All Forum Posts by: Michael Lauther

I have an attorney who will work on the back end of short sales in your area. PM me and i will send you her number.

Michael: I have sent dozens of Borrowers authorization letters without any ss # and have not had a problem. If the lender requires more than the mortgage number , address of the property and a short message over the borrowers signature you can have the borrower fax the lender directly. a phone call from the borrower will get you 24 hour authorization in some cases.

John , I checked out your website and registered. tried out your free analysis and believe it could be extremely useful to many here. I would like to see some of the more experienced investors check it out and give their input. when i have more time i will go back and learn more about your analysis tool. thanks and i will look for your blog.

John, I welcome your perspective on this topic.
please write the blog.

Just wanted to make a quick note to my prior post. I mention Multiple streams of income as an example of the type of training available, this I do not in any way recommend this program offered by Robert Allan. My opinion regarding all of these programs is that most are of marginal value and charge fees that border on the criminal. I have attended many meeting touting many gurus over the years an have not found any i could recommend. I did find one seminar which of course was mostly Hype from Robert Allan that answered many of the questions you posed in your post. I also found the same information on this site for free. I do NOT recommend spending 25K or anywhere near that to get this same information.

Spend a few weeks exploring this site. you will easily learn most of what you would spend the 25k on. Its not unusual from what I see for marketers of this type of material to charge this type of fee. Its a steep price for hand holding. I have also seen similar fees for programs like multiple streams of income and the like. they offer some good info but nothing you cant find right here.

John: one of my partners was given a two family property in waterbury. see my blog for more details but the bottom line is that the property is well underwater, by at least 150k, no market, the rent was 800 month for each apartment but the tenants stopped paying and need to be evicted. Waterbury seems to be a tough area with lots of vacancy and perhaps some areas where drugs are a concern. the current owner of the property in question is now in jail. this is everything I know about Waterbury.

Seller is Currently approved for short sale but title search shows $275,000 of judgments against owner who is about to go bankrupt. has anyone had success with vacating judgments, and can buyer settle with judgment holders to vacate the lean but still retain the right to go after the seller if they want to? The second mortgage agreed to take $8500 to release their lean of $250,000.

while i do not follow the entire strategy you propose, i would check for liens against the property, taxes ,water, judgments that would have to be paid when the property sells.

Good morning Jerry:

It generally takes Citi 48 hours to confirm receipt of the borrowers authorization. do not wait for them to call you. You need to be proactive and call them every two or three days until they confirm you are on the file as an authorized third party.