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Dirty Title Goldmine

324 members • Free

2 contributions to Dirty Title Goldmine
P.E.T.I.T.O
P.E.T.I.T.O Property: Single Family in Florida Equity: Ranges from 500-600k (Sniff test amount) Title: In name of deceased owner who passed away for more than 2 years to-date. Interested Parties: 4 heirs. Main heir is willing to rally all other siblings if there are no upfront costs on their end. Threats: Date: 4/12/2002 Lender: WA MUTUAL Loan Amt: $30,000 Loan Type: fixed‑rate, closed‑end, future‑advance mortgage loan Date: 7/15/2004 Lender: WA MUTUAL Loan Amt: $50,000 Loan Type: Stand-alone mortgage Date: 5/23/2008 Lender: JAMES B. NUTTER & CO Loan Amt: $510,000 Loan Type: Reverse Mortgage ReFi Searched for mortgages and deed of trust in the county recorder and clerk of court, but only found the 1st loan in the records. Decedent passed away 2 years ago and the property is only behind on 2025 year taxes, and I cannot find any judgment or lis pendens action from the R.M Lender nor any assignment of mortgage. I looked further into the Reverse Mortgage lender's name 'James B. Nutter & CO' and found this DOJ article: https://www.justice.gov/usao-dc/pr/james-b-nutter-company-pay-24m-allegedly-causing-false-claims-federal-mortgage-insurance If you've read the article, it's to my knowledge, when banks are falling apart or going out of business they'll usually sell the note by assigning it over to another loan servicer, but I haven't been able to find anything like that in the county recorder's and clerk of courts. The previous lender settled for $2.4m and they have completely STOPPED originating loans since 2022. With these pattern of facts would this be a RESOUNDING "O"PPORTUNITY??? lol Is there a possibility that the lender has forgotten about this loan during the whole debacle? Even though reverse mortgages are U.S backed loans could there be an opportunity to quiet the title? Thank you for your inputs!
1 like • 1d
I have lunch most every Friday with one of the three FHA foreclosure commissioners. Yesterday was his turn to buy me lunch. Trying to figure out why you would see this as an opportunity (unless you routinely litigate and have the stomach and capital to endure years of court. If you are newer to curative scenarios, focus on problems that you know you can resolve that others cannot or don’t wish to deal with like death scenes or hoarders.
Getting ahold of people who are tough getting ahold of…
I’ve got two deals I’m trying hard to get ahold of the heirs. One is a pre-probate mortgage foreclosure going to auction in 3 weeks with about 320k equity in CA. House is vacant, Two daughters live in Texas. I’ve called, left voicemails, texted, and sent mail. If that fails I plan to send flowers. I can also have a buddy in Austin make the trip to door knock. Any other ideas? I’ve got another one that’s tax delinquent, owner deceased. 600-700k house free and clear, owner deceased. One son seems to be in jail or prison, the other one I’m trying to get ahold of by phone, social media, mail and I can send a door knocker. What do you guys do to get ahold of people who are tough getting ahold of?
3 likes • 12d
Budget more money to reach the “hard to reach.” Your competitors will typically not risk investing $500 to connect to a viable prospect. But if you get one in five to convert and thought about like it requires $500 X (5) equals $2,500 to make $100,000 net, you’d be eager to treat like an ATM Machine. I’ve run this exact play a number of times (I’m in So Cal) but my model is exclusively by referral now for many years.
0 likes • 12d
Also, use ‘get hold’ of someone (no word “ahold”) if you want to get ahead.
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Rick Harmon
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1point to level up
@rick-harmon-5140
America’s best known authority on California Inherited Property,

Active 10h ago
Joined May 14, 2026
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