All Forum Posts by: Scott Johnson
Scott Johnson has started 49 posts and replied 635 times.
Post: Flood Of Pre-Foreclosures Coming - Is It Good or Is It Bad?
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Quote from @Ken M.:
Quote from @Scott Johnson:
what I mean is, where are you getting the information that states that they're on more pre-foreclosures coming? That's a topic. I would like to see covered.
"No Payment, No Cares" for FHA borrowers is coming to an end.
There was a mortgage letter released a little over a week ago that is telling us now that the Trump administration announced that they're going to be ending the relaxed FHA Waterfall from the COVID 19 era.
What is the FHA waterfall? Basically, it's a program that helped people that had FHA loans stay in their homes a lot longer than they otherwise would be able to, by paying their mortgage payment for them.
If it wasn't for all the financial assistance from the government, many more foreclosures would have occurred during this time. The government has been intentionally withholding on foreclosing on FHA borrowers.
But since the beginning of the year that has started to change.
Now, the foreclosure process is starting up again.
Interesting. I'm intrigued to see what happens. From what I remember, they were paying those owner's loans current and then putting a deed of trust on the homes. With that option on the table, I don't doubt that something will happen.
My only thought is that those loan balances may be a bit too high to work for a lot of investors numbers. But we shall see 😄 I appreciate you, Ken! Great info!
Post: Scammed by "Estate Legal"
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Well looky there! EstateLegal.com is no longer a valid web site. It never fails. When flick on the light, the roaches like @Christopher Johnson, the one signing the contracts for Estate Legal's bogus Lead Generation Services, scatter. 😂
Another update! I'm working with the North Carolina Real Estate Commission to build awareness. Not sure how much good it will do since they're going into hiding, but I've spoken to over 20 people that they've hit, so their appetite is whetted and they'll be back for more, I'm sure, but under a new guise. Expect that @Christopher Johnson & William Silva are not their true names and they'll be changing everything so no one will know them from Tom, Dick or Harry.
I'll be continuing efforts to identify them which includes locating them based on the IP information that I've collected. I'll be able to identify where they are, who they are and can track them much better.
All eyes are on you @Christopher Johnson. You got one over on us this time, but you'll get caught soon enough. 🙂
Post: Flood Of Pre-Foreclosures Coming - Is It Good or Is It Bad?
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
what I mean is, where are you getting the information that states that they're on more pre-foreclosures coming? That's a topic. I would like to see covered.
Post: Flood Of Pre-Foreclosures Coming - Is It Good or Is It Bad?
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Where are you getting this information?
Post: I need Exit Strategies help
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Juice, so 288K. Don't know your basis at I have no idea what you're going to end up paying in taxes.
Did you already talk to a broker to figure out how much you could sell it for on the open market?
Post: When to buy
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
By the way, I'm from Crystal Lake originally 😜
Post: When to buy
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
When you need a house. 🤷🏻
Listenting to other people makes you subject to their outlook, fears and circumstances. They only say what they know and recommend how they act in their own life.
Post: Seller Financing Deal
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
North America is a big island
Post: Short term lending
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Lenders and wholesalers are two different things 😂
Post: Curious to hear from my network…
- Specialist
- Greenville, NC
- Posts 646
- Votes 395
Always do a General Inspection, WDIR and Septic Inspection.