The New York Jets quarterback Brett Favre reportedly has a torn biceps tendon in his right arm that will not need major surgery to repair, ESPN said Tuesday. He has overcome the odds many times just as the Home Seller Assist program created by John Alexander and also known as We Provide The Cash has.
After the Jets’ season-ending 24-17 loss to Miami on Sunday, Favre said he’s been feeling discomfort in his strong right arm “for quite a while.” Many times he has had to adapt his game, and that is what John Alexander has done with the Home Seller Assist program in dealing with short sales and foreclosures
Only time will tell with Brett Favre and the New York Jets, but the Home Seller Assist program is leading the field when it comes to foreclosures and short sales!
Tuesday, December 30, 2008
Saturday, December 27, 2008
Commercial real estate is every bit as compromised as residential
Insurance companies are full of toxic financial products
Pension funds are full of toxic products and failing investments
Credit card debts, tuition loans and car loans are going belly up
Fraud remains endemic in our money and our markets
The remaining big banks are on life support
Bailouts have only shored up crony capitalists to date
Derivatives continue to implode behind the scenes
Resetting of mortgage loans is going to cause another round of defaults and foreclosures
Government “solutions” are destined to worsen the problems
Municipal bonds are failing
Numerous states like California, Arizona and Florida are bankrupt
A lot of hedge funds are imploding
Pension funds are full of toxic products and failing investments
Credit card debts, tuition loans and car loans are going belly up
Fraud remains endemic in our money and our markets
The remaining big banks are on life support
Bailouts have only shored up crony capitalists to date
Derivatives continue to implode behind the scenes
Resetting of mortgage loans is going to cause another round of defaults and foreclosures
Government “solutions” are destined to worsen the problems
Municipal bonds are failing
Numerous states like California, Arizona and Florida are bankrupt
A lot of hedge funds are imploding
Thursday, December 18, 2008
Investors Fight Foreclosure On Their Own
BY KATHLEEN DOLER
FOR INVESTOR'S BUSINESS DAILY
Posted 12/4/2008
Investors struggling to make mortgage payments get little help staving off foreclosure, while strapped primary-home borrowers receive more — including unsolicited loan-modification offers.
Lenders and government agencies have started a number of programs to make loans easier to afford. Yet every plan has the stated goal of helping just homeowners borrowing for "owner-occupied" properties.
Investors are never mentioned, but own nearly a third of homes in the foreclosure process, data on default and auction-sale notices, bank repossessions and the like suggest.
It has led some observers to question whether the foreclosure tide can really be tamed, absent some aid to investors.
Players Sidelined
Rick Sharga, senior vice president at foreclosure marketplace RealtyTrac, thinks all borrowers should be eligible for loan modifications.
"I can't think of a single reason that you wouldn't extend these loan-modification programs to investors," he said. "Why not extend the net out as broadly as possible, rather than flood the market with more bank repossessions?"
The latest RealtyTrac data show that in October, U.S. foreclosure filings rose 25% from a year ago to 279,561. Of those, 86,664, about 31%, were on investor-owned properties.
But investment properties are apt to comprise more like half of home foreclosures, in the view of mortgage auditor Moe Bedard, president of Loan Safe Solutions, in Corona, Calif. That's because, he says, many borrowers don't tell the lender that a property is an investment.
A few lenders offer to do short sales and deeds-in-lieu (of foreclosure) for some investment-property owners, says homeowners' loan consultant Eric Rice, chief executive of DyerBeech Enterprises, in San Diego. But he says loan modifications — such as reducing an interest rate or extending the term — have been rare and slow to proceed.
Out of 100 housing investors looking for loan modifications, he says maybe 15 will receive them and it usually takes "five to six months."
"It's not helping anyone by not helping everyone," he said.
But Mark Leyes, spokesman for the California Department of Corporations, says the foreclosure problem is so large, lenders and government agencies have had to focus their approach. The department has been working with 10 California lenders to encourage loan modifications.
"It's not escaped our notice (that investors aren't addressed), but our focus has been on owner-occupied properties. We're trying to preserve people's homes," Leyes said.
