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Home owner does not live in the property

  • August 09, 2016 8:15 PM
    Message # 4181390
    Hi Mahir. Base on what you said in the seminar, correct me if I am wrong but if the owner does not live in the property we should stay away for that loan. This the type of loan  that I have so at this point I guess I should consider this loan no good.    :(   I did call him at his job but he has the cell phone connected with is office number so he would not answer. I will like a 30 minute call to confirm if I should continue pursewing  this note or I am wasting time.


    Thanks,

    Marcia





  • August 11, 2016 3:35 PM
    Reply # 4184986 on 4181390
    jon musco (Administrator)

    You did a very good job so far. Like many other home owners he is avoiding you because he does not want to pay and knows his home is in foreclosure. The workout options are much greater with loans that have better criteria like equity or current first. There is not too much you can do at this point for this loan. You may have to just wait it out and hope to get a phone call before the sale is completed.

  • August 11, 2016 8:12 PM
    Reply # 4185488 on 4181390

    Hi Jon,  Thanks for your reply. Since  the Assignment of mortgage  is recorded per our conversation  in a prior forum then I will just wait and hope that my work will  pay off. 

    I guess this is one that goes on the shell for know.   :)




    Last modified: August 11, 2016 8:31 PM | Marcia Mitchell-Samura
  • October 15, 2016 10:58 AM
    Reply # 4307186 on 4181390

    "Hope you get a phone call"????  Come on, Guys, you are much more creative than that!  Let's put our heads together and think outside the box, or should I say "inside the Think Tank"?    I don't know all the details here, so I am assuming Marcia's note is the 2nd position, and the Senior Lien has started foreclosure.  What are the numbers, Marcia?  What are the details?  Let's dig in as a group, and maybe "THINK" up something nobody else has.  

  • October 17, 2016 5:30 PM
    Reply # 4310329 on 4181390
    Mahir Allan (Administrator)

    This is a complicated loan.  Setting up one of your One on One phone calls could help bring a little more clarity to the loan and from there we can set up a strategy.

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