Once that property is foreclosed, this can give a negative effect on a seller that could follow them for a long period of time.
The foreclosure of the seller’s property will show up on their credit report for the next 10 years. That is a huge impact on their ability to qualify for any kind of financing, but particularly for mortgage financing.
For more valuable information click on this link to watch the complete episode: https://youtu.be/k0QEygGROKY – “Why It Doesn’t Matter If Real Estate Booms Or Not”
Discover how to start investing in real estate at Millionaire Jumpstart.
* Money Making Secret #1: Getting Motivated Sellers to Call You! No more calling unmotivated sellers and getting rejected more times than a geek for the high school prom!
I’ll show you how for over 28 years, I’ve been able to get deals brought to me and motivated sellers hunting me down to give me their house.
* Money Making Secret #2: The Art of Structuring Deals! I’ve been doing this for 40 years and I love to share how I get sellers to give me the house, a check, and even a jet ski or two.
* Money Making Secret #3: Negotiating Secrets Revealed! I love to negotiate, just ask Matt, one of my hand-picked coaches. We recently went to an estate sale and he witnessed me structuring a deal to buy the house and contents right there on the spot.
* Money Making Secret #4: Trusts Simplified! A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
* Money Making Secret #5: Develop a Plan for Success in Real Estate. The wealthiest man ever to walk the earth left clues for us on how he amassed his great wealth and kept it.
How to Help People While Helping Yourself – Become a Certified Affordable Housing Provider™
Create Your 10 Million Dollar Retirement Plan – specific formula revealed
Learn Hidden Profits Available in ANY Deal – worth thousand$
How to Take Over the Seller’s Loan with NO Money
How to Have the Seller PAY YOU to Buy Their Home – no kidding!
Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
Money-Making Management Secrets from a 40 year veteran who manages over 150 now
Accelerating Your Cash Flow – Add built-in “Profit Centers” – extra hundred$ per month
Case Studies: Secrets of How They Were Found, Negotiated and Sold
How to Protect Your Deal from Someone Else Stealing it
Legally Pay ZERO Taxes on Your Real Estate Portfolio – simple structure worth thousands
Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
And MUCH More
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Is the seller at any risk, if the deal falls through? Running out of time and they get foreclosed, we were trying to help them after all.
Absolutely they’re at risk. Once that property is foreclosed, then that’s going to show up on their credit report for the next 10 years. So that is a huge impact on their ability to qualify for any kind of financing, but particularly for mortgage financing, what mortgage lender wants to quickly lend to somebody that’s been in foreclosure and has already lost a property in other words, impacted another lender and cause that lender potential harm and costs. So absolutely, they have a negative impact that could follow them for a long period of time. So you coming in and helping them out, but make sure of your numbers, make sure that you understand what you’re getting yourself into, make sure that you can make those payments.