Sharga thinks some lenders have wrongly shunned investors as scapegoats for housing's bubble and bust.
The Federal Deposit Insurance Corp.'s primary focus has been on helping borrowers who are owner-occupants, thus "stabilizing neighborhoods," according to Andrew Gray, a spokesman for the agency.
"These loans are well-suited for a streamlined process where the borrower's income and property value can be readily documented," he said. Investment homes "require more attention on a loan-by-loan basis."
Now many investors and real estate agents are using the Home Seller Assist program created by John Alexander and also known as We Provide The Cash which provides them with 1% funding to purchase short sales and it is not paid back until after they flip the properties to an end buyer.
FOR INVESTOR'S BUSINESS DAILY
Posted 12/4/2008
Investors struggling to make mortgage payments get little help staving off foreclosure, while strapped primary-home borrowers receive more — including unsolicited loan-modification offers.
Lenders and government agencies have started a number of programs to make loans easier to afford. Yet every plan has the stated goal of helping just homeowners borrowing for "owner-occupied" properties.
Investors are never mentioned, but own nearly a third of homes in the foreclosure process, data on default and auction-sale notices, bank repossessions and the like suggest.
It has led some observers to question whether the foreclosure tide can really be tamed, absent some aid to investors.
Players Sidelined
Rick Sharga, senior vice president at foreclosure marketplace RealtyTrac, thinks all borrowers should be eligible for loan modifications.
"I can't think of a single reason that you wouldn't extend these loan-modification programs to investors," he said. "Why not extend the net out as broadly as possible, rather than flood the market with more bank repossessions?"
The latest RealtyTrac data show that in October, U.S. foreclosure filings rose 25% from a year ago to 279,561. Of those, 86,664, about 31%, were on investor-owned properties.
But investment properties are apt to comprise more like half of home foreclosures, in the view of mortgage auditor Moe Bedard, president of Loan Safe Solutions, in Corona, Calif. That's because, he says, many borrowers don't tell the lender that a property is an investment.
A few lenders offer to do short sales and deeds-in-lieu (of foreclosure) for some investment-property owners, says homeowners' loan consultant Eric Rice, chief executive of DyerBeech Enterprises, in San Diego. But he says loan modifications — such as reducing an interest rate or extending the term — have been rare and slow to proceed.
Out of 100 housing investors looking for loan modifications, he says maybe 15 will receive them and it usually takes "five to six months."
"It's not helping anyone by not helping everyone," he said.
But Mark Leyes, spokesman for the California Department of Corporations, says the foreclosure problem is so large, lenders and government agencies have had to focus their approach. The department has been working with 10 California lenders to encourage loan modifications.
"It's not escaped our notice (that investors aren't addressed), but our focus has been on owner-occupied properties. We're trying to preserve people's homes," Leyes said.
Sharga thinks some lenders have wrongly shunned investors as scapegoats for housing's bubble and bust.
The Federal Deposit Insurance Corp.'s primary focus has been on helping borrowers who are owner-occupants, thus "stabilizing neighborhoods," according to Andrew Gray, a spokesman for the agency.
"These loans are well-suited for a streamlined process where the borrower's income and property value can be readily documented," he said. Investment homes "require more attention on a loan-by-loan basis."
Now many investors and real estate agents are using the Home Seller Assist program created by John Alexander and also known as We Provide The Cash which provides them with 1% funding to purchase short sales and it is not paid back until after they flip the properties to an end buyer.
Tuesday, December 16, 2008
The end of inflated leverage
An extreme relaxation of lending standards inflated the housing bubble.
"Shoddy underwriting on mortgages" is the primary cause of the housing crisis, says York, the Wachovia economist. "People got caught off-guard by how bad it was."
Millions of home buyers — poor, rich and middle class — were approved to buy homes at prices that had been out-of-reach just a few years earlier. Lenders offered low introductory "teaser" rates on adjustable rate mortgages and approved borrowers based on artificially low mortgage payments, not the higher ones that took effect later.
