Two sources: 1) go to the law library that goes with a law school in your area. These individuals are very useful and will get you some property law books. 2) go to the clerk of courts in your county. Ask them how to search by types of cases and search for quiet title actions. All records are public, so view a case that is near conclusion or has concluded and follow them.

There are many nuiances and notice rules that you have to follow with a quiet title action. You will also need a preliminary judicial report from a title company. I would highly advise contacting an attorney in your area to make sure it is done right. If you miss a nuiance on the notice of an individual, you will have to start over on something that usually takes over a year to complete anyway.

Good luck

When a property gets foreclosed on, and it's the first lien holder that is doing the foreclosing, then the second and third and fourth (etc.) will get wiped out at the foreclosure auction. What an investor will do is to buy/tie up the property from the defaulting owner and see if he can discount the first and second. The second will most likely agree to a small amount (usually 7-10 percent) because they will lose everything once the property gets foreclosed on. The first will usually accept a 20 percent hit.

Now what you quoted is that the second note holder was stating that he will own the property by buying it from the person in default and take over the first position's loan payments and make it current. Therefore, he is not interested in selling his note to the investors. The investors in that example were idiots for not controling the property first or the owner didn't want to sell. The investors were hoping to buy the second note at a discount and bid at the auction and own the property with at least 15 k equity plus whatever the homeowner had in equity.

You can buy any note by approaching the lending institution that holds the note and making an offer to buy it. You will need cash to do so.

Also, to clear up the quoted reference, you can purchase property "subject to" existing liens/loans. Taking property "subject to" means that you will take over the payments, but the old owner is still responsible for the loan(s). So if you stop paying the mortgage/trust deed, the lending institution will go after the old owner and start foreclosing on the property. Buying property "subject to" existing loans is one way where someone with no money and/or credit can get into a home and own it. The second note holder was buying the property from the defaulting owner using the "subject to" clause.

I either confused you or helped you. Either way, I just saved you hundreds of dollars in late night real estate infomercials!

E-mail me if you have any questions.

Regards

give them a few more days and see. you have up to 40days to report it to paypal

it’s worth noting that most of the comments here in support of lowering the subsidy do not live in the areas that will be most affected. you really have no idea what it’s like to live in new york city where renting a shabby one bedroom apartment can still cost over $3000 — shocking, right? now imagine regular folks (there are plenty of us who live in the city) who would rather try and own something and get a return, however small, on their money than flush so much cash down the toilet each month on rent. I encourage you all to go on the times real estate website and price out the cost of buying apartments in the city. I’m sure you’ll say, “prices should come down, if you can’t afford, don’t buy” so then i encourage you to do the same search on rental apartments in new york. It’s expensive. My wife and I are fully capable of affording our mortgage each month, but the only reason we were able to buy was bc of an FHA loan that allowed us to but less money down. the government is suppose to help the little guy, and unfortunately what it means to be the “little guy” is different from city to city. You can’t compare a 5 bedroom house in rural Kentucky to a 1 bedroom apartment in NYC. Life just doesn’t work that way. If you’re ok with the government helping out with people’s healthcare and retirement (ala medicare and social security), then you should also be fine with the government helping people have a roof over their heads.

I have observed that good real estate agents all over the place are warming up to FSBO Advertising. They are noticing that it’s more than simply placing a poster in the front property. It’s really about building connections with these vendors who at some time will become buyers. So, while you give your time and energy to helping these sellers go it alone : the “Law regarding Reciprocity” kicks in. Good blog post.

I would say if the contract is up, and this potential buyer contacted you directly, you owe this agent nothing. They didn't go thru the realtor. Sounds as if the realtor is trying to recoup some losses he says he had marketing your property. I would check your contract over carefully and make sure there isn't some clause that says you have to give him a percentage if a buyer contacts you AFTER the end of the listing agreement. If you aren't sure, have a real estate lawyer go over the contract and advise you. If you weren't impressed with the agent and their marketing of your property, then you would do better to just retain a real estate lawyer and have them finalize the sale for you.

I would say if the contract is up, and this potential buyer contacted you directly, you owe this agent nothing. They didn't go thru the realtor. Sounds as if the realtor is trying to recoup some losses he says he had marketing your property. I would check your contract over carefully and make sure there isn't some clause that says you have to give him a percentage if a buyer contacts you AFTER the end of the listing agreement. If you aren't sure, have a real estate lawyer go over the contract and advise you. If you weren't impressed with the agent and their marketing of your property, then you would do better to just retain a real estate lawyer and have them finalize the sale for you.