Introduction: Welcome, Foreclosure Fix Family, to another insightful episode of the Foreclosure Fix Podcast. I’m your host, DJ Olojo, and today, we have a special guest, Justin Bogard, co-founder of American Note Buyers. Our mission on this podcast is to guide one million homeowners successfully through the foreclosure process. Justin, welcome to the show!
Setting the Stage: In today’s episode, Justin shares his expertise in non-performing notes, foreclosures, and the complexities surrounding distressed properties. Justin has been a real estate investor for seven years and primarily deals with performing loans. His insights shed light on the nuances of foreclosure, the importance of communication, and the unique challenges faced by both lenders and borrowers.
The Heart of the Matter: DJ Olojo dives into the heart of the discussion, exploring a significant distinction between performing and non-performing loans. Justin emphasizes the critical role of communication, transparency, and honesty in addressing foreclosure challenges. He highlights the importance of working collaboratively to find solutions, emphasizing that foreclosure should be a last resort.
Storytime: Justin shares a poignant story about a borrower facing foreclosure due to the passing of her mother. The narrative unfolds with a compassionate approach as Justin walks us through the challenges, including probate issues. Through open communication and a transparent relationship, the borrower and lender work together to avoid foreclosure, ultimately resulting in a positive outcome for both parties.
Navigating the Challenges: The conversation steers towards challenges and potential solutions. Justin discusses the delicate balance between being a profitable lender and showing empathy towards the borrower’s situation. He stresses the significance of understanding the borrower’s story and challenges while maintaining a business-oriented mindset.
Dealing with Ghosting: The hosts delve into the frustration of borrowers ghosting lenders. Justin acknowledges the difficulties but advises against engaging in confrontations. He emphasizes the importance of following legal processes, maintaining professionalism, and avoiding unnecessary conflicts that could exacerbate the situation.
Conclusion: As the episode concludes, DJ Olojo thanks Justin for sharing his expertise and insights into the world of note investing. The conversation serves as a valuable resource for both homeowners and investors navigating the complexities of foreclosure. If you found this episode beneficial, don’t forget to like, subscribe, and share with those who may benefit from this knowledge.
Remember, at Foreclosure Fix, our mission is to help one million homeowners successfully navigate foreclosure. Stay tuned for more episodes filled with expert advice and real-life stories. Until next time, Foreclosure Fix Family!