InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Code References 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: SALE PROPERTIES GOING BACK TO BENE'S??? Posted by Jerry - Ca. on September 27, 2006 at 2:08 PM In Reply to: Re: SALE PROPERTIES GOING BACK TO BENE'S??? posted by ellis on September 26, 2006 at 12:54 AM : : : : If that were the case - wouldn't this be the time for Junior Bene Buyouts? Why pay cash at the auction - when you can buy out the second for a few thousand, bring the 1st current and then foreclose as the second lien holder? : : +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : Hello to "The Short Sale Realtor": : : You're absolutely 100% correct that now is the time and also the forseeable future to do : : Junior Bene. buyouts!!! : : I was responding to an inquiry about the Trustee Sales, not other timely ways to make money! : : Regarding Junior Bene. loan wipeouts ... The lowest example I gave was in high $70K's ... : : about 10-20% of the fair market value of the properties today. An institutional lender : : made the loans based on 100% of value ... (most were lent) in 2005! While I grant you property : : values have dropped here in San Diego in the last year ... the value drop in nowhere near that : : amount. : : I guess what is a good deal or not a good deal is in the eye of the beholder! : : Jerry : Here is a post from Ward regarding the timing of the Jr Bene Buyout strategy. http://www.foreclosureforum.com/mb/messages/17625.html ++++++++++++++++++++++++++++++++++++++ Ellis: If you're trying to make money on the disconted note ONLY ... you would want a seller's market to assure sale of the note at face value. If you're buying the note as a tool to back-door ultimately buying a foreclosure property ... I'd want a Buyer's market! "Why pay cash at the auction - when you can buy out the second for a few thousand, bring the 1st current and then foreclose as the second lien holder?" Jerry Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : : : If that were the case - wouldn't this be the time for Junior Bene Buyouts? Why pay cash at the auction - when you can buy out the second for a few thousand, bring the 1st current and then foreclose as the second lien holder? : : : +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : : Hello to "The Short Sale Realtor": : : : You're absolutely 100% correct that now is the time and also the forseeable future to do : : : Junior Bene. buyouts!!! : : : I was responding to an inquiry about the Trustee Sales, not other timely ways to make money! : : : Regarding Junior Bene. loan wipeouts ... The lowest example I gave was in high $70K's ... : : : about 10-20% of the fair market value of the properties today. An institutional lender : : : made the loans based on 100% of value ... (most were lent) in 2005! While I grant you property : : : values have dropped here in San Diego in the last year ... the value drop in nowhere near that : : : amount. : : : I guess what is a good deal or not a good deal is in the eye of the beholder! : : : Jerry : : Here is a post from Ward regarding the timing of the Jr Bene Buyout strategy. http://www.foreclosureforum.com/mb/messages/17625.html : ++++++++++++++++++++++++++++++++++++++ : Ellis: : If you're trying to make money on the disconted note ONLY ... you would want a : seller's market to assure sale of the note at face value. If you're buying the : note as a tool to back-door ultimately buying a foreclosure property ... I'd want : a Buyer's market! : "Why pay cash at the auction - when you can buy out the second for a few thousand, : bring the 1st current and then foreclose as the second lien holder?" : Jerry Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2006, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455