I just got a message from a response to a letter I sent out 2 days ago.
I am researching his records…he paid 175…and i think the area is only worth 160??? I returned the call, but right now i don’t know any specifics.
I have been reading all the posts…so if I can get a short sale…basically that is my only hope for this one? Want to appear calm…but honestly very nervous!
Hello Avalon,
I know how you feel, I had the same concern when I got started. Here is an article that I pulled from the article section that may help you.
http://www.reiclub.com/articles/started-phone-homeowner
good luck!
JK33
Hi John, I am returning your call in regards to the situation with your house, is anyone offering you any assisitance?
You said you owe 175 and the area comps say 160 so you are over leveraged here.
How much is the monthly payment?
how much do you bring home in salary?
what other out goings do you have?
it looks like you cant afford this house really John, I suppose you would just like to walk away from this burdon if you could yes?
It doesnt fall into may cash buy criteria but if you would like me to I could negotiate the debt with your bank and see if they would take less in order for me to buy it, would that be something of interest to you?
That means I can sell the house and relieve you of this debt, is that what you would like me to do?
something like that?
Sorry, wrong John.
Hi ( what ever your name is ) I am returning …
I am in the foreclosure business and hard money business.Here is the answers all of your question. If in foreclosure … find out how much time you have before sale date. Ask for all liens amount, arrears, prepayment penalty .Find out value of home. Total of all loans divided by value will give you loan to value. On average 65 to 70% most private money investors will lend. They go by this equation. Fico is a concern but it is not an issue. You can send all the mailers you want, but if you do not handle it right you will not maximize your time and profit.Hud Predicted 40 million foreclosure in USA for the next 5 years. Make a plan and work that plan. Just trying to help you keep the cost down.
Thank you so much!!! I love the script…and the equation I will use
Disappointed…keep getting voicemail when i return the call…
These people are in a daze or in denial. Help those that want to be help.When confronted they will either fight or run. Have a nice weekend.