I love Shell Bankruptcies to block a foreclosure auction! My 3 easy steps I do to make this happen. This is not legal advice! I am NOT directing you to do this... I am just sharing what I do. Please seek legal advice before attempting the following on your own. In writing this... I feel it may give someone hope and a temporary solution that may be facing a foreclosure auction in the next couple of weeks and are stressing out having to relocate before Christmas. 3 easy steps I do to block a last minute foreclosure auction and buy myself/stalling out the auction for and extra 2-6 months or longer which means for me... thats 2-6 + more months rent to collect. I do this for under $400 bucks without paying an attorney to do it. Can I hear a loud A-men on that one! Most of you know I HATE short sales and no longer do them but I found a way to make stress free profits with pre-foreclosures but not going the short sale road to HELL route anymore. I pick up vacant pre-foreclosure propertis and legally rent them out until they go to auction. I call it Short Sale Rental Riches or SSRR for short... no pun intended. No expenses to clean up, maintain, taxes, insurance, i pay zero out of pocket except for my bandit signs... I just collect rent. Borrower is super happy. Renter loves it and so do the lenders foreclosing. I pay no money to the borrower that has vacated the property. I use a set of disclosures all the way around that my attorney put together for me. I use full transparency. If you want to know how to get that info... PM me or go to CoachPatMartin/ssrr Last minute steps I do to block a foreclosure auction with a Shell BK. Step 1. Locate Federal BK court on line and print off the 5 page do it yourself form. (B1 (Official Form 1) (04/13) Three pages for the BK form and 2 pages for the Credit Counselling Requirement. I fill out this easy form and hand walk it to the clerks office at the Federal Court House near me in Tampa and pay the approx. $350 to file the BK. I can always call up the Federal Court House and have a clerk walk me through on line to locate the forms. Step 2. Before filing the BK... I will need to get a certificate for attending a Credit Counselling Course. Cool thing is.. I can find these courses on line all day long for as little as $25 and knock it out pretty quick on line. I have a LPOA from my borrower which allows me to do this for them along with filing these INITIAL BK documents. Step 3. Once I file the 3 page and 2 page document along with my CC certificate of completion and pay approx $350 cash... no checks. I take a copy of the documents along with my BK case number and I overnight a package to the opposing counsels office that is foreclosing for the lender. I make sure opposing counsels office gets my package with a cover letter explaining in a quick few lines that a BK has been filed and I bring to their attention the subject property, borrowers name, property address, case number and the scheduled auction date in that county. I make sure the overnight package arrives at least 2 days before the scheduled auction to make sure opposing counsel has time to notify the county court house clerk to pull it off the auction docket. If I can only get it there the day before... I make sure I have a 10am delivery... or I can always hand deliver the package and have the front desk person sign off for the delivery if the opposing counsels office is near by. Please note my Official Disclaimer ... I am not recommenging for anyone to do this. I am simply sharing what I personally do and I am directing you to seek legal counsel and not to attempt to do this on your own. wink wink... Merry Chirstmas... Coach Pat Last note... this Shell BK filing is just the initial filing. I do not file the second set of paperwork/documents to finish pursuing the BK which would need to be done within I think 15 to 20 days after the initial filing that I described above. I am not quite sure as I dont go any further than the initial filing. This means the BK is vacted and not followed through to completion. From what I understand the initial filing is more of an application and does nothing nor will show up on the credit report. Sometimes the courts will throw the foreclosure back on the docket within 40 to 60 days... sometimes it can buy me 2 to 6 months extra. Preston Ely, Hunter Paschall, Rick Puglisi, Tim Mai, Greg Clement, Josh Brown, Chris McLaughlin, Chris Krimitsos, Arcadio Diaz, Franklin Cruz, Jeff Vacek, Carlos Crespo, Mike Place, Mike Beecroft Mike Corradini, Michael Citron, Mike Maunu Mike Calhoun Rayna Mike, Julie Gunderson Senter, Frank Luna, Frank Curtin, Sam Khorramian, David Justin Dorian, Russ Whitney, David Corbaley, David Asarnow, Gerald RogersWajed Roger Salam, Bob Leonetti, Jennifer Stancil Puterbaugh, Robyn Love, Carrie Wilbur Sarge Brown Jack Bosch, Todd Morgan, Larry Harbolt, Will Duquette Heather Ann Havenwood Doug Ottersberg Vince Pizzitola Gary R Alderman II, Edwin Kelly Dolmar Cross Dennis-Sha Jenkins Darrin T. Mish Paddy Deighan
Posted on: Thu, 04 Dec 2014 19:52:00 +0000
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