What’s the highest foreclosure cost you have had?

[Chris Seveney]

We all have the horror stories if you have been investing in paper for any period of time.

Question / comment today is what is the most $ you have ever spent on a foreclosure?

I have one ongoing and it will probably exceed $20k when all is said and done?

How about you?

[Jay Hinrichs]

@Chris Seveney  if these are low value assets  IE you did not pay a ton for the note..  I guess you may want to make a deal instead of wasting time and more money with the process.

Even if you just broke even or lost a few grand. cut and run ??  

or are you paying so much for these notes that its simply not an option.. 

this was not a note sale.. but a few years ago I advanced 50k to  land owner ( i say land since the houses was bulldozer bait LOL) so i knew i just wanted the lots underneath it..  and she would never close.. so for that amount of money I did go through the court system for specific performance.. that cost me 20k and 2 years.. However big up side build 3 700k houses on it..:)  And that seller basically did not defend herself she just ghosted.. I can assume if it was a full blown donny brook 50k would have been easily spent.

But when I did a bunch of foreclosing s back ibn 09 through 2011..  easy trust deed states like MS were 800 to 1200 and done in 90 days or less..  mortgage states 9 months to a year and 2 to 4k. like everyone else..