All Forum Posts by: Chet Mazur

Has anyone come across a PITI calculator, that will tell you the purchase price, given a particular PITI.

Thanks.

>Chapter 7 or 13 bankruptcy

you can log into pacer.gov, and look up the case docket

I may have misunderstood your post, but I understood you to be saying that the BK court might do things for you, like restructuring a payment plan that the borrow has.

>Chapter 7 or 13 bankruptcy

you cam log into pacer.gov, and look up the case docket

I may misunderstood your post, but I understood you to be saying that the BK court might do things for you, like restructuring a payment plan that the borrow has.

See if you can purchase the HOA lien and then foreclose subject to the 1st, and HELOC. you may be able to skip trace the borrower and get their social sec (if you legally can), pull there credit and see the balances.. is the HELOC has a 250 max, you know where that is unless it's in default.

Check to makes sure there aren't any senior liens, or "super liens" like property tax.

Also, evaluate the BK risk

i AM IN THE MIDDLE OF A NOTE Purchase w/out BK.

find out the deal is with the first. They are senior to their debt, so they can crush, make sur there are's any other secured interests on the property. worth the $100 or so for a prelim title report.

 If the bankruptcy was filed just one month ago by the owner, why would the court grant the release so soon especially 

I have not seen the 2nd spin new rules. You may end-up being a 2nd for ever. I have seen bk last 2+years, all the time cost legal fees (if you have atty), but earning interest at the same time. See what the default interest rate is. Make sure all paperwork has been filed correctly. Many new CA laws to be aware of.  The deal I am looking at the borrower lived in NYC, but was service at the property in CA. What  that proper service.

if there is a payment plan in place, and can the 2nd position lender request for the release? Can the court order the 2nd lien to be reduced or even relinquished due to the owner being in bankruptcy? Do I run any risk of losing part or all of my investment?

How do you prevent at the trustee sale of the 2nd bidding up what they will pay. Sue you get your money, but the land is the grand prize. I have been looking at a way to foreclose and keep the land.. Deed in lieu is all I have come up with.

If you're able to find a good deal, I believe the $$$$. On my current deal, I have 0 cash in the deal, just sweat equity.

Good tools (software) helps a lot.

I found some preforeclosures in the area. If you or your friend would like to discuss and then take a look, that would be great. If you send me an email, I can send the info.

Watch that you don't do some thing that would backfire categorize you as a regulated or needing a license.

I am new the wholesale model. In the commercial word I hold off until all parties sign mutual NCND (non-compete/non circumvent.

What do my colleagues on here do?

Make sure it's not a meth lab or some other nasty.