Category: Previous Post

The foreclosure rate in So. Calif. is at a 6 year low. The real estate market is really heating up again, even to the point where people are talking about another ‘bubble’ in the market. Some areas are appreciating more rapidly than others. Here’s what we look for when we buy a note: 1) How…

Recently we bought a note in Santa Paula, CA. Ventura County is just north of the San Fernando Valley, here in Southern California. This particular property was a mixed-use parcel with a residental duplex in the front and a long lot that opened up in the rear that had 2 large commercial metal sided buildings…

The last 3 months were so busy here that I hardly had time to sit and write our blog. Now that the new year has started I have a moment to do so. Well 2012 drew to a close and we look back on it as a good volume year, of course back in the…

Today a chart of 90 day or more delinquent mortgage loans here in California was published. The chart showed that the peak was reached and a pullback has began to take place. The pullback has been slowed by the sluggish job market. People that have mortgages need to have a job. A job that pays…

Recently we received a request for a $800,000.00 loan on a commercial building located in Gardena, CA. The borrower had very good documentation and wanted to close very quickly. We offered to assist the borrower to obtain a low rate conventional loan from a major lender, however the borrower had already planned to sell his…

As a part of our business, we are approved by major lenders like JP Morgan Chase, Alliant, Bank of The Internet, Citibank and others whereby we assist borrowers with their loan documentation who own multi-family (5 units and up) buildings refinance or secure financing for a purchase they are making. Recently we secured a 5…

Recently we made 6 bank loan purchases. Bank loans are less often available to us, however when they do become available, as my dad used to tell me when I first started over 30 years ago in this business “make hay while the sun shines”, so we bought all of the loans that were attractive…

Owning a mortgage company has its daily challenges. Besides keeping up with the latest laws, regulations, licenses, reports, collections, restrictions and alike, we are always looking for new business. I would say we go through 20 quotes before we proceed with an actual deal. So many times I have listened to the seller of a…

Owning a mortgage company has its daily challenges. Besides keeping up with the latest laws, regulations, licenses, reports, collections, restrictions and alike, we are always looking for new business. I would say we go through 20 quotes before we proceed with an actual deal. So many times I have listened to the seller of a…

Recently the note market has lost a valuable resource. Whatever your opinion of Russ Dalbey is, his company provided a valuable service to us note buyers by posting on a large scale, notes for sale that were found by his students / finders all over the country. A couple of years ago, I was invited…