Comments on: Different Ways to Buy Foreclosures http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/ Just another WordPress weblog Fri, 21 Nov 2008 02:35:56 +0000 http://wordpress.org/?v=2.6.3 By: Explore Hawaii Blog http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-589 Explore Hawaii Blog Wed, 30 Jul 2008 17:27:17 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-589 I was reading somewhere that offlate trends are that more and more people are inclined to buy foreclosure properties as a result of which there is a boom in this business. I hope this stays !! I was reading somewhere that offlate trends are that more and more people are inclined to buy foreclosure properties as a result of which there is a boom in this business. I hope this stays !!

]]> By: San Diego Foreclosures http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-565 San Diego Foreclosures Sat, 19 Jul 2008 22:31:35 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-565 If you hold the Third Mortgage then the only way that you can protect your position is to satisfy the 1st & 2nd, which are superior liens to your 3rd. If the borrower is not paying your 3rd lien, or even if he is but he is not paying the 1st or 2nd, then you would have the right to file a notice to default and then subsequently a notice of sale, which is the actual foreclosure. The reality is that to perfect your right to foreclose you would have to pay off any liens that are superior to yours, the 1st and 2nd, and this may not make much economic sense unless there is sufficient equity that you would be able to justify paying of the $200k owed to the 1st and 2nd and end up as the owner of the property by virtue of your foreclosure. This is a prime example of why someone in a 2nd lien position is always in greater risk then the 1st lien position and someone in 3rd lien position is even in greater risk because the 1st and 2nd are superior. If you hold the Third Mortgage then the only way that you can protect your position is to satisfy the 1st & 2nd, which are superior liens to your 3rd.

If the borrower is not paying your 3rd lien, or even if he is but he is not paying the 1st or 2nd, then you would have the right to file a notice to default and then subsequently a notice of sale, which is the actual foreclosure. The reality is that to perfect your right to foreclose you would have to pay off any liens that are superior to yours, the 1st and 2nd, and this may not make much economic sense unless there is sufficient equity that you would be able to justify paying of the $200k owed to the 1st and 2nd and end up as the owner of the property by virtue of your foreclosure.

This is a prime example of why someone in a 2nd lien position is always in greater risk then the 1st lien position and someone in 3rd lien position is even in greater risk because the 1st and 2nd are superior.

]]> By: steve http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-561 steve Sat, 19 Jul 2008 02:02:21 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-561 I hold a third mortgage on a property that is now being foreclosed on by the first mortgage holder. The first and second total $200,000 and the house is worth $300,000 I think. What strategy would you use now? I hold a third mortgage on a property that is now being foreclosed on by the first mortgage holder. The first and second total $200,000 and the house is worth $300,000 I think. What strategy would you use now?

]]> By: locksmith in Washington DC http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-553 locksmith in Washington DC Tue, 15 Jul 2008 20:12:34 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-553 so informative! so informative!

]]> By: RefinancingTips http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-411 RefinancingTips Tue, 29 Apr 2008 04:32:12 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-411 Great read. I think I'll subscribe to this as it has some good info! Thanks. I do apppreciate the blog :-) Great read. I think I’ll subscribe to this as it has some good info! Thanks. I do apppreciate the blog :-)

]]> By: Eric http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-379 Eric Thu, 24 Apr 2008 00:06:30 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-379 <strong>Eric...</strong> The most comprehensive info I have found on this subject on the net. Will be back soon to follow up.... Eric…

The most comprehensive info I have found on this subject on the net. Will be back soon to follow up….

]]> By: San Diego Real Estate News » Blog Archive » Real Estate Auctions http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-333 San Diego Real Estate News » Blog Archive » Real Estate Auctions Wed, 09 Apr 2008 06:31:49 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-333 [...] are not a bad way of buying real estate foreclosures but you will find that you don’t find the true investors buying a large % pf their portfolio [...] [...] are not a bad way of buying real estate foreclosures but you will find that you don’t find the true investors buying a large % pf their portfolio [...]

]]> By: San Diego Real Estate News » Blog Archive » Foreclosures For Sale in San Diego http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-332 San Diego Real Estate News » Blog Archive » Foreclosures For Sale in San Diego Wed, 09 Apr 2008 06:28:05 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-332 [...] are interested in buying foreclosures in San Diego please feel free to read our recent post about different ways to purchase foreclosures. We sell a lot of foreclosures in San Diego County so please feel free to read the article on [...] [...] are interested in buying foreclosures in San Diego please feel free to read our recent post about different ways to purchase foreclosures. We sell a lot of foreclosures in San Diego County so please feel free to read the article on [...]

]]> By: San Diego Foreclosures http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-319 San Diego Foreclosures Thu, 03 Apr 2008 19:38:14 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-319 What questions do you have? What questions do you have?

]]> By: San Diego Locksmith http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-315 San Diego Locksmith Thu, 03 Apr 2008 05:42:08 +0000 http://www.teamaguilar.com/blogs/different-ways-to-buy-foreclosures/#comment-315 I can't tell you how busy I am staying with all of the foreclosures I am re-keying. If there are any real estate agent in San Diego looking for a great locksmith please feel free to call me. 760-599-4003. You can also visit my website at http://www.leadinglocksmith.com to view additional information about my company. Thanks! I can’t tell you how busy I am staying with all of the foreclosures I am re-keying. If there are any real estate agent in San Diego looking for a great locksmith please feel free to call me. 760-599-4003. You can also visit my website at http://www.leadinglocksmith.com to view additional information about my company. Thanks!

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