Wondering how to buy foreclosures to make money fast are you. Judgment recovery courses come in a close second.
How to buy foreclosures? That's easy to figure out. Are you out of your freaking mind. Foreclosures are getting retail, when you factor in repairs. An unknown cement in the sewer lines issue anyone. Getting a renter is almost impossible. There are way too many homes to rent, and too few renters.
If you're thinking of getting a judgment recovery course, there is only one answer - the one we have.. Of course, that's because its not judgment recovery in the regular sense. Imagine if you could buy judgments for 10-20% of their value, knowing that the debt was already collected and being held in trust! That's the power of this program.
It also works with getting you money from 2nd mortgages where the first mortgage foreclosed on the home.
The best part? You don't have to collect the debt from people. Forget about having to track assets, stalk people, or go after wages. No joke.
In some cases you're getting money back to ex owners of foreclosed properties.
And this can be huge money.
The income we're looking at is crazy.
No way is this real, eh?
What are we talking about, you ask?
The money comes from foreclosure auctions. Banks sell at foreclosure auction to try to recoup some of their debt load. In the majority of cases, the home sells for less than the debt that is owed on the property. That isn't the case in every auction. Often, the house will got for more than the amount of the mortgage. Seriously.
Do you know where those surplus funds end up? Not many folks know this answer to this. The mortgage company doesn't pocket it. The monies are sent, via the substitute trustee, to the county treasurer.
The bookkeeper for the clerk deposits these monies in their general account. Then the monies get invested in an interest earning account. Interest earned stays with the county.
Eventually this is sent on the State. Interest from the monies is property of - you guessed it - the State. There the monies remain until claimed.
Okay, now let's talk about how this goes hand in hand with judgment recovery.
The first mortgage holder is generally the foreclosing entity. They get whatever is possible from the auction. The amount of money overage is divided up among folks who have a verifiable claim on this overage. In most cases a 2nd mortgage holder is next in line. This is because the mortgage company would not have loaned on the property if there was a judgment in front of them. After the mortgages, judgments line up with their hands out. This is generally determined by the dates any judgments were put on. In other words, it is a race to the court house. For example, assume only a judgment remains against the surplus funds. In this instance you would buy the judgment from the judgment owner. They don't know the money is already in trust just waiting. Judgments can be bought for ten cents on the dollar.
Now that you are the judgment holder, you are entitled to the surplus funds that you are now in line for. That's a four hundred + percent return. Try getting that in the stock market.
Okay, but what if there is no judgment or mortgage in position?. The previous owner is entitled to this suprlus. Here you can often make fifty percent of the total monies as your profit margin.
Its easy to find these guys. They committed no crime. They have no reason to keep hidden.
Finally, if you need money to fund the deals - buy the owners or claimants interest in the surplus - that is also provided.
Currently, the system is offered for $297. That will change, going to $497 at the end of March, 2010. The same increase will have with the locator system version. Its gonna jump from one hundred forty seven to two hundred forty seven..
Just incredible to be able to claim ownership of the surplus for a small percentage. And the money doesn't have to be tracked down. No garnishment, no going after assets. Just collecting a check.
Why be a debt collector when you can recover money for higher profit and no stress.
Check out the program here -
how to buy foreclosures
Judgments, Foreclosures+Judgments-Course Deals!
