I’ve been trying to “take care of priorities” for the last 24 hours. Here is a log I kept on my notepad as I was working (this is a quick-n-dirty post, please pardon the grammar / spelling) Monday (yesterday) woke up late because I was up late last night responding to emails, installing a plug-in […]
Category: borrowing / loans
Avoiding Foreclosure via Short Sale and/or For Sale by Owner
A quick update on my California properties. Burdett… I hired my realtor to do the short sale on Burdett property because she has been doing such a great job with Larchmont. If you remember, I already have a verbal approval from the lender to short sale at 248. An investor who I was working with […]
Hard Money Lender Approved Deed in Lieu of Foreclosure
I’ve been in contact with the hard money lender for my Dallas property. I told him I have this buyer from New York City but he is taking a while to close. We have escrow open but I still don’t have a closing date from him! The auction is coming up on November 7th so […]
Hardship Letter and Short Sale
Here is my hardship letter that I wrote for asking the bank to allow a short sale on several of my upside-down properties like Larchmont and Burdett in Sacramento, and Guadalajara in New Mexico. [See my updated hardship letter] What is a “Short Sale”? Sam Chapman a real estate agent from Austin puts it nicely […]
Top 5 Advice They Say I Have Been Ignoring
Thanks to “Andrew from Canada” for putting together a master list of Top 5 Pieces of Advice I Have Been Ignoring. There are more than 5 but its all good – I will address all of them. My responses are in BOLD. [Andrew from Canada:] I know people have been asking for to address the […]
Negotiating CashCall, Credit Cards and Other Lenders?
Below is the transcript from my CashCall call – one of my unsecured lenders. It’s roughly a $10,000 loan which was taken out about a year ago to pay for Burdett property repairs. Also, if you look at my financial statement spreadsheet you will see I have $175,000 of unsecured debt (lines of credit, credit […]
CashCall says: $220 by 12PM Tomorrow or Else… Donation?
I called CashCall two days ago to see if we can work out a payment plan and consider all my options. The CashCall rep that is assigned to me was pretty friendly and took my financial statement over the phone and gave me some options. Because of my income I didn’t qualify for a loan […]
Mortgage Fraud Podcast a Success!
My first attempt at running an online talk show / live podcast / talkcast (whatever you want to call it) went pretty smooth. I talked for 2 hours with Jerome Mayne, an ex mortgage fraud convict who is now an expert, author and speaker on fraudulent behavior. We also took some interesting live questions at […]
Real Estate Investing College
It’s now Saturday and I finished all the classes for the week. I was pleasantly surprised by the quality of the education in this Real Estate Investing College as compared to other investing gurus and seminars I’ve been to. I learned a lot of good / new stuff that will help me stop foreclosure, make […]
Brutal Comments and Honesty
I was featured on The House Bubble Blog with Attitude and received a flood of mostly angry comments. People are giving me a beating! Yes I probably do deserve a beating. I made some bad moves as an investor and got over-extended. I also took advantage of liar loans. However, some people are taking it […]
Money Raised, CashCall Payment Sent!
Huge thanks to the generous readers and all the nice haters for donating enough money last night to allow me to make the CashCall payment and receive a 2 month deferment on payments. It was a crazy night. I was answering hard questions and doing stuff to get donations. Read the comments to see what […]
Who Says We Don’t Work?
This is a shot of our living room where me and my wife are working on a tech job for a local real estate professional. We’re putting together and reproducing a large order of training CDs. We are getting paid this Sunday. In fact we pulled an all-nighter to finish up. This is an example […]
Larchmont Foreclosure Sold at $199K after Failed Short Sale
[Banks lost at least $130,000 on me. Talk about my consequences on the show and comments here.] Some of you already know about this, but the Larchmont REO property was sold by the bank for $199,000 on May 11th. See the provided MLS screenshot. I lost the Larchmont property to foreclosure on February 27th, 2007. […]
Formula For Being Broke
I get a lot of interesting emails. Here is one of them. This guy is trying to share a “business opportunity” with me but I declined (for now) because I’m too busy with my foreclosure mess. I did enjoy his letter though. Keep in mind, I have nothing against “a job” in the traditional sense. […]
Debt Settlement… Settle Debt From Corporation?
In trying to update my debt list, here is what I found in my sea of mail the other day: It’s a debt settlement offer for one of my credit cards. So, I’m wondering… (Poll Added) Is that the best they can do? I’m guessing it’s 8-9 months late at this point. I can call […]
