Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › Need Foreclosure Help
April 6, 2004 at 10:05 am #54
1stApril 6, 2004 at 10:11 am #7106
I have the success pack but do not feel too successful just yet with foreclosures.
tompApril 6, 2004 at 11:41 am #7107
When working with the Loss Mitigation Department you need among others things and it is dependent on the bank you are dealing with: -
1.April 6, 2004 at 1:24 pm #7108
If you’re trying to short sale the first, you’ll need all the above.April 6, 2004 at 3:18 pm #7109
Uhhhh…. Am I missing something?April 6, 2004 at 3:59 pm #7110
Back payments are approx $5,000.00 plus $2,000.00 in taxes.
Seller says he can come up with a couple of payments to help -wants nothing out of the deal except to keep foreclosure off his name.
Met with the seller last night and got two auth to release forms signed.
Shawn, Email me at email@example.com
tompApril 6, 2004 at 8:30 pm #7111
Hey! ?I’ll take a piece of that pie!
Nice going Tom!!
BillApril 6, 2004 at 8:40 pm #7112
I left messages for you on both phone numbers you left me.April 6, 2004 at 8:49 pm #7113
Tom, if you?re going to deal with Shawn on this one…ask him why in the H… he didn’t show up for his own seminar.April 6, 2004 at 9:01 pm #7114
I got stuck with the strippers!! I was dealing with 2 sick boys and mom was too sick to “mom” them.April 8, 2004 at 3:27 am #7115
Please forgive my ignorance.
I am sticking my toe in the foreclosure waters here in my area and have several potential investors lined up for NARS trusts. I’m wondering how to structure the deals. In Tom’s deal, $7,000 plus “closing costs” needed, plus any money Tom wants to pull out up front, settlor will kick in a little cash to get the deal going.
How much should the RB and the outside investor each come in with, and how would the outside investor be compensated (equity, cash flow, future appreciation…)?
You and Bill both wanting a “piece of this pie” got me trying to figure out how to set up the whole thing.
I guess I’m asking what “size of slice” you and Bill would each expect from a deal like this, as outside investors, in exchange for what size of capital input.
At this point in time I am a Success Pack owner but not a Network Member. I understand there is a pool of investors available to network members who would be interested in deals like this, and I plan on becoming a Network Member in the future and utilizing this pool. I am wondering how to structure the deals to gain their interest and participation.
Thanks in advance for your reply. I have already learned a huge amount from this discussion board.
firstname.lastname@example.orgApril 8, 2004 at 4:30 pm #7116
After a few phone calls to the loss mitigation dept and their attorney they were elated to see someone was interested in bringing the loan current.
Should have the reinstatement quote and the good thru date in a couple of days.
Will keep you all posted.
Thanks Shawn for your help no matter what Gatten says about you.
tom pApril 8, 2004 at 5:31 pm #7117
Every deal is different.April 8, 2004 at 10:13 pm #7118
>A great time was had by all and I heard that
>the “naked limbo contest” went better than expected!
>(even though the strippers were busy with me)
Naked limbo.April 9, 2004 at 7:14 am #7119
Wait a minute! I do not believe a STUD like [red]Mr. Bill Gatten[/red] and Viagra could not be mentioned in the same sentence.
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