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When a Performing Loan is NOT A Performer #noteduediligence
Description
In this episode of the Note Closers Show, Scott Carson breaks down what to do when you find out a note is advertised as a performing note but turns out to be sub-performing or nonperforming. Scott outlines what to look for as payment history, taxes owed, insurance being paid, servicing, and collateral doesn't turn out to be what you expected during your due diligence period prior to closing.
Scott also shares why it is important to push back from the table or to reduce your bid based on the increased costs or expenses that have to be covered by you when and if you buy. And why you need to have red flags start popping up when the seller starts to drag their feet when providing due diligence documents and servicing records.
Got Questions? Book a call with Scott at http://TalkWithScottCarson.com
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