General Sub 2 Process?
I'm getting the pre-forclosure calls coming in from my letters. Let me make sure I have the sub 2 process down.
1) get info on prop, see if any equity in it, or see if they are willing to take what is owed
2) get them to call Bank and see what has to be done to reinstate their loan.
3) Do full Title search - get details on their mortg and interest. (not title insurance,right?)
4) set closing date - transfer deed by warranty deed, give $500 to go, change locks
5) send full payment with penalties and back payments to the bank, give new address
I plan to do Lease Ops on these
is this a about right?
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