All Forum Posts by: Pari Thiagasundaram

@Sue Bishop You need what is called as an amortization calculator. Punch in the numbers at this website : http://www.hsh.com/mortgage-calculator.html

Click on Amortization calculator. Check the UPB yourself.

Well, you are in the lone star state :) I am not sure what the laws are for TX. If you want to cover your back and keep it safe, use a NMLO and let them originate the loan. Make sure the loan payment plus the new property tax payment is less than 41% debt to income.

@David Dachtera has a good point. 

How do you know he would be able to pay the next year's taxes if he cant pay now? If you dont help him, someone else is going to get the property. Why cant you purchase his property at a discounted price (say $100K) and sell it to another tenant borrower? Your rate of return will be much higher than 18%.

Purchase price: $100K, selling price: $160K (10K down), loan amount of $150K, 30 year fixed at 9.99% will be $1315.25

Now if you are the lender for the next tenant borrower, with the above values, just calculate the interest on the 10bii calculator. You will be in at $90K, with the 10K down, your interest will be 17.44% secured by the property.

I say, "Welcome to the note business !"

@Michael Rogers, Glad you signed up man !  Checkout Community > Forum Categories >  

You can post your REO properties @Marketplace as well. (You need to be a PLUS or a PRO member)

Good luck !

@Eric Jones, I have a question for you. Ive tried registering with loanmarket.net and it says i will have to call their 800 number to get the account activated. Called them multiple times and i get the voice message every single time.

Wondering if they are still actively selling notes? Or how did you get your account activated with them ?

Not sure if i understand correctly. I am using 10bii calculator for calculating my return on the performing notes side.

It depends what you qualify as "another party". If another party is a living trust things are different. If it is not, remember "due on sale" ?. Lender can ask for a payoff.

@Ilona Kovacs for the seconds you can look at Dave Van Horn's pprnoteco.com and http://keyholeacademy.com/ 

Wondering if anyone used distressedPro or bankprospector for purchasing NPN? Please share your experiences.

I am looking for direct source for buying NPN.

noteschool.com 

weclosenotes.com 

https://www.distressedpro.com/

Welcome to the note business !

@Dion DePaoli Yes Sir, this was not worked on after i wrote that first. Atleast it gives an idea :)