Monday Session: Nov. 03, 2014

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Asset of the week

Little Rock, AR

 

Questions for the Experts

When to walk away for a tax break

 

  1. I would like to release a mortgage note on a property so I can take a loss on this year’s taxes.
    1.  Do you know where I can get a lien release form (without going to an attorney) to record with the County?

 

How to keep a PN from becoming a Sub-PN

 

  1. I have a performing note and the borrower is taking longer and longer each month to pay (10-15 days). What personal steps should I take to keep this asset from becoming a seriously delinquent (30-60-90 days)?
    1. Are there any vendors or affiliates of NoteSchool’s that can help me with this process

 

Partials and higher yield for investors

  1. I talked to an investor that was interested in a performing note. He stated he did not want 10% when I asked what yield he would want in his IRA.  He stated his financial planner gets him 28%.
    1. Can you show a note that I can get him a high return without me putting money into the note?
    2.  I know he would have a shorter term but is this do-able?
    3. How can I pitch selling a partial, any ideas?

Jo Ann Caudle

 

Sold Taxes

 

  1. If I find a note on a pool with taxes sold, and they are now past the redemption date. Does that mean the investor who bought the tax lien now owns the property?

 

  1. What do I need to know to assess this, or is this something you recommend automatically walking away from?

               Contract Language

 

  1. We are working with a servicer to put together a loan modification on a non-performing asset to bring it back to performing status

 

Our General idea is to reduce the principal, forgive some payments, and extend the term of payments.

There is a fine tuning detail I would like help with.

 

 

We structured the borrower’s payments for automated ACH payment at 9.0% rate

 

The issue that concerns me is that they could easily tell their bank to stop the ACH if they wanted to after the agreement is signed.

 

  1. Is there a good way to handle this in the mod agreement to incentivize not canceling the automated payments?

 

 

3rd Annual Appreciation Event and Note/Expo Updates

 

 

 

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