EP98: Everything You Need to Know About Foreclosure

Mortgage Note Investing Weekly

In this episode, we talk about foreclosure & the must-know items to be successful in note investing. Rick reveals the due diligence process that goes into analyzing a mortgage note in foreclosure. He discusses the importance of gathering information from the seller, payment history, and servicing notes. He also talks about the role of court records in determining how far along the foreclosure process is.
Learn about the differences between Chapter 7 and Chapter 13 bankruptcy and why a borrower might file for each type. Lastly, they touch on how foreclosure can be delayed due to a bankruptcy filing and the concept of relief of stay.
00:00 Intro
01:20 Due Diligence Process For Analyzing a Note in Foreclosure
1:46 - Gathering information from the seller
2:01 - Questions to Ask the Seller
2:55 - Payment History and Servicing Notes
3:38 - Comparing Information for a Note in Foreclosure
3:47 - Looking at Court Records
4:01 - Accessing Court Records in Florida
4:20 - Different Access Rules in Other States
4:45 - Checking for bankruptcy filings on PACER
6:00 - Reasons why someone might file for bankruptcy
06:09 - Differences between Chapter 7 and Chapter 13 bankruptcy
7:15 - How bankruptcy can delay a foreclosure
7:31 - Relief of stay explained
For more videos on mortgage notes & real estate investing SUBSCRIBE to our channel: https://pstac.co/subscribe_on_youtube
🛎️ Press the bell icon to get notified of when our new videos are published.
Share this video: https://youtu.be/4v9U3-0u5k0
_______________________________________________________
Follow Us On These Platforms:👇
Facebook: https://pstac.co/facebook
Linkedin: https://pstac.co/linkedin
Twitter: https://pstac.co/twitter
TikTok: https://pstac.co/tiktok
Instagram: https://pstac.co/instagram
_________________________________________
➤ More Note Investing Education
Check out Paperstac Academy: https://pstac.co/academy
A mortgage note investing course designed to help you go from beginner to purchasing your first mortgage note.
__________________________________________
🔊 Speakers: Rick Allen & Brett Burky
👉 Check out our podcast:
https://pstac.co/podcast_

Follow Us On These Platforms:👇

• Facebook: https://pstac.co/facebook
• Linkedin: https://pstac.co/linkedin
• Twitter: https://pstac.co/twitter
• TikTok: ...