What else changed:
• Optional payments on principal —In 2005, 29% of new mortgages allowed borrowers to pay interest only — not principal — or pay less than the interest due and add the cost to the principal. That was up from 1% in 2001, according to Credit Suisse, an investment bank.
• No verification of income —Half of mortgages generated in 2006 required no or minimal documentation of household income, reports Credit Suisse.
• Tiny down payments —In 1989, the average down payment for first-time home buyers was 10%, reports the National Association of Realtors. In 2007, it was 2%.
Low down payments and ARMs gave homeowners enormous financial leverage to pay high home prices. Leverage boosts buying power through debt, the same way a 100-pound woman uses a lever to jack up a 3,000-pound car.
Consider a couple with $20,000 cash. In 2006, they easily could get a 5% down mortgage to buy a $400,000 house. Today, a 10% down payment would limit the couple to a $200,000 house.
"Leverage matters a lot when you buy a house," says University of Wisconsin economist Morris Davis, an expert on housing prices and rents. "We're not going to go back to the days of only 20% (down payment) mortgages, but the days of putting nothing down are long gone."
Easy access to borrowed money reset all housing prices, even those paid by cautious borrowers. People of all income classes moved up a notch, Census Bureau housing data show.
The sale of new homes costing $750,000 or more quadrupled from 2002 to 2006. The construction of inexpensive homes costing $125,000 or less fell by two-thirds. The biggest boom was in the middle. Homes costing $200,000 to $300,000 became affordable to millions of families.
The failed titans of home lending — Countrywide Financial, IndyMac Bank and Washington Mutual — specialized in high-risk, highly leveraged loans.
"The price correction has been severe, rapid and probably permanent because lending standards have changed," says mortgage credit analyst Suzanne Mistretta, a senior director at Fitch Ratings, a bond rating company. "We are not going to see 2006 peak levels for a very, very long time."
"Shoddy underwriting on mortgages" is the primary cause of the housing crisis, says York, the Wachovia economist. "People got caught off-guard by how bad it was."
Millions of home buyers — poor, rich and middle class — were approved to buy homes at prices that had been out-of-reach just a few years earlier. Lenders offered low introductory "teaser" rates on adjustable rate mortgages and approved borrowers based on artificially low mortgage payments, not the higher ones that took effect later.
What else changed:
• Optional payments on principal —In 2005, 29% of new mortgages allowed borrowers to pay interest only — not principal — or pay less than the interest due and add the cost to the principal. That was up from 1% in 2001, according to Credit Suisse, an investment bank.
• No verification of income —Half of mortgages generated in 2006 required no or minimal documentation of household income, reports Credit Suisse.
• Tiny down payments —In 1989, the average down payment for first-time home buyers was 10%, reports the National Association of Realtors. In 2007, it was 2%.
Low down payments and ARMs gave homeowners enormous financial leverage to pay high home prices. Leverage boosts buying power through debt, the same way a 100-pound woman uses a lever to jack up a 3,000-pound car.
Consider a couple with $20,000 cash. In 2006, they easily could get a 5% down mortgage to buy a $400,000 house. Today, a 10% down payment would limit the couple to a $200,000 house.
"Leverage matters a lot when you buy a house," says University of Wisconsin economist Morris Davis, an expert on housing prices and rents. "We're not going to go back to the days of only 20% (down payment) mortgages, but the days of putting nothing down are long gone."
Easy access to borrowed money reset all housing prices, even those paid by cautious borrowers. People of all income classes moved up a notch, Census Bureau housing data show.
The sale of new homes costing $750,000 or more quadrupled from 2002 to 2006. The construction of inexpensive homes costing $125,000 or less fell by two-thirds. The biggest boom was in the middle. Homes costing $200,000 to $300,000 became affordable to millions of families.
The failed titans of home lending — Countrywide Financial, IndyMac Bank and Washington Mutual — specialized in high-risk, highly leveraged loans.
