All Forum Posts by: Erica Baruti

@Dion DePaoli thanks for shedding light. Does that mean we can no longer collect?

Is this the same as a junior loan being stripped in bankruptcy, then the homeowner begins paying on it again? I'm still a bit in the clouds about when a judge strips or dissolves a junior lean. Does that mean the the owner of the loan/bank can no longer collect? Or is it merely stripped from the homeowner's file, but the balance still needs to be paid? And it'd be paid, for example, when the homeowner sells the house or via a foreclosure sale.

@Boyd McClean Let's assume there are no other liens. Just a clean 1st & 2nd note for the home. I'm just starting so a va is not quite in order yet, but it's definitely something I've looked into for the future. For taxes, I've been leaning primarily on the info online, so I'll make a point to start calling the county offices for the most up to date info instead.

@Mike Hartzog Thanks for the clarification. 

Oops, I put the wrong title up, it should say foreclosure instead of bankruptcy...I'm just so excited :-) about bp & npn's I goofed it up lol.

Hi Guys! I have a question that may be logical, but since it's dealing with notes, I don't want to make assumptions. If a home has high equity, and let's say I purchased the 2nd, while someone else owns the 1st. If the homeowner doesn't pay & a foreclosure needs to be enacted, does it matter if the 1st or 2nd files for foreclosure first? I'm thinking if the house has high equity then it shouldn't matter b/c we'd both get our notes satisfied once it's sold. Am I on the right track or am I missing something?

@Micah Redden I'm definitely interested in a meet up on this side of town. It's so needed. 

Thanks for the well wishes & advice @Tia Anderson & @Elizabeth Colegrove 

Hmmn, good to know @Christopher Winkler Thanks for the advice.

Looks awesome! You guys did a great job. Kudos!

@andrew carter great post!

Thanks @Dion DePaoli. So for example, if a property has a $10k delinquent tax bill and I purchase a senior note for $5k, there are no junior liens. The house is worth $17k. Am I essentially in the whole $15k? So in this scenario, I should just stay away from this note because the value isn't there, right?

Thanks so much everyone! @thomas williamson, I thought I was the only one from Loganville on here. So glad I'm not alone :-) We should connect at a local reia or meet up in the near future. I just found out about GAREIA and Atlanta REIA so I'll be attending one of their meetings soon.