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Downloads…
Download the archived call (Right-Click, Save As): April 15, 2013
Call notes…
Pam Arnhold: Calculative question about a noteseller who has interesting terms on his note.
-Joe chimes in… getting 3 yes’s.
-Negotiation with Eddie and Joe…
0:37:05Paula Weisner: notesellers won’t document pay history.
0:47:00 Student wants to know how to talk with Kondaur and what to do about their asking prices.
-Sharon Lee asks about asset managers at Kondaur
-Eddie talks about reverse indexing to find other hedge funds and sources who sell notes.
0:57:44 Russ Brucks updates us on his half-down deal…
Call topics…
Topics from:
- Pam Arnhold
- Richard Cullen
- Paula Weisner
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Issue:
I have a seller interested in selling a note that has a current interest rate of 7%
The note has a clause in it that increases the interest rate to 10% in 2.5 years
The payor on the note is a retired man and won’t be able to absorb the increase
The seller wants to sell but wants to modify the loan before he does to a 7% rate with a 10 or 15 year balloon allowing for some property appreciation and debt reduction so the buyer can refi at that time or at least has time to pay down some of the principal on the note.
My questions are:
How will a loan modification effect the seasoning on this note since the payment will remain the same?
Can we quote the note prior to a mod so the seller has an idea of how much he will get?
What is needed from a paperwork standpoint to modify the loan?
Can we assist with a mod?
Pam Arnhold
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I am going back forth with Kondaur. I’m new at this. Kondaur has me give 3 assets. There are re-performing notes. Before he will send more info, he wants to put a value on them before I do my diligence. If my & his values are to wide, then we cannot come to terms on a trading price after I do my diligence. Is this normal?
If so, would you do an average on the value ? High or low ? I have read the “Working with Kondaur Capital” several times.
Thanks,
Richard Cullen
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I am having issues with sellers documenting their pay history. I don’t understand why they cant understand its importance.
Paula Weisner
Listen…
[thaudio href=’/wp-content/uploads/2013/04/April-15-2013.mp3′]April 15, 2013[/thaudio]