Joffrey Long

A Loan on Half A House?

What if your client only owns half the house? And the other owner can't sign can you get them a loan? Nancy was in just that bind. She inherited of her aunt's house - her brother inherited the other half. She needed to borrow money right away for repairs to the house- the problem was that her brother was in the middle of a nasty divorce, and couldn't sign anything. This is where a partial ownership loan, a loan secured by one... (posted by Joffrey 2 years 158 days ago.)

Avoiding the $475,000 Mistake Entering the Credit Bid

By John L. Hosack and Joffrey Long Finally! The delays are over and your foreclosure is going to sale. The trustee asks for bidding instructions. The grand total owing on your loan (a first trust deed) is $575,000. The value of the property is $500,000. Would you open the bidding at $575,000? It could be a big mistake. Surprisingly, many otherwise sophisticated lenders and servicers, including... (posted by Joffrey 2 years 262 days ago.)