All Forum Posts by: Greg Wilkins

Matthew, I know a few foreclosure firms in NJ. They all represent mortgage servicers, lenders, etc. Are you looking for an attorney to handle a portfolio of defaults or just 1 or 2? The reason that I ask is because I am not sure if it's in their business model to handle 1 foreclosure for a private lender.

Vennessa, The lien would "ride" with the property. You would have to pay it. Maybe there is a possibility of negotiating it down. It's probably worth looking into further to find out how much it is and what the laws are regarding that type of lien in your jurisdiction. Good luck!

Michael L. And Scott Weaner thanks for chiming in. I guess anything can cash flow if you buy it right. I am struggling with wanting to start in my neighborhood vs possibly expanding my target area outside of SJ because of the taxes. I will stay patient and try to work on getting people together (contractors, etc.) so that I am ready when the deal is right. Thanks again.

Is anyone doing buy and hold in Cherry Hill, NJ? I have been looking around and am beginning to think that the property taxes make it very difficult to cash flow on a financed property. Would love to hear from others regarding this topic. Thanks!

Welcome David. I am also a SJ newbie. Good luck.

"In fee" means that you own the land and the improvements or dwellings. It is the most complete form of ownership. Whereas "ground rent" means that you are leasing the land but own the dwelling.

@jennifer lee most attorneys in PA will share their max bid prior to the sale of you call and ask them. That's why it seems like some people have "an inside track". Sorry, I don't know how the process works in SC.

Mortgage servicers will pay taxes even if the foreclosure isn't completed yet.  If you can do a search with the local county clerk to see if there is a pending action/foreclosure against the owners.  

Richard: Corelogic provides host of services for mortgage servicers, on of which is monitoring of real estate taxes so that the mortgagee doesn't lose its interest by virtue of a tax sale. My guess is that corelogic was working for the first mortgage holder and found that the taxes were delinquent so they paid them in order to avoid a tax sale. Hope this helps. Reply back if you find out for sure what's going on.

Welcome Scott. I second the notion of listening to the podcasts. They are great. Look for posts from J. Scott, he has great flipping tips. He also wrote The Book on Flipping Houses for bigger pockets. Great read! Good luck!