"The price correction has been severe, rapid and probably permanent because lending standards have changed," says mortgage credit analyst Suzanne Mistretta, a senior director at Fitch Ratings, a bond rating company. "We are not going to see 2006 peak levels for a very, very long time."
Saturday, December 13, 2008
Fannie Mae to Suspend Foreclosures Until January 2009
WASHINGTON, DC -- In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE:FNM) today issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009.
The temporary suspension of foreclosures is designed to allow affected borrowers facing foreclosure to retain their homes while Fannie Mae works with mortgage servicers to implement the streamlined modification program scheduled to launch December 15. Foreclosure attorneys and loan servicers will be instructed to use the additional time to reach out to borrowers who have defaulted on their loans and continue to pursue workout options. The initiative applies to loans owned or securitized by Fannie Mae.
The streamlined modification program is aimed at the highest risk borrower who has missed three payments or more, owns and occupies the primary residence, and has not filed for bankruptcy. The program creates a fast-track method for getting troubled borrowers into an affordable monthly payment through a mix of reducing the mortgage interest rate, extending the life of the loan or even deferring payments on part of the principal. Servicers have flexibility in the approach, but the objective is to create a more affordable payment for borrowers at risk of foreclosure.
"The streamlined modification program by Fannie Mae, Freddie Mac, Hope Now and 27 mortgage servicers is an important step forward in addressing the systemic issues driving the increase in foreclosures," said Fannie Mae President and Chief Executive Officer Herb Allison. "Until the streamlined modification program is fully implemented, we felt it was in the best interest of both borrowers and Fannie Mae to take this extra step to ensure that homeowners with the desire and ability to prevent a foreclosure have an opportunity to stay in their homes. We encourage other servicers of non-GSE mortgages to participate in the streamlined modification program to bolster our collective efforts to stem the foreclosure crisis."
Fannie Mae will be working with foreclosure attorneys and servicers to reach out to the more than 10,000 borrowers the company estimates would be affected during this period. Borrowers who have Fannie Mae loans that are scheduled for foreclosure between November 26, 2008 and January 9, 2009, will be contacted directly by the attorney handling the foreclosure. If the home is occupied, Fannie Mae has instructed servicers and attorneys to suspend the foreclosure.
Allison also said Fannie Mae's loan servicers are prepared to work with borrowers during this period, even if previous workout efforts have been unsuccessful. As part of the company's "Second Look" initiative, Fannie Mae personnel have been reviewing seriously delinquent loans to determine if the borrower has been contacted and all workout options have been exhausted.
The streamlined modification program and temporary suspension of foreclosures are two of a series of steps Fannie Mae has taken to expand its foreclosure prevention efforts, which are designed to give loan servicers and foreclosure attorneys tools to find the best solution for a borrower in financial trouble. Fannie Mae and its many partners in the housing industry urge borrowers in financial difficulty to reach out to their loan servicers, regardless of whether they are facing imminent foreclosure. Solutions may be available that could make an existing mortgage more affordable.
"Fannie Mae is committed to working with FHFA to implement the streamlined modification program as quickly as possible to help prevent unnecessary foreclosures," Allison said. "We must and will do more."
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America's housing market. Our job is to help those who house America.
The temporary suspension of foreclosures is designed to allow affected borrowers facing foreclosure to retain their homes while Fannie Mae works with mortgage servicers to implement the streamlined modification program scheduled to launch December 15. Foreclosure attorneys and loan servicers will be instructed to use the additional time to reach out to borrowers who have defaulted on their loans and continue to pursue workout options. The initiative applies to loans owned or securitized by Fannie Mae.
The streamlined modification program is aimed at the highest risk borrower who has missed three payments or more, owns and occupies the primary residence, and has not filed for bankruptcy. The program creates a fast-track method for getting troubled borrowers into an affordable monthly payment through a mix of reducing the mortgage interest rate, extending the life of the loan or even deferring payments on part of the principal. Servicers have flexibility in the approach, but the objective is to create a more affordable payment for borrowers at risk of foreclosure.
