All Forum Posts by: Terence Wang

Hi @Rob,

The trust deed was purchased through a broker and they served the loan and filed foreclosure. I only signed a paperwork to change the trustee to foreclosure trustee.

It is a rental property in CA and my loan was a refinance to save the borrower from trustee sale. I was suspicious that it might default. LTV is 50%. So even if nobody bid, I am ok to take it back and sell through MLS.

Hope it helps.

Terence

I had a foreclosure last week. The property was sold over principal+interest +foreclosure cost. So it turned out I made more money this way with additional late fee and higher interest rate.

I try to find my own borrower but I remember CA requires to have the license in order to do this legally and collect underwriting fee. Working with a broker seems a lot easier.

If you take the whole note, it there a place to resell it on the market with a premium? Is there a marketplace for note sales?

Count me in, please.