All Forum Posts by: Elio L.

@Wayne Brooks 

Other than a deed in lieu, is there a way to get the deed to the property without foreclosing? And if we do have to foreclose, are there ways to increase the odds of getting it back at the foreclosure auction? 

@Wayne Brooks 

He got the FJ about 7 years ago. 

@Wayne Brooks 

It was a foreclosure action. The seller doesn't want to foreclose and possibly have to deal with the hassle of selling a distressed property.  He lives hours away and just doesn't want to deal with it. 

The note does have a corresponding recorded mortgage against the property. He had a sale date set but cancelled for personal reasons. 

I have my attorneys looking into this now, but could use some of your collective insight and advice on this one. 

I've negotiated to buy a non performing 1st private mortgage. The lender has already obtained a final judgement 8 years ago, but does not want to go through the hassle of foreclosing on the property in order to get the deed. 

What's the proper procedure here in Florida? I've heard that the final judgement somehow "wipes out" the note. Are we negotiating to purchase the note, or the "final judgement" from the lender. We don't have much time to sort this out. 

Ditto. Please send me a copy. 

Experienced rehabbers here in South Florida take these properties, fix the violation, then negotiate with the city to mitigate the liens down to much less than face value. 

You may be able to resolve the issues and negotiate them yourself. Depends on what the violations are for. 

From what your telling me it doesn't seem like much of a deal. But you never know...

Copy is important, but I hear that one of the most important aspects of probate investing is simply having the wherewithal to be there when the seller is actually ready to sell the property. Most investors stop mailing much too early. 

I don't see why you can't do both simultaneously...