Account Closed
2nd Position Requesting 1st Position Subordination
Hello,I have a flipper business associate that I loan money for rehab projects in Portland Oregon. He uses a business loan to purchase the property (historically 50-60 cents to the dollar for selling price) and I loa...
Kris Kempe
1st position and 2nd position creative financing
Can someone explain the difference between first position and second position when it comes to lending. I can make assumptions that if things happen it’s for collateral but what’s the main difference?
Horacio Gutierrez
First position and second position to foreclosure
Hello,Say there is a first note and second note on a home if they buyer gets foreclosure by the first position what happens to second position loan does he get paid by the loaner in the first position if there is equi...
Tom McGiveron
Positive Mindset!
so much has been written about keeping a positive mindset - you could literally get lost just thinking about it.
i think what's most important for alot of investors just starting out is to approach everything you do ...
Sandy Reddy
Mortgage position
Hello Everyone, I am new to BP, I am trying to understand about mortgage positions in a title search. Would be a great help if someone can provide details.
A property first mortgage is recorded on some x date
A secon...
Mark Cohen
1st position
Hi everyone, I am refi cashing out 1 property to purchase another 2. I don't qualify for a mortgage yet so after much searching I found a private lender via craigslist who would give me what I think is a decent rate. ...
Michael Prakash
Re positioning
BPer'sI would like to expand my portfolio by finding distressed properties (multi family apts) in my local ( san francisco bay area) to maximize cash flow. Where can I start finding properties with violations that hav...
George P.
second position
Suppose there is this property:
FMV 200k
1st lien 125k (with arrears)
2st lien 25k (current)
Mechanics Lien 5k.
1st one is foreclosing. Suppose someone bids 170k at the foreclosure auction - I understood that the firs...
Account Closed
Positive Escrows
Positive Escrows / Contract CandyYou may be surprised to find an extra $2,000 or so that you didn’t know you had. When taxes and insurance are included in a mortgage payment, those amounts are set aside in escrow for ...
Thomas Conway
Sellers Position
I was just introduced to Wholesaling yesterday and I have a ton of questions. But I'll keep it short for now.
Does the property I am buying have to be owned outright, or can there be a mortgage?
If there is a mortgag...