All Forum Posts by: Joseph Wright

So I’ve been contacted by a “Investment Ventures” company for the past couple weeks about them purchasing a duplex I own in Montgomery County. I initially thought it was a scam but I’m trying to figure out if it is and how it would work.. If I would list the property I would do so for $350k it brings in $2400 a month in rent. Here is the email they sent me:

Here is what I was thinking. Well willing to pay $381,800 ($20K over Zillow‘s Zestimate).
When you deduct your current mortgage balance which is about $150K, that leaves us with $231,800 in equity.
Depending on your current mortgage rate, we’re willing to continue making the payment to your mortgage and paying you for your equity balance ($231,800) every month.
Let me know if you have any other questions and we can go from there. Thank you

Doubt it’s legit but don’t know what their angle would be… Thanks in advance!

Not sure if this is the right place to post. An acquaintance wants to sell me her deceased fathers house in which she believes the mortgage is satisfied but does not have the deed. The mortgage was taken out in 1981 through the Farmers Housing Administration which I believe is no longer in existence. I checked with Register of Deeds for my county and the deed was not sent to them as satisfied. They have no record of the mortgage being transferred to any other lending institution. Any advise of which direction to take would be greatly appreciated.

Thanks