2017 Year End Summary as Full Time Note Investors

Can you believe 2017 is already coming to an end? We’re excited to say we’re wrapping up another wonderful year in the note investing world. This year had a lot of huge accomplishments for us. Not only did we have another great year for our note investments, but we launched Note Investing Academy, a brand new 100% online note investing education. Our biggest celebration would have to be leaving our full time jobs to pursue our dream of full time travel. We now work and travel North America on our fifth wheel Toy Hauler (RV)!

Below is the summary of our action and results within our Note Investing business, Seasoned Funding, LLC in 2017. We’re very content with the number of deals as well as the overall profit and ROI we received on the deals we’ve closed. A big part of being note investors for us, is the time freedom it allows. We like to do around 20 deals a year. We found that’s the perfect number more than support us financially while allowing us the time to do all of the fun things we want as we travel. Could we do more deals? Of course! But that would mean putting more work in – and we’re pretty good where we’re at for the time being! Take a look for yourself.


2017 sure was an incredible year and we’re excited to see all of the amazing things 2018 is sure to bring! Wishing you all a successful and prosperous 2018!


A New Note Education Like No Other


I’m EXTREMELY excited to be writing this post. It’s been a long time coming, and today is the day I can officially announce Note Investing Academythe newest, and in my opinion the best, non-performing note educational program out there!

Dennis & I started investing in Notes in 2013 when we were just starting our real estate investing education. At our first Real Estate Association Meeting one of the biggest guru’s in the business was pitching “investing in non-performing notes”. We had absolutely NO idea what a note was, and definitely didn’t know how to buy one for a profit. However, the concept sounded great; most of the business is run from a phone or computer, you don’t need lots of cash to get started,  (you can raise capital to invest), own real estate in your own state or nationwide (meaning lots of inventory and opportunities), and it can provide you with passive income or large sums of cash. We were sold! We signed up for his weekend course and even flew to Texas to attend. While we learned a lot, it wasn’t enough to really buy our own note deal: Cue the up-sell. That’s when when we were brought aside, and pitched one-on-one for a mentorship program that ran anywhere from $12,000 – $20,000 (now that same course is starting at $20,000 and goes up to $35,000)! I was 22 at the time, in my first year of teaching, and Dennis was a bartender. Let’s just say our salaries did not support a $12,000 shopping spree. There really wasn’t any one else offering anything better for cheaper, so we decided go big or go home. That day, we applied for our first big credit card (a suggestion from them…), maxed it out, and bought a $12,000 mentoring course. To say it was a lot of money for us at the time is an understatement. It was more than I personally spent for a four year degree in college! We were scared we overextended ourselves financially but we were determined to see success (trust us there were many sleepless nights until we paid the credit card off in full).

This “big” mentorship was online and structured to be independent/self paced. Point blank, it was not a mentorship. It was an online course. Regardless of the “mentoring” style, we applied ourselves. We listened to the weekly recorded calls, went through the online modules, and read as much as we could. After all was said and done – we still didn’t feel confident. We definitely gained a ton of knowledge about the foundations of note investing but the nuances of the business were minimal. There was no network for us to reach out to and when we did ask questions they often went unanswered. I remember we had a bid on a REAL deal and had questions about the collateral. When I got on the weekly call to ask our big mentor – the guy who pitched us the course to begin with, he gave us the runaround, avoided answering the question, and pretty much told us to look in the previous online notes and calls for an answer. Wow – that’s not a $12,000 answer if you ask me!

We are very thankful for the education we received and programs we attended as they gave us the knowledge we needed to create our Note Investing Business and get out of our 9 to 5 jobs,

We decided to sign up for another weekend course with the Note industry’s competing educator. Since we already had a solid foundation of note investing, we felt his course filled in a lot of the missing gaps and we quickly did our first deal just 1 month later. We are very thankful for both educators and programs because they gave us the knowledge we needed to create our Note Investing Business and get out of our 9 to 5 jobs. With that being said, it shouldn’t have cost of tens of thousands of dollars and there shouldn’t have been so many gaps from their teaching to what actually happens in the note world. They charged an arm and a leg because they could. They delivered what they thought was good information but wasn’t necessarily what we were expecting from the program.

Five years later, our business has grown beyond what we could have ever imagined. We’ve put nearly 2 million dollars to work purchasing non-performing notes nationwide and quit our day jobs because we not only replaced our normal incomes but exceeded our annual salaries. There is no doubt we are here because of the educational foundation we received from the two gurus we learned from, but frankly, much of the success we see today is from our self driven personal education and networking we have with other note investors.

