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1 contribution to Apartment Investing Secrets
Scored a $118K Mortgage for $8K and Saved a Home from Foreclosure?!
Back in 2008, I pulled off a once-in-a-lifetime deal: I bought a $118,000 mortgage note for just $8,000! At the time, banks were overwhelmed with "toxic assets" and desperate to unload them, often without realizing the value they had. After acquiring the note, I reached out to the homeowner, who was facing foreclosure. His payment had skyrocketed from $900 to $1,400 due to an adjustable-rate mortgage, and he also had $8,000 in fees. We worked out a solution. I waived his fees, restructured the loan to $110,000, and lowered his payment to $1,000 a month, which he could afford. In just eight months, I made back my investment, and the homeowner kept his house. Best of all, this was passive income—I wasn’t his landlord, I was his bank. Now, deals like that are rare, especially after the 2008 crash, but buying non-performing notes (NPNs) at a discount is still possible. You can even purchase notes for less than the property’s value since there are risks involved in foreclosing. Who's ready to get into the foreclosure game and learn how to find these deals? Join my free masterclass tomorrow, Sept 11 at 8 PM EST. Comment “I’m in” below to get the link! . PS. Image not related to the post.
Scored a $118K Mortgage for $8K and Saved a Home from Foreclosure?!
0 likes • Sep '24
Im in! Thanks for sharing
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Shemia Summers
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5points to level up
@shemia-summers-3872
My name is Shemia

Active 6h ago
Joined May 28, 2024
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