Can This Site Be Off Any Use To A Investor?

Comments(9)

• 
  JohnMichael21st January, 2005

  A few places that will help on this issue are:
  
  http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=363
  http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=25867&forum=18
  http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=26818&forum=18
  
  TCI's product area also has some great information http://www.thecreativeinvestor.com/Shopping_Cart-index.html
  
  After you are done with this, you should also research http://www.thecreativeinvestor.com/ViewForum22-6057.html
  
  Let's get some of the basic stuff out of the way and we can take it to the next level if you wish.
  [addsig]

• 
  hardworker100216th January, 2005

  Im going to mail 30 people off the list tomm. and I will let you know if I receieve any feedback. I took the balance and found out the retail worth of the house and thats how I came about the people to contact 1st.

• 
  hardworker100219th January, 2005

  Got my 1st call this morning from a disgruntled family resident who told me the owner disapered after his moms passed away. He let me know the auction date is feb.1 and they are only 700.00 behind in payments. I was kind of tounge tied in reguards to what advice to give him in that situation. He said the owner who disapered was mentally ill and missing for quite some time now.

• 
  MissHelen21st January, 2005

  What counties are around the Poconos?
  
  
  Quote:
  On 2005-01-16 19:02, TheShortSalePro wrote:
  I read last week that Philadelphia has suspended Sheriff's Sales due to the overwhelming volume of properties.... too many people were losing their homes creating a shelter problem for the City.
  
  I also read that the Pocono Mountain region is a hotbed of foreclosure activity...

• 
  Apprentice2Him15th January, 2005

  It looks like a hard working investor should be able to sneak some deals from this list.
  
  This large of an auction should yield some bargains at the sale, but again it would require a lot of "due diligence" and some ready cash or OPM.
  
  I wish my state had lists like this. In VA we must get leads from the newspaper sites, or contact the governments for tax sales.
  
  Here, RE auctions bring ridiculous prices, often above retail FMV. Foreclosure auctions are crowded by investors, many who are "well heeled" and throw money about like it was candy at the parade. Sometimes the foreclosing bank comes in at a very high price and retains the property unsold.
  
  From this Philly list, find something in a neighborhood you like, and try to get it before the sale.
  
  Good luck!
  Dan

• 
  estatehound16th January, 2005

  impressive list.... I wish every state had a lists like this. Let us know if you were able to successfully find a deal. :-D

• 
  TheShortSalePro16th January, 2005

  I read last week that Philadelphia has suspended Sheriff's Sales due to the overwhelming volume of properties.... too many people were losing their homes creating a shelter problem for the City.
  
  I also read that the Pocono Mountain region is a hotbed of foreclosure activity...

• 
  reinatalie21st January, 2005

  We have successfuly invested in 2nd mortgage loans as well bought 2nd mortgage notes.
  
  The risk that you have with buying 2nd positions is if
  1st starts foreclosure, 2nd might be wiped out.
  In order to prevent that from happening you might have re-instate the first to start your own foreclosure. You need to have enough equity in there so that your money is protected, in case you have to foreclose and borrower declares bankruptcy.
  
  Hope this helps.

• 
  cpifer22nd January, 2005

  Generally speaking, I already know what is going on with the first mortage and have "established" realtionships with the back-end folks and managers at Countrywide, GMAC, Homecomings and, believe it or not, Ameriquest Mortage. This being said, I think my exposure is minimal in terms of facing a first mortgage foreclosue. (Wells Fargo even offered us an "assumption" on a sweet little deal on a lake house in Whitney - go figger)
  So, I do think I can offer my loss mit clients a new approach to saving their homes AND get a nice rate of return for myself and my investor group.
  
  Thanks to you all and I will be conversing with some of you in this vein later.
  
  Later,
  
  CP :-o