In 2016, I started teaching a one day Investing in Non-Performing Notes class locally at my real estate association in Orlando. While I received amazing feedback at these one day seminars, often being told they learned more in my one day class than a whole three day weekend with the two gurus I mentioned earlier, my reach was still limited.

We are very thankful for the education we received and programs we attended as they gave us the knowledge we needed to create our Note Investing Business and get out of our 9 to 5 jobs,

So in 2017, I collaborated with Chase Thompson, (from the well known podcast, NoteMBA), and Kimberly Banks-Fawcett, (long term real estate investor and active Note Investor), to create Note Investing Academy. Our sole purpose for this program was to offer a better, more affordable solution to learn about investing in non-performing notes. The program is designed to not only give you a solid foundation of Note Investing, but to include everything that we felt was missing when we started out! We have 60+ videos jam packed with content that helps you understand the basics of buying non-performing notes, the numerous ways to profit with notes, the process you’ll go through after you buy your own deal, in addition to the important factors of building your business like branding, marketing, LLC creation, and mindset. We have an amazing Documents section that has loads of resources that we use consistently in our own business. We paid hundreds if not thousands of dollars combined for those documents and that knowledge when we started out. The best part – the price is super affordable! There is no huge up-sell. It is what it is, a great program at an affordable price. We hope to see you there and know you will love the program as much as we do!


2016 Update: A Year in the Life of a Note Investor Recap

While my intentions for this year was to blog once a week on my happenings and successes within the business (see the original post here), I realized it was a lot of time and effort for just a few viewers. I decided to stop posting weekly so I could focus that time instead of furthering my business efforts and to be honest, have just a little extra time for me. If you were one of the followers keeping up, I’m sorry for our lack of recent posts, but I am very glad to give you our year end update today! Our 2016 Business Goal was to make $120,000 in pending or actual profit. Not only was it accomplished but we SURPASSED it! The icing on the cake, we didn’t have to take any “pending profit” into consideration. We made a whopping $153,000 in gross profit from our note investments and members at http://www.tapetechs.com and http://www.NoteInvestingClub.com! If your interested in all the details, take a look at our stats below!


2016 was the most successful year yet. We are beyond excited about our results and are ready for all 2017 has to bring, we know our profits, and deal flow will only continue to increase. We are seeing a huge supply of Non-Performing Inventory and great results with our note deals for both our partnering private investors and our company. If you have idle money sitting in your Roth, IRA, 401K, or savings account, talk to us. We can help increase your return on investment while securing you by real estate. All opportunities are 100% passive. Contact us by email or phone to find out more, 407-205-7363, seasonedfunding@gmail.com

Wishing you the best in 2017!

Bradenton REO Case Study

Another great deal, bought and closed. This was deal was completed with a “JV Partner” (Joint Venture) and was completed in a whopping 47 days! Our company, Seasoned Funding, LLC acquired this deal from a note wholesaler. While this was our first time working with them, we have closed several more and are looking forward to completing many other home run deals like this in 2016.

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As you can see, this deal was a seriously killer deal. We ended up selling it for way more than we initially anticipated and in less time (both great things). There were some small complications with the original closing because the title company the seller went with did not understand our creative structuring. We securitized our JV partner with a 1st lien private mortgage with a lenders policy which was rejected by the closing company 3 times before they finally had legal review it and accept it!

We got clean up started right away but had set backs once again because it fell during the Thanksgiving holiday. We finally got everything buttoned up and on the market within about 3 weeks, and as you saw it was smooth sailing from there!

If you want to see some of other portfolio holdings, or find out how to get involved with our company and see returns like these, please visit our website, gives us a call, or email us!

Orlando Note Deal Case Study

I was talking with a fellow note investor the other day about past deals we’ve completed over lunch. While we both swapped stories of great deals and ones that required a bit more work than expected, I was asked if we send out case studies on the deals we do? I’ve heard of doing this before, but had never actually taken the time to make one for our each of our deals, and quickly realized now how terrible that is! I need to continue to put our past deals out there for other investors and interested lenders to see what we’ve done, how we’re doing it, and the real ROI’s were getting on these deals.

So without further adieu, here is our first case study (I say first because there will be many more to come). This was completed with 2 joint venture partners, and worked out completely by us (Dennis Smith and Liz Brumer) owners of Seasoned Funding, LLC and Note Investing Club.com.


