Comments on: Creating Equity Where There Is None

By: vincentanthony

vincentanthony — Tue, 07 Apr 2009 08:34:17 +0000

Richard,

It’s puzzling that so many second note holders are still refusing play ball when contacted about their precarious position.

By: Esko Kiuru

Esko Kiuru — Mon, 06 Apr 2009 21:03:43 +0000

Richard,

It’s puzzling that so many second note holders are still refusing play ball when contacted about their precarious position. As their losses mount, though, more will start realizing that it’s better to get 20 cents on the dollar, for instance, than nothing. What happened to the idea of “cut your losses when you can.”

By: Chris Anderson

Chris Anderson — Mon, 06 Apr 2009 15:50:43 +0000

Pretty standard concept. You have people like Brian around the country creating equity. Two basic ways they do it:

1) Make the second go away like above;
2) Short Sale;
3) Get lucky and find someone that actually has equity.

One cool thing is that short sale approval rates are going up.

By: Joshua Dorkin

Joshua Dorkin — Mon, 06 Apr 2009 14:59:41 +0000

Brian has a great strategy there, Richard. Thanks for sharing it and for helping to give the readers another tool for making money in this market.