Forum Replies Created
March 14, 2011 at 8:23 am #33529
Hmmmm. INTERESTING? I submitted my 3ARCK paperwork back in January and the trust for my property does not even show up. Never mind the W.I.P. of which I have not seen a copy in weeks. What does this mean? Is my transaction moving forward, stalled, ignored, moving along, etc? I just DO NOT KNOW. But, I trust Bill…..November 17, 2010 at 11:09 am #33022
Stu, please check your FB messages and help me out as well. Thanks.July 8, 2010 at 8:09 pm #32475
Amy, as I said the example that you presented is different from that of a homeowner staying in the property as is in your case. That’s the reason for my comments. If the homeowner is staying in the property, I understand that the process is like you said in your reply.
Again, I do not know if the same applies when a homeowner is just walking away and giving you the property.July 8, 2010 at 6:51 pm #32473
Amy thank you for the post as this is a new approach and examples are very helpful. A couple of things from my understanding to hopefully add more food for thought for the moderator before a response is posted.
So I put the house in a land trust, and hopefully have THEM pay the fees to get it started. Then I find an investor who wants to front the 3 Arch program money. We do the paperwork and get the ball rolling.
I’m not sure that under this scenario the property has to even be put on a trust. A simple Quit Claim may do. Even if it has to be put in a trust, the cost associated to do that for us members is very low. Remember this will be a PACTrust to begin with.
The trust?? puts a new hard $ loan on it for 50% of the AMV. The funds re divvied up as is the equity if any, and we stick a RB in there to cover the pmts.etc. In three years or whatever he refinances and we all cash out appropriate to our interest in the trust.
The IB(s), NOT THE TRUST, will be responsible for either getting the HM loan or to find a buyer that would get the HM loan and assume responsibility for the rest under the trust. The ideal would be to find a buyer that would qualify immediately for a new loan at say 80%-90% FMV. In this way no wait time for the equity cash out.
1. What happens if 3A starts the ball rolling and the lender forecloses? We won’t get our $7500 back, since they’ve already started working. IS that just a risk the invesotr makes? Or am I responsible for that $7500.
It is my understanding that the $7,500.00 is fully refundable if they are not successful, regardless. With the exception, I will assume, of seller failing to provide all of the necessary information/documentation in a timely manner.
So the seller has to understand that the whole thing is just an attempt to get them out from under their situation, and not a given.
Here you must be extremely carefull AS WE ARE NOT foreclosure consultants.
And last but not least, you can always acquire this property through a SS with Bill. So there is more than one way to skin this cat.July 3, 2010 at 1:04 am #32451
Thank you for the information. I do understand and believe you 100%. I just do not see how we can take advantage of this with investors using the EHT. Are we going to be sending them a NEO??? If so, under what arrangements? It is a bit blurry for me.
Neftali.July 2, 2010 at 11:36 am #32391
Dave, I believe that Stu was looking for this one:
Is HR 1728 and HR 4173 killing you? I have a solution.
If I understood correctly, this will drive Investors to contact you for you to get a share on their transactions by introducing the EHT solution through an offer. I am still not very clear about the how the offer will be structured per se since you will be dealing with an investor who may already have a contract on a property, a renter, both or neither.
It would be of extreme benefit if this could be explained a bit further.
Neftal??.June 6, 2010 at 5:51 pm #32209
Thank you. Great article.
Now, I guess it begs the question: How does this ruling impact our way of conducting business? Be it through EHT, LFC/EHT, 3 ARCK/EHT, SS, in or outside of Utah? I would like to hear from our mentors their opinion as it relates to this matter.
Neftali.June 4, 2010 at 5:27 pm #32168
Cork, I know that your intentions are good.
I just kept on reading your post and out of over 2,000 members NO one will say a thing. I know that others have their own reasons and I would like to hear them as well. So I took the plunge. Let’s see if others will do the same and maybe we will then see more action on the board afterward.
Neftali.June 4, 2010 at 4:25 pm #32166
Ok Cork, here it is why I barely post here:
1. I do not want to be embarrassed by the moderators.
2. I do not want my posts to be deleted.
3. I get the answers to my questions in a more expeditious manner when I send them directly to Bill.
4. I am not satisfied with the bits and pieces of information given here.
5. I DO NOT have a decoder ring.
6. I DO NOT like that one day we are presented with a new solution and after we promote it to potential sellers things change, e.g., LFC.
7. I DO NOT like empty promises, e.g., SS web interface for documentation.
8. I DO NOT like to see that many questions in different parts of this board go unanswered for months.
Because all of the above and other things that I cannot think of at this moment, and more importantly my lack or fear to take any action to find out later that what I said is no longer valid, I DO NOT write in this board and EVEN WORST I have NOT been successful with any of the transactions that I have initiated.
Now, rain on me.
NeftaliMarch 15, 2010 at 11:26 pm #31504
Cork, et al,
I found this document that may be of interest to all — http://vinyasi-public-records.info/data/a4v.pdf
Neftali.March 13, 2010 at 7:13 pm #31502
After watching the A4V videos and doing some research I’ve found the A4V to be a pretty straight forward approach to take control and eliminate your debts if used “correctly”. This brings the question of what it means to use it correctly. I have not found the answer yet. If someone in this forum can expand on how one is to use it correctly, it will be appreciated.
Also there is obviously a direct correlation between A4V and UCC filing. Very obscure to me so far. In particular, what one must fill out in the financing statement of a UCC-1 to take full control of the STRAWMAN account, including all personal and real property collateral, and to establish that I’m not the STRAWMAN. Do one must fill out multiple UCC’s? Do one has to fill out a separate UCC-1 for the real estate? If so what are the parameters?
I’m not looking for legal advise but for examples, links, or the like.
Neftali.November 21, 2009 at 5:03 am #30496
How does this post help us with the NARS program? Or is it merely POLITICAL.February 26, 2009 at 1:44 am #28657
Ha, ha, ha, Scott…Great answer.
I guess that if I visit the board on a daily basis and post my questions, so that I would not be ashamed as you said during the Saturday calls, I will get this type of response.
Very nice of you,
Thank you very much…February 25, 2009 at 4:53 am #28337
Please see my response to your other posting PAC Trust.
Neftali Pazo-SotoFebruary 25, 2009 at 4:49 am #28650
Please contact me via email or PM and I will assist you. Rest assured that I will get Scott Moyes or Dave Salcido assistance to get you the help that you need.