We purchased the note from a fund and began the workout right away. What you don’t see in the case summary is how challenging it was to find the borrower initially. She was living in Georgia but had “relatives” living in the property. Initially, they refused to give us the number, but then realized who we were and what we were trying to do and happily gave us the number to the home she was living in Georgia.

As you saw in the case study, the borrower had a judgement with a credit card company. This took quiet a while to resolve because it required an document signed by the borrower authorizing us to negotiate with the company. When we requested the letter from the borrower, she got scared and worried we were doing some sort of harm and went dark on us for an entire month. Finally, after numerous letters, calls, and pleas with her grandson – she refused to answer the phone, we helped he realize we were there to help and pay off the judgement, we just needed her consent.

It then took another month to receive the release of judgement from the credit card company and get it publicly filed so we had clear title to receive the DIL. This set us back about two and a half months into the work out. All in all it took about 6 months to successfully get the Deed In Lieu from the borrower and have it publicly recorded. From there we did repairs/minor renovations, and got the property on the market. While we got an offer on day 3 of being listed, it was FHA which required an appraisal that put the property $10,000 under what the buyer offered it for! We we’re super bummed about having to lower the price, but still were happy with our ROI.

There were some issues with title when closing, apparently the legal description had been incorrectly recorded for multiple sales and no one had caught it until now. This took another month to rectify which pushed closing back! Talk about frustrating! This deal definitely took longer than expected at 10 months but that’s exactly why you always over estimate timeline, costs, and potential issues that way you over deliver in both the time and results to your partners or lenders. All parties involved were very happy with the outcomes and results and are looking forward to doing more deals!

The 5 Things the Note Gurus Aren’t Telling You!

Note investing was how I got my start in the real estate world. At my very first REIA meeting one of the leading Note Educators or “Gurus” spoke at our monthly meeting. I didn’t know much about notes or real estate at all, but boy did they sell me on the idea of no tenants, repairs, and the prices couldn’t be beat! I was in. I bought into their program and have continued our education ever since. While their programs gave me a wealth of knowledge and resources, I quickly came to realize there were a few key items the gurus were leaving out in their pitches and courses and I was learning the “hard way”.  So I’m here to tell you what I believe are the top 5 things they don’t tell you upfront.


Hiring a Virtual Assistant

In my last blog post, I highlighted the tops ways to leverage your time using tools like virtual assistants, phone answering companies, or technology. Since the topic of leverage can be quiet involved, I wanted to give you a little more insight into the inner-workings of hiring and managing a virtual assistant.

Unfortunately, I speak to way to many investors who have had terrible luck hiring Virtual Assistants to complete a few tasks or jobs for their company. When I ask about the hiring and training process they went through to see what might have gone wrong, I’m typically met with a look of confusion and a response of “what do you mean how did I hire and find them? You know I found them on (fill in your terrible VA platform here). I didn’t really train them it was just (insert task here)“.

imagesIf you want to get a fantastic VA working for you and without you, then you have to take the time to find the right virtual assistant and more importantly train them for their job! We currently have two VA’s that do a variety of weekly tasks for us, including but not limited to; property research/tape scrubbing, calculating CMV and ARV, sending emails to sellers, fishing the internet and MLS for leads, editing excel spreadsheets for mail campaigns, and marketing when we get a deal under contract. Having awesome virtual assistants didn’t “magically” happen. We spent months creating, revising, and perfecting our VA training program (that you an see by clicking here) and are excited to share some helpful tips and tools for hiring and training a virtual assistant!

Where to Find Your Virtual Assistant:

There are a number of platforms that allow you to hire a VA without the overhead of legal issues and payroll. My platform preference is ODesk because of their size, management capabilities and pay system but there are a number of other platforms that offer similar benefits and qualified virtual assistants. Elance.com (same owner as Odesk and VERY comparable in what it offers), VirtualAssitants.comFreelancer.comStaff.comGuru.com. With ODesk, I can manage my virtual assistant using a time log that requires them to take snapshots of their work randomly as they are clocked in. This ensures I am able to track their work simply by logging into Odesk. There are also millions of qualified virtual assistants from across the globe at various price levels and skills experience, which means I can sift through potential assistants and chose the best candidate for my team.


This is an important piece if you are searching for a VA in a different country than your own. If you’re interested in branching out of the US or Canada, you will want to find a VA who is fluent, meaning they can both read and write without grammatical errors and are able to easily interpret data and articulate their ideas to you.


