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With a few small changes and updates and technological frustrations, I think I can work the blog. Whew WOO! My goal is to give updates and tips and tell some stories on how to fight the loss mitigators at these banks and win. My goal is to do this a couple times a week and you know how goals are.
Once you put it out there for people to see, you've pretty much made a commitment to keep it up. That's what I've done. Let me give my first situation.
I'm working on a house now that has a "blanket mortgage". A blanket mortgage is one that blankets or covers more than one property. So in a short sale situation, this means when you make an offer for one house, you are really buying them all. In this case 2 houses.
We're offering $6,000, yes for 2 houses. The bank says they need $9-12K Net however. We were just about ready to give them $9K net but discovered there is a $10K delinquent tax bill on the houses. That better than doubles the price. So now my new job is to get to the court house and attempt to negotiate the tax bill down.
I've tried this before but it was over the phone. No eye contact, I'm not even sure if the person I was talking to could have said yes. This time I will find somebody in an office, not a cubicle. I figure somebody sitting in a private office will have the authority to say yes, if it's possible. It is a 6 family and the county is ready to tear it down if the building orders don't start getting repaired soon. A six family, owes $10K in taxes, homeowner in foreclosure, ready to be torn down. If I only pay 1/2 of the taxes owed, do you think that will be more than if I don't buy it and it does get torn down? I think I just might have a chance to get those taxes reduced.
Like I say over and over in my live short sale training program, my short sale boot camp and every time I get a chance in my short sale coaching, you have to ask! And you can learn even more about that here All the Short Sale Queen Training Products.
If I don't ask, the county will absolutely expect me to pay the property taxes in full. And if I have to pay the taxes in full, the deal probably won't get closed. Stay tuned and if you have similar experience or comments, leave them here too.
Buy for now. We'll see if I remember all this technology by the next time I log on! Here's to the next session of Technology Not a Challenge with the Short Sale Queen!
Once you put it out there for people to see, you've pretty much made a commitment to keep it up. That's what I've done. Let me give my first situation.
I'm working on a house now that has a "blanket mortgage". A blanket mortgage is one that blankets or covers more than one property. So in a short sale situation, this means when you make an offer for one house, you are really buying them all. In this case 2 houses.
We're offering $6,000, yes for 2 houses. The bank says they need $9-12K Net however. We were just about ready to give them $9K net but discovered there is a $10K delinquent tax bill on the houses. That better than doubles the price. So now my new job is to get to the court house and attempt to negotiate the tax bill down.
I've tried this before but it was over the phone. No eye contact, I'm not even sure if the person I was talking to could have said yes. This time I will find somebody in an office, not a cubicle. I figure somebody sitting in a private office will have the authority to say yes, if it's possible. It is a 6 family and the county is ready to tear it down if the building orders don't start getting repaired soon. A six family, owes $10K in taxes, homeowner in foreclosure, ready to be torn down. If I only pay 1/2 of the taxes owed, do you think that will be more than if I don't buy it and it does get torn down? I think I just might have a chance to get those taxes reduced.
Like I say over and over in my live short sale training program, my short sale boot camp and every time I get a chance in my short sale coaching, you have to ask! And you can learn even more about that here All the Short Sale Queen Training Products.
If I don't ask, the county will absolutely expect me to pay the property taxes in full. And if I have to pay the taxes in full, the deal probably won't get closed. Stay tuned and if you have similar experience or comments, leave them here too.
Buy for now. We'll see if I remember all this technology by the next time I log on! Here's to the next session of Technology Not a Challenge with the Short Sale Queen!
posted by Deb at 4:01 PM
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