alfalogic

Ok, thank you both. Quite an entertaining discussion about how our political system works and it is considered the best in the world.

Dave I think you just enlightened me about the second step of the process, so thank you.

Let me just try to understand what you are saying here. Correct me if I got this wrong.

Because the deed and note transfer…[Read more]

Ok, let’s keep the record straight here. I am in no way trying to discredit anything. However I am trying to make sure that if I get in front of a seller (or just someone who is in trouble) and offer something than I can deliver on that promise.

As of right now, what is clear to me is that PTN strategy can delay foreclosure but not stop it or…[Read more]

Exactly, that is why I think the approach has merits. However my lawyer’s point was there was not an established case precedent at this point in time.

Ok, let’s talk about what may have changed because of securitization process.

Let’s just keep in mind that Fannie and Freddy have been doing it for at least several decades.

Over the last 10 years number of mortgages have been bought and sold numerous times with no clear final owner. In addition to that the original notes and mortgages have been…[Read more]

Actually there is none. Sorry….

There is a history how I got it though.

I have been member of this community (mostly lurker) for at least 4 years if not 5 years.

The name did not mean to apply anything superior if that is where you are heading…

As for the info, I called my lawyer and confirmed the info I wrote. /I am not one so I need to…[Read more]

Pure misunderstanding on my part. However, here is couple of points I found while doing further research.

1. Courts long held that original note is not required if there is a mortgage in place because mortgage refers to the note.
2. According to UCC s3-302, “holder in due course” /a requirement to have a standing in foreclosure/ is not required…[Read more]

Thank you, Scott

I do not blame you for being a believer. It does sound too good to be true.

Back to the reading….

I was doing some research on the LFC program and came across this.

http://www.treasurydirect.gov/instit/statreg/fraud/fraud_bogussightdraft.htm

It is not exactly the same as discussed in the program but comes relatively close.

Any comments?

Thanks, everyoneI guess I do not want to compete with “Name your price” business.Aleks

Scott,What I was asking was if you try to flip the property using a simple trust, you mentioned that you do record your option. So in that case if you did record the option and the seller tried to cut you out what would you do?ThanksAleksP.S. Sorry for not being clear in the first place.

Hi, ScottThanks for the detailed response. I was wondering if you record you option, what would happened if the seller decided to deal directly with the buyer. What would you do? Has it ever happened?ThanksAleks

Thanks,Yeah, that is not what I am asking.Since the shares are already a personality there is no need for title holding trust. However, there are still some benefits to actually do hold your assets in the trust. (privacy for one, protection from liens and judgements). What I am asking if anybody know how to place the shares in the trust if the…[Read more]

Thanks for the input.According the the corp documents there is nothing preventing me from placing my shares in the trust. In addition some of the coop owners do own the share using a trust however what I am trying to determine if I can take advantage of the Garn-St. Germain Act 1982; 12 USC 1701-j-3; 12 CFR 591-vi to be able to place shares in the…[Read more]

Happy New Year to everyone!!!Would something prevent me from placing an interest in coop appartment into a trust?ThanksAleks

Michael,Could you share your template with me as well?ThanksAleksalfalogic2000@yahoo.com

Easy, spread.Most of the people are very comfortable sharing increased rent.Aleks

Hi, ScottI started approaching Landlords as per Bill’s book. Very few are considering to sell in a couple of years, however everyone wants to increase their cashflow. So I am wondering what to offer them and how to fill out NEO and Appendix 1?I am thinking the MAV has nothing to do with the deal because the agreement is to lease it only and RB…[Read more]

Michael,Can you elaborate a little what is downpayment grant program?ThanksAleks

Tom,You obviously never done transactions in NYC. Most attorneys would not allow assignable contract in NYC. The clause exists on the standard form of the RE contract.Option contract are not widely used in NYC and looked at suspiciously. However, the trust is widely known instrument and acceptable without any issues by most attorneys.At least by…[Read more]

I am all ears, TomAleks