That is completely a personal preference. Keep in mind when hiring the time difference, I love areas that are on the opposite schedule. My work gets done when I sleep! What more could I ask for?


You can get really qualified and experienced VA in the $4 – $6 price range. That may seem shockingly low to you, but remember their cost of living and currency value may differ dramatically to what you are used to. Research the average cost of living in the region your potential VA lives in, and make sure you are paying them satisfactorily for their time and effort. Yes, you might be able to pay $3 an hour, but with a simply dollar increase to $4 an hour you’ve increased their income significantly, and in result they will do a higher quality job, faster, AND want to stay with you because they’re making more than they could anywhere else.


Once again this is by preference. You want a VA who is a problem solver, takes initiative, attentive, and manages time well. If you provide ample training you can hire a great VA with no prior experience and still see them succeed. If you prefer a VA with past experience in your area, look around until you find one that fits there are PLENTY skilled workers out there. Here are some pointers that may help you candidate.

  • Look at their feedback from past jobs
  • Look at their example portfolios
  • If desired, ask them to complete a small “test” related to the job as pre-qualifier to the interview process.


Before the interview I like to assess their initiative and problem solving skills by giving a small task to complete prior to the interview or to bring to the interview. A common one, is to tell them to go to your website and describe what your company does or is. Review their resume and task submissions. Once you’ve narrowed down your top 5 candidates, schedule a phone interview via Skype or google chat. The interview process will allow you to assess their fluency in the language and to get to know them better. You may come across a VA that is SUPER qualified, but you just don’t click with. Hire a VA that you “connect with”. They will be working closely with you so being able to build a relationship with them is important.During the interview ask them questions like…

  • “Why are you interested in my position and why do you think you are qualified?
  • “When is a time in a past job you had to solve a problem that was not initially explained to you?”
  • What is your availability to work with our company (time schedule)
  • What are you current resources (computers, internet, phone – if applicable)

Training your Virtual Assistant & Giving Feedback

This is one of the most important parts of hiring a Virtual Assistant. You may have found an awesome VA but you haven’t given them to the proper instruction to complete your tasks correctly or efficiently. Hands down the best way to train your personal assistant is by using videos with an audio recording linked to the video. This allows them to actually see how to properly complete the task you want them to do! It also allows you to use the same videos for any additional virtual assistants you may hire now or in the future.

I like to provide additional documents of frequently asked questions, website links, step by step guide, or requirements/rules for certain tasks as reference pages for my VA’s. This helps them complete their job without 1 million emails to you! Give them as many resources in one location (such as a website), so they can reference them as much as they need during their initial training.

Remember, that it’s going to take time for them to figure everything out and typically takes a few “trial and errors” before they are 100% independent at your tasks. As with any new job, they need time to learn the routines and tasks, practice them, and get feedback.

Checking their work is key in the first few weeks. I like to provide my VA’s with 2 – 3 “test runs” (for example tapes I have previously scrubbed) to compare their results to mine. I also ask what questions came up when they were going through the process and create videos to help clear up any confusion.


We understand that not everyone is willing to put forth the effort that is required to really get a smoothly running system with a virtual assistant. That’s why we are so happy to share our virtual assistant training program at www.tapetechs.com. We realize sometimes it’s easier to just plug and go and that’s why we allow investors to use our “plug and go” VA training system OR they can submit their REO or Note Tapes to have our highly trained virtual assistants “scrub” (complete due diligence on). We sacrificed the time and months it takes to create a system as effective as this one. We’ve done the hard work for you and are happy to share our success with you. Maximize your potential, free up your time, and give yourself the freedom to focus on what’s important to you.

Training a virtual assistant is no easy task and requires a lot of time, planning, and organization. If your willing to put forth the time and effort to create a system for your virtual assistant you won’t regret it! I can honestly say I have more time on my hands than I know what to do with and am able to do more of the things I enjoy and want to do! 

The Art of Leveraging


Oh boy, I love hiring someone else to do a job I don’t want to do. Putting out signs? NO WAY! Stuffing, addressing, and stamping envelopes, Yah Right! I’m a big fan of leveraging my time to others and you should be too! As business owners it’s easy to get caught up working IN your business instead of ON it. I know I was spending most of my “working time” doing tasks that someone else could have easily done with training or support until I started hiring out those tasks and was able to work ON my business instead of IN it. This post is going to shed light on how you can create more time and allow yourself to be free to make more money doing activities that will truly benefit your business.

