Hello Everyone,
I am new to the forum and I look forward to working with you all. I am seeking to make a transition to real estate investing full time. I have been in the mortgage servicing business for about two years now, loss mitigation to be exact. I have dealt with borrowers whose property was in a pre-foreclosure or foreclosure status. I have dealt with investors as well whose investment properties are at risk of foreclosure. I know many investment opportunities exist out there and that is why I need a change.
I have come to understand some of the alternatives that borrowers have from their mortgage servicing company but at times these do not always work for a variety of reasons. I think it is important to understand these alternatives being offered just in case you run into someone who is already having these conversations with their mortgage company or from other sources. I have included a link that is very compreshensive of these foreclosure alternatives.
I am also curious to know from this forum if you have encountered anyone you were dealing who might have mentioned anything like "loan modification" or "short sale" and what avenue did you pursue when dealing with these people?
I will say in the beginning I would like to wholesale properties exclusively to existing investors and then begin to buy and hold myself. Again I look forward to working with you all and appreciate any advice for starting out.
Thank you.
Link: Making Home Affordable
