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I am so excited to share with you one of the best-kept secrets of all
time. This new technique alone can generate returns of $20,000,
$30,000, up to $100,000 and more. Plus, there is virtually no risk
whatsoever, and there is no qualifying for loans. It's so exciting, it
almost sounds too good to be true.
A homeowner has a 1st and a 2nd mortgage on his property. Then
something disastrous occurs and the homeowner is unable to pay both
mortgage payments. The property is "over-leveraged" or "upside down"
meaning that the loans on the property are more than what the house is
worth. There is no way someone will offer enough for this house to
satisfy the loan balances. This cuts out all agents because they cannot
sell a house for less then what's owed on it, plus they want a
commission. This is where you come in.
You will be negotiating with the LENDER, not the seller, to accept a
discount as full payment for the loans. Remember, at the auction, the
2nd mortgage is automatically wiped out if the 1st is foreclosing. The
2nd mortgage holder knows this and is about to take a loss for $50,000.
Then you approach him and negotiate to buy it for a certain price
($5,000) to which he accepts as full payment for the loan and now you
are the junior lien holder.
Do you see what just happened! We have the option to purchase this
property for $45,000 under market value.
You can negotiate with the 1st mortgage holder to see if they are
willing to take a discount on the 1st mortgage. This will increase your
profit margins even more. Imagine if you came across a property with a
$200,000 2nd mortgage? Can you say CHA-CHING!! It doesn't get any
better than this. I'll be showing you exactly, step-by-step how to do
this.
http://foreclosuresoerh.blogspot.com/#
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Foreclosures - Generate Huge Returns With Short Sales