Hire a Virtual Assistant eba2fb4486b076d192aba19d41c88a8f

I LOVE LOVE LOVE Virtual Assistants. They are amazing time savers and eager to work for you. Virtual assistants can be hired locally (in your state or country), or abroad. Rates, experience, qualifications, time difference, and language fluency are some factors you should take into consideration when hiring a VA but nonetheless there are extremely qualified virtual assistants looking for jobs and will do pretty much any task you designate to them. I use my VA for property research, follow up, deriving lists, and other small tasks. I’ve seen others use a VA for social media marketing, blogging, SEO, property research, CRM management, web design, and so much more. The opportunities are endless and the best part about it is you can hire a great VA in the price range of $4 – $7 per hour. I hired two VA’s last year and now have them trained in all of my systems for data scrubbing and property research for my non-performing note tapes (this saves me about 8-10 hours per tape and allows me to work on getting more inventory and making more offers!) I’ve also automated my lead capture with a CRM system from Only For Investors, which has been amazing. My VA is completely trained in how to enter, edit, and update properties and even works on my follow up with each lead! If you’re scared about hiring a VA because you’ve heard “horror” stories, or maybe you’ve even tried but failed, don’t give up. There’s a science to hiring and training a good VA and luckily we’ve got it done pat. There will be additional blog posts on how to hire a VA and what to look for, but if you just can’t wait visit our website www.TapeTechs.com to see about our VA training system for note or REO investors.

Letter Writers

670px-WriteAdressClearly-Step-2I hired my first letter writer in July of last year and boy has this been a time saver. The letter writer picks up the pre-printed letters and stamps from OfficeDepot or Staples (which ever is closest to you) and stuffs, addresses, and stamps my letters typically in 24 – 42 hours from pick up. I pay her .25 cents per letter and am able to free up time to work on my business instead of in it.   Oh did I mention, the envelopes and return address labels are sent directly to their house – for free from Office Depot.com, which is AWESOME! If trust is an issue for you and your worried they won’t be done correctly, or maybe a stamp or envelope will go missing, check their work by adding your address with a fake name in the letters to check. Although, I’ve worked with two different people now and had no issues with stealing items!



Alright, I’ll say it. I HATE putting out signs. I hate it so much, that if I’m responsible for doing it…I don’t do it. I hate the traffic, parking, buckling, unbuckling, honking, and time of it all. I hired my first sign placer recently and was happy with the results. I met with them (or you can have them pick up the signs after you “interview” them) and gave them a map of where to put the signs. I used the app simple crew to monitor their progress (they checked in each sign with a picture and geotagged their location) in the app. They sent me a message when they were done and paypal took it from there! You can pay $1 – $2 per sign depending your area, but if it’s any less than that it’s not worth the gas the spend putting them out, so make your pay worthwhile.  When you first meet with someone for this job, talk about the best way and places to put signs – give a few examples and no-examples. If you notice they placed them in a bad spot or not facing the right way, etc, tell them that will be deducted from their pay.

List Research 


I love to use public records to gather my lists for properties and I like my lists to be as fresh as possible. Although there are wonderful online resources like list source.com, I prefer to go to the courthouse myself and get the freshest data possible. I’m a school teacher by day, so getting to the courthouse before it closes at 4 was challenging if I wasn’t on break, so I realized this needed to be hired out.  While I have not personally hired this job out myself, I am working on the training and hiring process using my colleague and fellow associates method from Only For Investors. She mastered this and had two people in different counties in Florida, successfully getting them probate and eviction lists twice a month! Talk about awesome, right!?

Answering Service Happy call center employees with headset

Answering services can be a huge time saver and are always by the phone 24-7. I use this for all of my preliminary calls and it get’s entered directly into my CRM system were my VA takes it from there (does property research then sends it to me to make an offer). There a lot of services out there and my suggestion is PatLive. They are very professional and offer their services at a reasonable price.

The suggestions for leveraging your time that I mentioned here are just the tip of the iceberg. There are a ton of ways for you to maximize your time by outsourcing it to others. The key here. is taking the time upfront to create clear plans of what you want, how you want it done, and training programs/examples for some of the tasks. It can be a daunting process getting it started but once it’s in place you’ll never look back (or have to do it again)! If you like this idea and want to learn more, visit our website to see how you can use our training program for your VA!

Owner Financing: Are you making it work for you?


