How much are you getting for offer this service to the homeowner?
I have set up a few of these in the past just to make a quick buck and have done them for as little as $400 and charged as much as $950 depending on how much the homeowner can afford.
I was also thinking that starting with the bankrupcy attorney would be best. The only thing with them is they always have a voice mail service, and take days to call back. I called this morning and left my name and number to see if they will call me back.
They are not behind in the bankrupcy payments because they are payroll deducted. They got behind on the current mortgage payment. I am trying to see if they will do a forebearance with them , but not sure who I should contact , The mortgage co. or the Bankrupcy attorney first or both.
I am not sure if there is equity or not, because everytime I ask the payoff amount from my Son he says they give him different amounts. They have been in the property 10 years , but I do know they re-financed at one time.
I am really trying to help them because my Son seems scared and desperate , and I think he might sign the wrong thing with the wrong person whom he thinks is going to help. He has already signed an authorization paper with a co-worker of his that is a Real-Estate agent part time, and said his broker company might be able to buy the property.
I told him when a Broker co. buys property they usually only pays about 75-80 % of the fmv, and he should be careful what he signs.
Any other suggestions or advice would be appreciated.
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"Problems Are Solutions Dressed In Work Clothes "[ Edited by rbjj on Date 06/02/2006 ]
What do you want to know about forbearances? Any course for the homeowner will be good for you also if you plan on subject to.
Why do you need a course? Get authorization from the seller to talk to the lender and then call the lender and ask about a forebearance.
How much are you getting for offer this service to the homeowner?
I have set up a few of these in the past just to make a quick buck and have done them for as little as $400 and charged as much as $950 depending on how much the homeowner can afford.
I work with Freedom Foreclosure Prevention. Let me know if you need additional info on them[ Edited by investornewbie on Date 05/27/2006 ]
Bump !!!!!!
[addsig]
Thanks so much Bargain76 for your reply.
I was also thinking that starting with the bankrupcy attorney would be best. The only thing with them is they always have a voice mail service, and take days to call back. I called this morning and left my name and number to see if they will call me back.
They are not behind in the bankrupcy payments because they are payroll deducted. They got behind on the current mortgage payment. I am trying to see if they will do a forebearance with them , but not sure who I should contact , The mortgage co. or the Bankrupcy attorney first or both.
I am not sure if there is equity or not, because everytime I ask the payoff amount from my Son he says they give him different amounts. They have been in the property 10 years , but I do know they re-financed at one time.
I am really trying to help them because my Son seems scared and desperate , and I think he might sign the wrong thing with the wrong person whom he thinks is going to help. He has already signed an authorization paper with a co-worker of his that is a Real-Estate agent part time, and said his broker company might be able to buy the property.
I told him when a Broker co. buys property they usually only pays about 75-80 % of the fmv, and he should be careful what he signs.
Any other suggestions or advice would be appreciated.
_________________
"Problems Are Solutions Dressed In Work Clothes "[ Edited by rbjj on Date 06/02/2006 ]