"The streamlined modification program by Fannie Mae, Freddie Mac, Hope Now and 27 mortgage servicers is an important step forward in addressing the systemic issues driving the increase in foreclosures," said Fannie Mae President and Chief Executive Officer Herb Allison. "Until the streamlined modification program is fully implemented, we felt it was in the best interest of both borrowers and Fannie Mae to take this extra step to ensure that homeowners with the desire and ability to prevent a foreclosure have an opportunity to stay in their homes. We encourage other servicers of non-GSE mortgages to participate in the streamlined modification program to bolster our collective efforts to stem the foreclosure crisis."
Fannie Mae will be working with foreclosure attorneys and servicers to reach out to the more than 10,000 borrowers the company estimates would be affected during this period. Borrowers who have Fannie Mae loans that are scheduled for foreclosure between November 26, 2008 and January 9, 2009, will be contacted directly by the attorney handling the foreclosure. If the home is occupied, Fannie Mae has instructed servicers and attorneys to suspend the foreclosure.
Allison also said Fannie Mae's loan servicers are prepared to work with borrowers during this period, even if previous workout efforts have been unsuccessful. As part of the company's "Second Look" initiative, Fannie Mae personnel have been reviewing seriously delinquent loans to determine if the borrower has been contacted and all workout options have been exhausted.
The streamlined modification program and temporary suspension of foreclosures are two of a series of steps Fannie Mae has taken to expand its foreclosure prevention efforts, which are designed to give loan servicers and foreclosure attorneys tools to find the best solution for a borrower in financial trouble. Fannie Mae and its many partners in the housing industry urge borrowers in financial difficulty to reach out to their loan servicers, regardless of whether they are facing imminent foreclosure. Solutions may be available that could make an existing mortgage more affordable.
"Fannie Mae is committed to working with FHFA to implement the streamlined modification program as quickly as possible to help prevent unnecessary foreclosures," Allison said. "We must and will do more."
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America's housing market. Our job is to help those who house America.
Thursday, December 11, 2008
Help Yourself by Putting Your Customers First
By Paul Lawrence
An insurance agent named Tolbert had a remarkable ability to sell insurance. He'd been trained to sell people the most insurance that he could and he did it well, according to Stedman Graham in his book Build Your Own Life Brand. But although Tolbert was very successful, he was not happy.
Deep in his heart, he didn't feel right about pushing people to buy more insurance than they probably needed. So, he changed his ways and started telling prospects the truth. If they asked him about policies they didn't really need, he told them why he didn't recommend them - even if it cost him a larger commission.
Then something happened that Tolbert hadn't anticipated. His income didn't drop. In fact, it shot way up. Turns out his clients had learned to trust him so much that they not only took all their insurance business to him, they enthusiastically recommended him to their friends and relatives.
I'm not surprised. I've found that whenever I've truthfully told a customer that the product he was interested in really wasn't right for someone in his particular situation, I may have lost that sale... but almost always ended up gaining a long-term customer who bought many more of my products down the road.
Certain people skills are a crucial factor for success in business - and putting the needs of your customers first is one of them. You'll find that your own interests will get served in the process.
Selling is not about making money - it's about solving your customers' problems.
An insurance agent named Tolbert had a remarkable ability to sell insurance. He'd been trained to sell people the most insurance that he could and he did it well, according to Stedman Graham in his book Build Your Own Life Brand. But although Tolbert was very successful, he was not happy.
Deep in his heart, he didn't feel right about pushing people to buy more insurance than they probably needed. So, he changed his ways and started telling prospects the truth. If they asked him about policies they didn't really need, he told them why he didn't recommend them - even if it cost him a larger commission.
Then something happened that Tolbert hadn't anticipated. His income didn't drop. In fact, it shot way up. Turns out his clients had learned to trust him so much that they not only took all their insurance business to him, they enthusiastically recommended him to their friends and relatives.
I'm not surprised. I've found that whenever I've truthfully told a customer that the product he was interested in really wasn't right for someone in his particular situation, I may have lost that sale... but almost always ended up gaining a long-term customer who bought many more of my products down the road.
