The Note Closers Show Podcast 88 Reverse Mortgage Notes: Death, Taxes, and Foreclosure Headaches
This week Scott reviews another tape of assets from a new provider. Buckle up your boot straps and hold on tight for this thrill ride of reverse mortgage notes. Scott dives into the map and spreadsheet, outlining the positives and negatives of the assets, giving tips along the way!
- Illinois Foreclosure This state takes longer to foreclose on!
- Manufactured Homes with far comps: How accurate are BPOs with far comps?
- REO and foreclosure When do you fix up and when do you flip?
- Days on Market How can you get a good price for an asset in a slower market?
- Max Claim What exactly is the max claim?
- Redemption Period and Foreclosure in the same sentence! This one is for the pros that are the most patient of note investors that are prepared for some possible litigation with estate holders!
- Manufactured Homes at high BPO's These assets are out in the middle of nowhere with comps from 20 miles away.
- Elderly Owners: Reverse Mortgages require owners that are 65 years or older, you are potentially foreclosing on grandma!
- HUD Claims: What is the HUD Max Claim?
- The Seller. This is not Scott's usual seller, so expect surprises when working with a new provider.
Whether you're a seasoned investor or new to real estate note investing, it can be a challenge so grab your education to get the right start.
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