Quote: (09-07-2012 04:20 PM)portofmanteau Wrote:
Quote: (09-07-2012 02:45 PM)BIGINJAPAN Wrote:
Oh and the of course the best thing is the principle is pretty much guaranteed. The laws in this country are such that you have just as much power as a bank to forclose on the property. So if someone defaults you just take the house and pay off the 1st position( usually a bank ) pay yourself off plus the interest you are owed and any fees and then whatever is left over goes back to the original home owner. In several years of doing this I have only had to foreclose twice. When you are a smaller lender the process is way quicker than if you were a big bank. So your money isn't in limbo very long. 2 months usually at most.
Can you do a data sheet on this?
Posted data sheet under new thread
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