Comments on: Dealing With Colorado Mortgage Programs http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/ Successful Modern e-Life Style Fri, 23 Mar 2012 20:47:48 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: buad0118 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1169 buad0118 Wed, 30 Dec 2009 07:54:28 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1169 When a senior lien forecloses, a junior lien is wiped out. So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first. Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment. When a senior lien forecloses, a junior lien is wiped out.

So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first.

Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment.

]]> By: Die Bart Die http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1175 Die Bart Die Tue, 29 Dec 2009 18:16:58 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1175 You need to establish a banking relationship in the commercial loan department. Stay away from residential lenders as they are not involved in investment deals. Explain what your plan is (to buy foreclosures) and arrange a line of credit subject to your winning bid that converts to a first lien mortgage. Most foreclosures require 10-15% at sale and closing in 30 days. You will need collateral and good credit. Start small and prove yourself to the lender even if it is only really small cheap houses. Make the lender your best friend regardless of his decision as you can always go back. You need to establish a banking relationship in the commercial loan department. Stay away from residential lenders as they are not involved in investment deals. Explain what your plan is (to buy foreclosures) and arrange a line of credit subject to your winning bid that converts to a first lien mortgage. Most foreclosures require 10-15% at sale and closing in 30 days. You will need collateral and good credit. Start small and prove yourself to the lender even if it is only really small cheap houses. Make the lender your best friend regardless of his decision as you can always go back.

]]> By: WPMixer http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1158 WPMixer Tue, 29 Dec 2009 15:10:01 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1158 hi all everybody plz watches in my videos and rating .. plz plz plz !!!!! hi all everybody plz watches in my videos and rating .. plz plz plz !!!!!

]]> By: Wordpress http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1159 Wordpress Tue, 29 Dec 2009 15:07:07 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1159 superb!! superb!!

]]> By: bjm_116 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1167 bjm_116 Tue, 29 Dec 2009 14:31:11 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1167 depends on your interest rate lets say you did a 30 year 5% fixed 1825.19 would be your monthly http://public.propertylinx.com/custom/templates/mortgage_calculator.asp?price=350000 here's a calculator.. toss around your own numbers. depends on your interest rate

lets say you did a 30 year 5% fixed

1825.19 would be your monthly

http://public.propertylinx.com/custom/templates/mortgage_calculator.asp?price=350000

here's a calculator.. toss around your own numbers.

]]> By: Iñigo http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/comment-page-1/#comment-1168 Iñigo Tue, 29 Dec 2009 14:22:14 +0000 http://urbantoolamerica.com/dealing-with-colorado-mortgage-programs/#comment-1168 read on... http://myfinancetimes.com/2008/05/24/subprime-mortgage-creditcrisis/ The above article elucidates you on the actual subprime mortgage crisis in us. and the persons behind the mortgage fraud and all those who are to be directly blamed for this financial catastrophe. read on…
http://myfinancetimes.com/2008/05/24/subprime-mortgage-creditcrisis/

The above article elucidates you on the actual subprime mortgage crisis in us. and the persons behind the mortgage fraud and all those who are to be directly blamed for this financial catastrophe.

]]>