This week’s show is dedicated to our fellow note investor Rene Weaver.

We’re all getting back at it after the Labor Day weekend and trying to clean off our desks while clearing out our inboxes.

We are moving forward with bringing together some high level education regarding FDCPA and some great SDIRA strategies for our listeners.

Chase points out that Robby has veered off his standard path of not talking to borrowers. He has been getting after it this past week in the communication with borrowers and tenants department.

A semi-squatting tenant that hasn’t been paying market rent accepted a cash offer of $800 to move out of a condo we recently foreclosed on down in Miami.

Listen to hear how Robby’s relationship with his attorney got the money portion of this transaction handled while he was on the road.

We are working directly with a borrower in Columbus to help stop a foreclosure sale that is set for Friday morning. Down to the last wire, the borrower really wants to stay in the property. In fact, they've has been able to stash away a good chunk of cash in order to get their arrears balance down.

We gave the borrower two options, and we’ll have to see if they take either one of them in the next 48 hours so that we can stop the sale in time.

During the course of Robby’s Ohio Road Show he also was able to make contact with a borrower in Cleveland that had just prepared a motion for the court requesting mediation with the lender to modify their loan.

Robby and the borrower had about a 30-minute conversation going over the property value, payments, and current work status of the borrower and were able to come to a rough consensus on how to proceed with a forbearance and modification of the loan.

This one is in the early stages, but the attorneys are already drafting a letter to the borrower outlining the first offering of terms to get them back making payments and to help keep them in their home.

Chase takes us through a recent article that was released regarding HELOCs and the expectations of how many will have trouble making payments as the HELOCs originated in 2005-2007 reach their 10 year draw period.

The loans in this range make up over 50% of all HELOCs that are outstanding in the market right now. It will be great to see these HELOCs make their way down through the system to the retail non-performing note investors.

As a final note we would like to dedicate this show to Rene Weaver. Rene was a fellow note investor that passed away this week.

We want to send out our condolences to his family, friends, and loved ones that he left behind.

If you have any questions or comments send them our way at [email protected].

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby