EP98: Everything You Need to Know About Foreclosure

In this episode, we talk about foreclosure & the must-know items to be successful in note investing. Rick reveals the due diligence process that goes into analyzing a mortgage note in foreclosure. He discusses the importance of gathering information from the seller, payment history, and servicing notes. He also talks about the role of court records in determining how far along the foreclosure process is.Learn about the differences between Chapter 7 and Chapter 13 bankruptcy and why a borrower might file for each type. Lastly, they touch on how foreclosure can be delayed due to a bankruptcy filing and the concept of relief of stay.00:00 Intro01:20 Due Diligence Process For Analyzing a Note in Foreclosure1:46 - Gathering information from the seller2:01 - Questions to Ask the Seller2:55 - Payment History and Servicing Notes3:38 - Comparing Information for a Note in Foreclosure3:47 - Looking at Court Records4:01 - Accessing Court Records in Florida4:20 - Different Access Rules in Other States4:45 - Checking for bankruptcy filings on PACER6:00 - Reasons why someone might file for bankruptcy06:09 - Differences between Chapter 7 and Chapter 13 bankruptcy7:15 - How bankruptcy can delay a foreclosure7:31 - Relief of stay explainedFor more videos on mortgage notes & real estate investing SUBSCRIBE to our channel: https://pstac.co/subscribe_on_youtube🛎️ Press the bell icon to get notified of when our new videos are published.Share this video: https://youtu.be/4v9U3-0u5k0_______________________________________________________Follow Us On These Platforms:👇Facebook: https://pstac.co/facebookLinkedin: https://pstac.co/linkedinTwitter:  https://pstac.co/twitterTikTok: https://pstac.co/tiktokInstagram: https://pstac.co/instagram_________________________________________➤ More Note Investing EducationCheck out Paperstac Academy: https://pstac.co/academy A mortgage note investing course designed to help you go from beginner to purchasing your first mortgage note.__________________________________________🔊 Speakers: Rick Allen & Brett Burky👉 Check out our podcast:https://pstac.co/podcast_on_youtube👉 Check out our Snackable Series:https://pstac.co/snackable_series#mortgagenotes #noteinvesting #foreclosure #realestateinvesting #Paperstac #PaperstacPodcastFollow Us On These Platforms:👇Facebook: https://pstac.co/facebookLinkedin: https://pstac.co/linkedinTwitter:  https://pstac.co/twitterTikTok: ...