All Forum Posts by: Thomas Standen

@Jeffrey H. i had heard 1978 but i may be 2 years off on that... stranger things have happened.

I agree with Chris Seveney unless you take out the loan now you will need to need to wrap the existing financing with either an AITD, land contract, or subject to transaction. Another thing to think about is noble homes typically depreciate not appreciate you will have to calculate that when constructing your offer.  

@Mike Lowery and @Account Closed

Once your note is originated you may want to look for a loan serivcer to handle the payments for you and the seller.

@Sandy Uhlmann Due on sales clause we are seeing this left out a lot lately in loans we are servicing.

scott carson makes a great point, about focusing on non-judicial foreclosure states this will save you a ton of money and brain damage.  Oregon and California are both non-judicial foreclosure states however as Scott said it will be hard (not impossible) to find a deal out here.  Servicing companies are almost a must when foreclosing especially on Non-preforming notes, unless you have intimate knowledge of servicing and foreclosure rules...

Our office uses The Mortgage Office, which can handle everything but the REO aspect.

@Rick Edgeworth  You could service your own note if you would like however you would still have to comply with many of the CFPB requirements, or you could turn this note over to a servicing company to handle the payments, calls and compliance for you.