Owner financing has been around for quiet a while as an alternative to traditional lending. The term owner financing (also known as seller financing) means the owner of the property will hold or carrying financing for the buyer, just as a bank or traditional lending institution. A mortgage and promissory note will be created outlining the terms of the mortgage and type of loan including the agreed upon interest rate, length of the loan, etc. etc.

Although owner financing can be a great tool, it can only be done when a property is owned free and clear or there is a low remaining balance on the current mortgage of the property (typically 90% – 99% equity). Utilizing owner financing is especially beneficial when the buyer is unable to get approved by traditional lenders typically because of tight lending regulations. It can also come in handy when the buyer does not have a large downpayment to put toward the home, something traditional lenders typically require.

My company, Seasoned Funding, LLC specializes in acquiring investment properties in which the owner carries financing. Most sellers want 5% – 6% interest, with 20% – 25% down with a 3 to 5 year balloon. Terms that are considered the “norm” for the current market, yet that I feel are best suited for the seller. The short balloon payments and high interest rates can lend to limited or no cash flow,  negative equity, or a failure to pay the balloon when it is due.


Our investments are unique in the fact that our owners will carry financing with 0% interest. Yes, I typed that correctly, 0% interest! We work a little bit different, in that our structuring of the loans create win win solutions for both the buyer and seller. We can buy the property they need to sell typically for what they are asking for it or more, we get the cash flow we desire with terms that make sense for both parties.

Structuring our opportunities to have 0% interest allows us to pay down the principal at a significant rate, creating instant equity and provides us the opportunity to own the property free and clear typically with in 8 to 10 years. In addition, we do not have to pay “all cash” to get the cash flow we desire or the equity we desire. We typically put 10% – 15% down for these investments, leaving us with more capital to invest in other 0% financed deals. 

How do we do that you ask? We’re not going to reveal all of our secrets but it revolves around a series of negotiation techniques that were taught to us in a mentoring program. We are in no way scamming, or conning the seller. They are aware of the terms, but have agreed that our offer provides them a solution that works for them and gets the property sold. investment-property

If you like this investment strategy and want to take your business to a new and creative level I suggest you find out more about the Power of Zero by visiting Real Wealth.

Florida’s New Foreclosure Laws: House Bill 87

Florida is known for being one of the worst foreclosure states in the nation.  Florida is a judicial state, meaning foreclosures are required to pass through state courts before title is transferred to the lender and then sold in auction. In recent years this process could take anywhere from 480 days to 860 days! This lengthily timeline was largely due to the increase in defaulted mortgages around the market crash in 2007/2008. The court system and many lending institutions were unable to handle the increase in defaulted mortgages and in result prolonged the process of foreclosure.


House Bill 87 was passed by Governor Rick Scott earlier this year and began taking effect June 7th, 2013. There were a number of changes that could benefit and harm both the borrower as well as the lender. The most prominent change in Bill 87 is the expedited foreclosure process for any lien holder in default in uncontested cases or against homeowners who have an illegitimate defense. Coming from an investment/lender stand point, this is a tremendous victory. ALL lenders (including HOA’s) are now able to file a foreclosure complaint (Lis Pendins) and if uncontested within 45 days or failure to produce genuine defense allows the lender to enter a final judgement of foreclosure and request an order of foreclosure sale. In addition, HB87 made all foreclosure judgements final.

One major change that has negatively effected the lenders position is the requirement to produce the note or certification of ownership of the note when a deficiency judgement is filed. The lack there of can invalidate the deficiency judgement and can inevitably forces the lender to “dismiss” the borrower from the judgement “without prejudice” and begin the process over again at a later date. If the original note is lost, an affidavit with clear chain of title needs to be produced in order to initiate foreclosure.

The last major stipulation in House Bill 87 is a lessening in time allowance for deficiency judgements to be ordered. A deficiency judgement is the lenders ability to collect the difference in unpaid balance to the foreclosure sale price. Previously, the lender was able to collect for up to 5 years the difference in unpaid debt to sale price, but is now reduced to 1 year allowance to seek a deficiency judgment on residential properties with no more then 4 dwelling units. (If you’re interested in learning about 4 dwelling units or larger, please click here).


In our business, dealing with foreclosures is always a possibility. It is important not only for us to understand how these provisions affect our business but also for our partnering investors. It is important to us that we are able to give accurate estimations in timelines, and understanding the laws allows us to do this. Florida is finally able to liquidate some of those “empty house” assets, and Seasoned Funding is here to help!