Sorry for slow updates… here are some pictures from last few days. Presents with the Mrs. Our 3rd Christmas together. Getting Things Done Book Sweet! I’ve been wanting to read this for a long time… wait a minute… is she trying to tell me something? Stockings at my Parents’ place Our traditional Christmas Eve gift […]
Category: Burdett
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 […]
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 […]
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 […]
Flipping Houses in a Down Market?
I came across a funny online show about two guys trying to flip houses in a declining real estate market: FlipperNation.com. If you are a fan of the other house flipping shows on TV, you will like this. These guys just started and I’m not sure how much of it is based on a true […]
Property Photos and Info
I took the time to find pictures for all the properties and update some of the loan information. Take a look. I’m still facing foreclosure, so let me know if you have any buyers for me. Thanks. Burdett Way, Sacramento CA Larchmont Dr, North Highlands CA Muncy Dr, Modesto CA W 10250 N, Highland UT […]
Short Sale to Stop Foreclosure Update
Quick update… New Mexico property: Had agent drastically lower the price from 469 to 409k in order to compete with all the inventory. Apparently we haven’t been getting offers because ALL the houses on that street are for sale and the entire Rio Rancho area is really bad right now because of all the flooding. […]
No More Access to Foreclosure Property
This weekend I decided to drive over and check out the properties in Sacramento area that I recently lost to foreclosure. I was curious to see what is happening since foreclosure and to see if I can still get in. Nope. The lenders work fast. Both the Burdett and Larchmont properties have new locks and […]
Overwhelmed by Despair and Pressure
This is one of those days… I woke up feeling overwhelmed by this intense pressure. I feel despair and helplessness. I’m normally pretty optimistic (sometimes overly). But today just I’m down… I feel like the odds are against me. I want to give up. Here are 6 reasons why I’m feeling depressed. Filed under personal […]
Timeline of Life, Houses and Foreclosure
I am being interviewed again and part of the due diligence the reporter does is check all my closing statements. In putting together those I decided to give you a timeline of all my house purchases, sales and foreclosures so far (and a few major life events for good measure). Here it is: September 10th, […]
Burdett Lender is Playing Hardball
I’m working with an investor on the Burdett property who is negotiating a short sale with my lender. I only have one loan on the property at 295. The property was worth about 315 when I bought it back in January of this year (2006). Now it’s appraising at 275. The appraisal was just done […]
Overwhelmed by Despair and Pressure
This is one of those days… I woke up feeling overwhelmed by this intense pressure. I feel despair and helplessness. I’m normally pretty optimistic (sometimes overly). But today just I’m down… I feel like the odds are against me. I want to give up. Here are 6 reasons why I’m feeling depressed. Filed under personal […]
Will I Go to Jail for Mortgage Fraud?
[Photo by !borghetti used with permission.] In this blog entry I’m explaining all the potentially “shady” loan practices over the last 12 months as a real estate investor. I am trying to figure out the following: Did I commit mortgage fraud? To what extent? What are the consequences? Will I go to jail? Should I […]
Yes, I Lied on My Loans!
No more excuses! It’s true. I lied on my loans. I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility. And, that’s how I originally started this blog. But then… I […]
