Inside Real Estate Investing
From the category archives:
There is an recent article I found in the New York times, “Program Will Pay Homeowners to Sell at a Loss.” In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
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When troubled homeowners and banks battled over delinquent mortgages, it wasn’t a contest. Homes went into foreclosure, and lenders took control of the property. Even so, banks and borrowers still do battle over foreclosures on an unlevel playing field that exists in far too many courtrooms. But some judges are starting to scrutinize the rules-don’t-matter methods used by lenders and their lawyers in the recent foreclosure wave. On occasion, lenders are even getting slapped around a bit. One surprising smackdown occurred on Oct. 9 in federal bankruptcy court in New York. Ruling that a lender hadn’t proved its claim to a delinquent borrower’s home, the judge wiped out a $461,263 mortgage debt on the property. That’s right: the mortgage debt disappeared, via a court order.
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When setting up your real estate investment services, there are several corporate structures you must choose from. Selecting the right one is crtical to your success. We examine the pros and cons of each one.
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Ahh, the non-circumvent non disclosure agreement. Why do we have them? If buyers and sellers will still circumvent you, what is the point? Well, for one thing, it gives those bringing the opportunity some measure of comfort knowing that there is something in writing should they have to take legal action. An NCND is designed to help ensure that the reps opportunity will not be pursued by the buyer without the reps’s involvement. However, having one does not always guarantee protection.
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