House 3: Squatters Begone!

I stopped by the house this morning and, as I was unlocking the front door, I noticed there were sheets hanging over a window to the right of the door. Hmmm.. I didn't put those there. I opened the door and saw several things:The window on the other side of the room to the backyard was open.There was a red car in the backyard.Through a doorway to the right, I could see a bicycle leaning against the wall and a bunch of clothes on the floor.I closed...

Prosper Loan Late

One of my four loans on Prosper is late on the payment. Right now, it's at a less than 15 days late status. Payment was due on the 16th. Interestingly, this was the loan where an early payment was made before the first month was even up, lending some credence to her claim that she intended to pay the loan off in 1 year instead of the normal 3. The borrower is rated HR, meaning High Risk and total loan amount was for $3,500 at 20.75%. My exposure...

House 3: Checkup

I stopped by the property yesterday morning just to check on it. Everything looked OK. There were no broken windows, the window AC unit was still there. The outside porch light was on, but I left it on, figuring it may be playing a role in keeping vandals at bay. My two desk lamps were still there and the timers they are connected to were still working and set to the right time. The laundry room door was unlocked, so some potential buyers must have...

House 3: Back On The Market

My agent heard from the buyer's mortgage broker today. Apparently, the reason for the delay in the loan docs was the buyer had a late payment on his credit report. He said it was the bank's fault and initially, the bank agreed. However, after further investigation, the bank changed its mind and decided it was the buyer's fault after all. That dropped his credit score and he no longer qualified for the loan. The mortgage broker says they can get it...

House 3: Escrow Update

We were supposed to close escrow today. Actually, the original close date was last Tuesday, but we extended it a week. My agent has called the buyer's agent and has not gotten a response. She also called the buyer's mortgage broker and asked what was going on. She got the usual mortgage broker answer - "Oh, there were some problems that weren't the buyer's fault but they are all cleared up now," etc., etc. My agent then asked if we were going to...

House 3: Still No Buyer's Docs

We're supposed to close escrow tomorrow. As of 1:45 PM today, the escrow agent still does not have docs from the buyer's lender and no one there is returning his phone calls. This does not make me happy. I asked my agent to contact the buyer's agent and have them start pestering their lender for loan docs as well.I did stop by the property this morning and it's still in good shape. The window AC unit has been installed. No more vandalism has been...

House 3: Sale Documents Signed

I went to the title company this afternoon to sign all the documents. There were several errors on the HUD - as expected. First, they had my agent's commission as 3% when it should be 1%. They also left out the $350 I am kicking back to the buyer for a stove to replace the one that was stolen. Then, they charged me $525 for a termite treatment. This was never mentioned to me and it is not in our contract. The escrow company charged me because...

House 3: Closing Delayed - But That's Good

When I spoke with my Realtor last night, I got some good news. The appraisal on the house came back at $195,000, not $193,000 as we were expecting. And the buyer's mortgage broker says the lender is okay with that, so I don't have to drop the price as much as I thought. My agent is getting the paperwork to me so I can sign off on the new sales price.The title company says buyer's loan docs are supposed to be in on Monday, but to be safe, we are pushing...