses. Yet the developer went broke and they got absolutely nothing. Yes fraud is a big problem. I know people who invested millions in a set of houses. Yet the developer went broke and they got absolutely nothing.

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