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Re: Working with Distressed Homeowners

Posted by Jim V on February 19, 2007 at 18:30:33:

In Reply to: Working with Distressed Homeowners posted by John on February 19, 2007 at 17:53:55:


Hi John,

I'm not sure about licensing requirements in WA for real estate and lending, but it's possible as an attorney, you can broker both. You'll know more about that than I do.

When I was heavily involved in preforeclosure work I found my best result was working hard money loans. I'm not talking about "bait and switch" type stuff, but actually having the capability to originate and fund foreclosure bailout type loans. The homeowner would obviously have to qualify for that type of loan and many could not, but it did allow for a non-threatening presentation to the distressed homeowner without resorting to unrealistic promises.

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