Replies to This Discussion

Permalink Reply by Ben Benita on March 18, 2010 at 4:08am

Depends how close the $3k is, but, we lost 2 properties about 6 months ago b/c of head up their ________ collection companies. Aside from negotiating, the best thing we have done is to start working with investors that can close all cash AND pay off ignorant colelction cmopanies. Again, this is not fool proof, BUT, if you can get the numbers to work, it will help your client avoid foreclosure, and, help you get paid on teh short sale.

Permalink Reply by Pam Patterson on March 18, 2010 at 4:22am

Ben - are you talking about doing the ab-bc transactions? let me know...tx, pam

Permalink Reply by Ben Benita on March 18, 2010 at 8:11am

for investor scenarios, where the second is not cooperating, absolutely.....A sells to B, B sells to C. What I am NOT talking about however, is what is referred to as a "double close", where A buys from B, then, B sells to C on the same day (title here never gets recorded). I have been warned repeatedly against doing these and suggest you do as well if you want to sleep well at night.

For the A to B to C, again, A sells to B (an investor or investor group), B records and holds title for a few days, then, sells to the C or retail Buyer thereafter. Again, if the negotiated amount is there, this works PERFECT for helping to get around issues with second liens. You can contact me directly with questions - [email protected].

Permalink Reply by Amanda Lynn Smith on April 20, 2010 at 6:44am

Couldn't get Chase's people to negotiate either. Two different companies have managed the second for Chase. They were offered $3,000. The first company said Chase would not sign off unless they could get 30% of the amount owed. The second company that got it said that Chase wouldn't talk unless it was 40% of the balance owed. Good luck. If you figure it out please let me know.