Mortgage Insurance, Things You Need To Understand
September 1, 2010 / /
Mortgage Insurance, no matter what kind it is, is just insurance on a pool of loans. The investor may or may not be responsible for all or part of the loss.
HOW TO CLOSE AT LEAST 3 DEALS IN THE NEXT 90 DAYS
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HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
Get instant access to our online masterclass to learn the simple steps.
About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
Great intro to different MI situations. The $64,000 question is how to get a deal done when the policy is maxed out.
Keep up the awesome work, and I am really sorry to hear about the lint issue, you might try a dryer sheet before you start taping….
Thanks for the tip Steve. =)
In response to a previous video you did….Boa wanted $440k on a file…we submitted an offer for $325K…they had NOT done a BPO but claimed they had. I contacted the BOA negotitator again for the loan payoff. She said she did not have this to contact the collections dept. The homeowner only owed $378K on this note. I contacted the BOA negotiator and asked her “Where her office was going on vacation”? She said “Why would you ask that”? I told her since my buyer was asked to pay them $62K more than is owed on the note…he would like to join them since HE IS PAYING for their probable vacation with extra funds above what is owed. BOA promptly repied they will accept the $325 offer. Our comps show $390K. Still no BPO done by BOA.
The same thing happened with a Chase file I have.
Guys… clearly the inmates are running the assylum.
Just ran into this glad you did the video. I was clueless investor & MI wanted a promissory note. Got investor to drop promissory note. Working on MI. Wish me luck.