All Forum Posts by: Mark Welp

Thanks Brent!

Hello,

I am in the due diligence phase of buying a performing 2nd lien note. The homeowner has been in the property for 15+ years and is current on the 1st and 2nd mortgage, which is good. I did a BPO (as this is my first 2nd, probably did not need to) but how worried should I be that the BPO value came in a lot less than the combined UPB on both the 1st and 2nd combined (therefore, no equity in the home at all)? I know for 2nds that you focus more on the borrower than the property, but do people worry about that (no equity on a 2nd)? Thanks in advance.

Thank you both @Dave Van Horn and @Chris Seveney

Appreciate the feedback!

What website or company are people using the most when checking the borrower's credit? (assuming you can get the borrower's name and SSN from the note seller).

Thank you,

@Steven J. Umaña is their an RSVP for your event?  Thanks