All Forum Posts by: Alex Locklear

I want to take over a house subject to but the owner is spanish speaking only. Her young son can translate, but I want to make sure she under stands what my intentions are. Is there paper work that is in spanish I can have her read and sign? Or should I find a professional who can translate to her?

House is worth 100k, balance is 60K; will cash flow at least $200/month.

The lady told me the husband signed a consent order saying he agreed to sell the house. Does this make the situation any easier or is it still NO DEAL unless I can get his financial stuff?

Also, it's a divorce situation and is very messy. The woman wants to short sale it and avoid foreclosure, but the husband is uncooperative and will not work with anyone.

What can I do in a situation like this? They both are on the deed.

So should I try to get the second one shorted first?

I'm getting ready to start a short sale package. The owner has a first mortgage of 344K (including back payments, lawyer fees, etc) and a second HELOC of 135K. House was appraised in September of last year for 620K. House has been listed with a realtor for 550K, then reduced to 525K. The realtor, however, has not tried for a short sale.

What happens to a second mortgage on a short sale? Is this usually wiped out or does a whole different foreclosure take place?

Thanks

Does anyone know how to pick up REO's before they hit the MLS?? Is it true that one must wait until it goes to MLS to put in an offer?

Nick, Do you offer coaching?

Justin, did any of your deals ever close?

I'd also like to know how to go about getting 30 60 90 day mortgage defaults...anyone?

Are short sales on the MLS worth putting offers on?? Or is it generally hard to flip a short sale that is already listed with an agent?

Thanks