Certain people skills are a crucial factor for success in business - and putting the needs of your customers first is one of them. You'll find that your own interests will get served in the process.
Selling is not about making money - it's about solving your customers' problems.
Monday, December 8, 2008
Proof of Funds Letters!
As a Platinum Member of HSA, you are entitled to
use our Investor’s Private Funds.
Cost to use the funds is 1% plus $300
The fee is paid out of closing!
Which means Nothing is paid uprfront and there are No CREDIT checks!
Now as you may already know, Banks won’t consider your offer on
Short Sales or REO’s without a “Proof of Funds” Letter.
This is the part that stops most investors dead in their tracks…until now.
Here’s a 2 minute video on how to obtain and print out as many of your Proof of Funds Letters as you need:
Click Here for 2 Minute Video!
If you are not a Platinum member yet, visit us at:
http://www.FUNDSFORSHORTSALES.COM
and find out how you can be flipping short sales and
REO homes using NO CREDIT AND NO CASH!
Make sure you sign up for the FREE 30 Day Trial!
It’s time to think big…really BIG!
Larry Potter
Home Seller Assist
847-872-4047
What makes a successful short sale?
Everybody has to believe that they are a winner.
The seller needs to know that they've gotten out of a bad situation with less credit damage and a new start.
The buyer wants to make a purchase of a property below the true market value, at least in the near future.
The lender must believe that the short sale will net them at least the same or more money than a foreclosure auction.
If we're the buyer, then our interests are best served by a purchase at the lowest possible price that will be approved by the lender. And remember, the seller gets no cash, so we are just showing them a way out of a foreclosure action.
Here's what you're looking for as the buyer in a short sale transaction:
A homeowner upside-down in their loan. Their home is worth less than they owe on it.
Clear title and no massive liens or claims against the property that can't be negotiated away.
Enough time to complete the short sale before foreclosure auction.
A willing seller with a desire to help in order to avoid foreclosure.
A current valuation that will allow you to buy the home for a huge discount, creating instant equity.
True hardship on the part of the seller to convince the lender a short sale is the best option.
If VA or FHA, the situation meets their criteria for short sale.
In short, you are looking for a homeowner owing more on their home than they can get in a sale, and a situation where the lender will approve a purchase price that meets your investment goals. And with today's economy, that's easy to find.
Friday, December 5, 2008
Networking Conversation Tips
Just about any event - whether a holiday cocktail party or industry conference - can be a major networking opportunity. Many partnerships and multimillion-dollar deals have started as impromptu and informal five-minute conversations. Here are four tips to help turn your small talk into something more:
When describing yourself and your business, focus on details that could benefit the other person.
Don't talk their ear off. Give and take is essential to good conversation.
Maintain eye contact. And try to smile only when it's appropriate. (No non-stop grinning.)
Don't talk too fast, too quietly, or in a monotone. Remember you are communicating.
http://www.A-ZShortSales.com
When describing yourself and your business, focus on details that could benefit the other person.
Don't talk their ear off. Give and take is essential to good conversation.
Maintain eye contact. And try to smile only when it's appropriate. (No non-stop grinning.)
Don't talk too fast, too quietly, or in a monotone. Remember you are communicating.
http://www.A-ZShortSales.com
Tuesday, December 2, 2008
Get Rid Of Your Non-Performing Assets
We Buy Non-Performing Assets
...We have billions to buy your non-performing assets...
Simply send a spreadsheet of your portfolio...
...Mortgage loans, car loans...
Credit card debt, installment loans....
...Our hedgefunds are looking to buy now...
Contact Larry Potter Now At lpotter33@gmail.com
Sunday, November 30, 2008
Make Money Flipping Real Estate - How to Flip Properties For Profits
If you're on the lookout for a reliable and effective way to earn money, you might want to check out how to make money flipping real estate. Flipping real estate is the hottest way to make money in the real estate business these days.
Especially with the current credit crunch, if you have the capital, there are plenty of cheap real estate deals since there are more foreclosures and seized real estate auctions available.
