preforeclosure
i am new to foreclosures but have figured out alot by my self but i still have some questions like what are the key questions to ask the homeowner and do i need to make the missed payments to assume the loan and do a quick flip any help would be greatly appreciated 
Moneyhead, you said you "figured out alot of this on your own?" But you don't know weather you need to make back payments or assume the loan? Little Brother, you've got more work to do. Don't worry about what to say for now, just sit back & read every bit of this forum for about 3-months, then & only then, ask what to say OK? Please DON'T take this the wrong way, I'm only trying to save you alot of door slams & embarrassment. But, most of all, alot of wasted time & energy. Take it slow & start over again. Riggs.
moneyhead,
Welcome to TCI!!
When you are dealing with pre forclosure you do not assume the mortgage. You can sign a contract to purchase with the debtor that would allow you to bring the payments current to avoid forclosure. Do your research at the county courthouse regarding liens on the property and make sure that there is equity in the property and the #'s are right. This is only one way to go about aquiring the property. You will find many people on this site that will be more than willing to answer your questions and help you get started. No question is too dumb to ask. With the amount of info on this site regarding pre-forclosures you would have to be a really slooooooooooow reader to take 3 months to learn. The best way to learn is to do it!! Get out there and get your hands dirty. You may screw this up a couple of times but you will get it!! I am assuming that you are here to make money!!! As far as getting a door slammed in your face: You might as well get that part over with because no matter how good you are it's going to happen sooner or later. And if someone tells you that they never had a door slammed in their face it is only because they have not knocked on enough doors!!Usually there are many others out there that have the same questions that you do and will learn from your questions. Thanks for your post!
ps: if you are new to REI you may want to look into "bird dogging". There are many good articles about this and is a great way for a newbee to learn the business.
Happy Hunting,
Repoman [ Edited by RepoMan on Date 02/18/2003 ]
Hey riggs maybe you should remember this saying"if you tell a wiseman something he did'nt know, you only make him wiser" so read that for for 3 months
Hello Moneyhead,
email me here at tci, I've got something I thought you'd like to see just for some laughs.
Hey Motorhead, something told me you would take that the wrong way, but I had no Idea you were a complete BLOCKHEAD! I know your type, you know everything already, but you just want to see if we are all as smart as you right? Hey Ive got a book for ya, It's called...Foreclosures for IDIOT'S!!! Oh, were you saying you were a wiseman? A wiseman, learns to take constructive critisism. But, I know....You like shortcuts. Riggs
Hey, you guys need to relax and have a little fun!!!!
Riggs, why dont you tell us a little about the book (Forclosure for Idiots) and how you came across it. I am sure that there must be something in there that you learned that you could possibly share with us all.
Repoman