All Forum Posts by: Mimi Jaboin
Mimi Jaboin has started 1 posts and replied 3 times.
Post: Should I Bid on this Property? (Auction)
- Hollywood, FL
- Posts 3
- Votes 0
@Ruben Weber I'm fairly new to this as well. The last couple of years I've just been learning and I'm looking into acquiring my first investment property. If you have enough funds to purchase and repair the property, then sell it at a a good markup where you're able recoup all your cost and make a profit, then it's a good option. It all depends on the location and the market.
Post: Should I Bid on this Property? (Auction)
- Hollywood, FL
- Posts 3
- Votes 0
@Kim Martin Thanks Kim, I will send you a message
@Gina Stern I was thinking as you mentioned; maybe they haven't file the paper work yet and thought maybe I should wait and see. The foreclosure on the Junior lien was filed Jan. 2018. The property is in Broward. I noticed that on the filing, they also included the US Dept of Treasury as a defendant so I did a judgment search at the state and county level. I discovered there is an IRS lien attached to one of the owners for $11K filed in 2010.
Post: Should I Bid on this Property? (Auction)
- Hollywood, FL
- Posts 3
- Votes 0
Hello BP Family. There is a property I'm interested in purchasing from Auction.
From my research, here's what I was as able to gather:
Senior Lien for $172,000 from 4/15/05 assigned to Bank of NY Mellon on 12/31/17.
Junior Lien for $27,000 from 10/18/05 assigned to Bank of NY Mellon on 10/28/15.
Bank of NY Mellon is foreclosing on the Junior Lien and it's being auctioned at the end of the month. Is it safe to assume the Senior Lien is current since they didn't foreclose on it? The Senior Lien would still be intact, correct?
Final Judgement: $35,000