There are many ways with which you can profit with real estate. You can let others do the work, or skip renovations entirely and still sell the house as is, or put the newly fixed house up for lease, not rent. The most popular strategy, however, is the "fix and flip," which is basically buying property and selling it quickly.
If you know how to do things right, the "fix and flip" is as easy as it sounds. First you buy land with a run-down house. You can check out some of the foreclosure listings or seized real estate in your local classified ads.
Another way is to go online and research some of the online seized real estate auctions. You can get a pretty good idea of the current market value of the homes in the area you plan to buy and sell.
Afterwards you make the necessary developments, including fixing the house. Then you sell the entire property. You can gain a huge amount of profit if you buy the house for a cheap price, pay for reasonable renovating expenses, and sell the property for or above its market value.
Your profit will depend on a lot of factors. These include your ability to get a bargain for the real estate you're interested in, a good estimate of the cost and period of repairs and renovation, and employment of a real estate agent to help you sell the finished product.
Like other businesses, to make money flipping real estate also takes good advertising and right timing.
Click here and learn how to make money flipping real estate. Learn the secrets of making money selling real estate.
Article Source: http://EzineArticles.com/?expert=Ricky_Lim
Especially with the current credit crunch, if you have the capital, there are plenty of cheap real estate deals since there are more foreclosures and seized real estate auctions available.
There are many ways with which you can profit with real estate. You can let others do the work, or skip renovations entirely and still sell the house as is, or put the newly fixed house up for lease, not rent. The most popular strategy, however, is the "fix and flip," which is basically buying property and selling it quickly.
If you know how to do things right, the "fix and flip" is as easy as it sounds. First you buy land with a run-down house. You can check out some of the foreclosure listings or seized real estate in your local classified ads.
Another way is to go online and research some of the online seized real estate auctions. You can get a pretty good idea of the current market value of the homes in the area you plan to buy and sell.
Afterwards you make the necessary developments, including fixing the house. Then you sell the entire property. You can gain a huge amount of profit if you buy the house for a cheap price, pay for reasonable renovating expenses, and sell the property for or above its market value.
Your profit will depend on a lot of factors. These include your ability to get a bargain for the real estate you're interested in, a good estimate of the cost and period of repairs and renovation, and employment of a real estate agent to help you sell the finished product.
Like other businesses, to make money flipping real estate also takes good advertising and right timing.
Click here and learn how to make money flipping real estate. Learn the secrets of making money selling real estate.
Article Source: http://EzineArticles.com/?expert=Ricky_Lim
Tuesday, November 25, 2008
Sell Mortgage Note
You've been holding on to a mortgage note for a while, and finally you decided to look into the possibility of selling your note. You're probably asking yourself a variety questions. How long does it take, what steps are involved, how much do you have to sell, and inevitably, what's the best way to proceed in selling your note and obtaining the most amount of cash? Let's guide you through the answers to these questions.
How long does it take? Typically, the process will take between 2 to 4 weeks. What steps are involved? The process begins by finding a note buyer, which is a company that will purchase your note.
How much of the note do you need to sell? You have the option of selling only a portion of your payments, or the entire note, which-ever you choose. Now, onto the most important question.
What's the best way to sell your note in order to get the most amount of cash? To answer this question, you need to understand a few things about the cash flow industry. Note buyers usually have access to an unlimited amount of cash to purchase notes.
Some note buyers are direct funding sources (they have their own capital) and some note buyers are actually brokers, who utilize multiple sources of capital in order to try to get you the best deal. In both cases, direct funding companies and brokers usually have different rates in which they obtain the money needed to purchase notes, which eventually means different purchase prices.
Then obviously, in order to get the best price you need to find the note buyer with the best rates. This is easier said then done. You could scour the internet calling multiple note buyers and proceed to give them the same information, over, and over, and over. Then, within a few days, you'll get an estimate cash buyout price for your note. Once you receive these price quotes, you'll need to go back to the aforementioned companies with the highest bid, and see if they can beat it.
This process does work, but it can be time consuming, and at times, frustrating.
