Are you tired of feeling like a responsible adult every time you make a mortgage payment? Well, have no fear, because, with just a few simple steps, you too can join the exclusive club of mortgage defaulters!

Step 1: Stop Making Payments

The first and most obvious step to handling a mortgage default is to simply stop making payments. This will give you the feeling of financial freedom and allow you to enjoy life’s little pleasures, like ramen noodles and tap water. Just make sure to inform your lender that you won’t be sending any more payments their way by writing them a formal letter, or simply ignoring their calls.

Step 2: Rent Out Your Home

To make the most out of your mortgage default, consider renting out your home. Not only will you finally have a tenant to take care of the lawn, but you’ll also have a steady stream of income to pay for those ramen noodles. Just be sure to check your state’s laws before you start advertising your property on Craigslist, as there may be restrictions on renting out a foreclosed property.

Step 3: Blame it on the Dog

When your lender comes knocking, it’s always good to have a believable excuse for why you stopped making payments. A classic favorite is blaming it on the dog. Simply tell your lender that your furry friend ate it. Who could argue with that logic?

Step 4: Embrace the Nomadic Lifestyle

Once you’ve defaulted on your mortgage, you may find that you’re not exactly welcome in your own home. That’s when it’s time to embrace the nomadic lifestyle and hit the road! Not only will you be free from the burden of homeownership, but you’ll also get to see all the amazing sights the world has to offer. Just be sure to pack a sleeping bag and a sense of adventure.

Step 5: Live Happily Ever After

By following these simple steps, you too can join the ranks of mortgage defaulters and live happily ever after. Just remember, with great financial freedom comes great responsibility… to avoid the repo man.

Disclaimer: The above article is meant for humor purposes only and is not intended to provide financial advice or encourage mortgage default. It is important to always make payments on time and work with your lender to find a solution if you are struggling to do so.

But if that train left the station, drop into the Short Sale and Foreclosure lane for expert guidance to the next stop in life.

**Assignment of Contract OR Prehab**

Link to MORE Pictures (opens in new window)

936 Claremont Ave., Pueblo CO 81004

OWNER-OCCUPIED! DO NOT DISTURB!

3 bed / 2 Bath / 1 Car Garage

1,677 sq ft

Built: 1928

THERE WILL BE ONE PROPERTY SHOWING ON MONDAY, 3:30 PM FOR CLOSE ASSOCIATES ONLY! YES, WE HEARD YOU…NO HERDS, PLEASE! CONTACT NORBERTO AT 719-453-8690 TO REGISTER. POF/LOI REQUESTED.

DESCRIPTION

Here it is! The perfect opportunity for a flipper, or a buy-and-hold investor, OR even an owner-occupant to pick up an old charmer with so much potential! Simply needing a big-old hug, we have a crew on standby for you turnkey investors or, needing only minor work to be market-ready, any flipper using hard money, which we can help with, too, can get this done, or even a future homeowner using the FHA 203k or FNMA’s Homestyle Renovation loan can finish the project themselves and keep ALL the stinking equity! Because THAT’S how we roll!

LOCATION

(LOCATION, LOCATION) – Located about 1 mile to the Colorado State Fairgrounds and about 3 miles from downtown, and other amenities, we are in a quiet, desirable neighborhood, centrally located close to everything Pueblo has to offer!

COMPS

MAJOR upside here, depending on where you take this remodel!

• 215 Kenwood Dr, Pueblo, CO – Sold for $286,000 09/21
• 421 Jackson St, Pueblo CO – Sold for $325,000 10/21
• 619 Polk St, Pueblo, CO – Sold for $369,000  12/21

Sure but, how much equity, did you say?! We thought you’d never ask!

FINANCIALS

• Wholesale Contract Price: $160,000
  • Rehab: $75,000 (very generous estimate, we should be closer to $50k)
  • Closing costs: $3,200
  • Acquisition Basis (Wholesale) : $238,200
  • Potential Equity: $80,000 – ∞?
• Prehab Sale Price: $319,900
  • Closing Costs: $6,400
  • Acquisition Basis (Retail): $326,300

Do we have your attention yet?

PROJECTIONS

• Fix and flip – Up to 11% ROI
• Buy and Hold – Assuming a 20% vacancy and 18% property management fees, a short-term rental up to:
  • 8.1% ROE
  • 12% IRR
  • 7.9 GRM
  • 3% COCR

TERMS

The assignable contract is being offered for a quick, as-is sale to all investors. Prehab terms are available for a qualified buyer. Ask for details!

• Non-refundable $10,000 Earnest Money Deposit

• Contract Commitment Deadline: 9/20/2022 (or we’re flipping it ourselves!)

• Close Date: 09/29/21

FINANCING

Investor Financing Available! Please follow this link to submit your Funding Request Form (opens new window).

Text/Call OR email Norberto: 719.453.8690 | no******@re********************.com">Email

*DISCLOSURE* – THIS COMMUNICATION IS FROM A COLORADO LICENSED BROKER OPERATING IN THEIR OWN FINANCIAL INTERESTS. THE INFORMATION IS PROVIDED AS A COURTESY FOR THE PURPOSES OF MARKETING A LEGAL, ASSIGNABLE CONTRACT, SEPARATE FROM THE REAL ESTATE. EXPLORING ALL OPTIONS AS PART OF OUR DUE DILIGENCE, AXIOM REAL ESTATE SERVICES, LLC IS CONSIDERING SELLING ITS AS-IS, ASSIGNABLE CONTRACT FOR THIS PROPERTY WITH THE BUYER PAYING ALL CLOSING COSTS. THE BUYER IS NOT TO RELY ON ANY REPRESENTATIONS, WHETHER WRITTEN OR ORAL, REGARDING THE PROPERTY ABOVE AND MUST DO THEIR OWN, INDEPENDENT DUE DILIGENCE. NEITHER AXIOM REAL ESTATE SERVICES, LLC NOR ITS MEMBERS, DIRECTORS, OR EMPLOYEES MAKE ANY GUARANTEES CONCERNING PROPERTY CONDITION, VALUE, CHARACTERISTICS, OR ANY FINANCIAL BENEFITS. WE DO NOT REPRESENT THE PROPERTY OWNER. PRICE IS BASED ON A CASH OR HARD MONEY OFFER AND IS NET TO THE SELLER. THE “WHOLESALE CONTRACT PRICE” BUYER PAYS ALL CLOSING COSTS. ALL OFFERS REQUIRE A $10,000 NON-REFUNDABLE EARNEST MONEY DEPOSIT.