The ideal hypothetical scenario would be this: In a perfect world, you would gather multiple top note buyers in one location on-line. Ideally then, you would be able to list details of your note once, and only once, and with one push of a button send each and every one of the note buyers the information needed to give you a quote.
An even better scenario would be if they could all see the current highest bid, so you would not need to go back and forth with companies telling them what the other company has offered
This too good to be true perfect world scenario would also allow you to relax in the comfort of your own home, while funding companies compete on-line to purchase your note.
Get quotes from multiple mortgage note buyers. Make them compete for your business: Sell Mortgage Note
Article Source: http://EzineArticles.com/?expert=Sarah_Celeste
How long does it take? Typically, the process will take between 2 to 4 weeks. What steps are involved? The process begins by finding a note buyer, which is a company that will purchase your note.
How much of the note do you need to sell? You have the option of selling only a portion of your payments, or the entire note, which-ever you choose. Now, onto the most important question.
What's the best way to sell your note in order to get the most amount of cash? To answer this question, you need to understand a few things about the cash flow industry. Note buyers usually have access to an unlimited amount of cash to purchase notes.
Some note buyers are direct funding sources (they have their own capital) and some note buyers are actually brokers, who utilize multiple sources of capital in order to try to get you the best deal. In both cases, direct funding companies and brokers usually have different rates in which they obtain the money needed to purchase notes, which eventually means different purchase prices.
Then obviously, in order to get the best price you need to find the note buyer with the best rates. This is easier said then done. You could scour the internet calling multiple note buyers and proceed to give them the same information, over, and over, and over. Then, within a few days, you'll get an estimate cash buyout price for your note. Once you receive these price quotes, you'll need to go back to the aforementioned companies with the highest bid, and see if they can beat it.
This process does work, but it can be time consuming, and at times, frustrating.
The ideal hypothetical scenario would be this: In a perfect world, you would gather multiple top note buyers in one location on-line. Ideally then, you would be able to list details of your note once, and only once, and with one push of a button send each and every one of the note buyers the information needed to give you a quote.
An even better scenario would be if they could all see the current highest bid, so you would not need to go back and forth with companies telling them what the other company has offered
This too good to be true perfect world scenario would also allow you to relax in the comfort of your own home, while funding companies compete on-line to purchase your note.
Get quotes from multiple mortgage note buyers. Make them compete for your business: Sell Mortgage Note
Article Source: http://EzineArticles.com/?expert=Sarah_Celeste
Thursday, November 20, 2008
Short Sales from A-Z This Saturday Morning
Special Note: This information is coming from an
exclusive source and is not generally available
to the rest of the public will not be presented
again in order to keep it confined to only a select
group.
This Saturday morning (time not yet set) all Platinum
level members will receive live training on how to do short sales
from A-Z and how to incorporate the 1% funds to purchase an unlimited
amount of short sales and you will also gain access to members only
title company that knows how to close out short sale flips in ALL 50 states.
The live webcast training will take place at
http://www.fundsforshortsales.com
Register now!
You will be notified of the starting time. Register now!
Please have a notepad near you and if you miss some
details, you will be provided with a video of the
presentation for you exclusive use only
See you there, this will be great.
Larry Potter
www.FundsForShortSales.com
PS: 1% Funds Available for REOs too
Monday, November 17, 2008
Why Get Your Hands Dirty When You Don't Have to?
Where there's a stampede, there's an opportunity...
Thousands of wannabe entrepreneurs have jumped on a bandwagon to find, fix-up and flip foreclosures.
They thought they were being smart. They thought they were doing the opposite to the crowd and had the license to print money.
Little do they know... they ARE the crowd!
Now, please don't misunderstand me. It's a fact that many properties (sadly) are becoming available at rock bottom prices due to foreclosure. It's also a fact that a few people are making money by flipping foreclosures...
And they're earning every penny (when it all works out)!
Flipping foreclosures may sound great in principle, but stop and think about what you have to go through to achieve that...
Not my idea of easy money.
So what if you could wave a magic wand and cash in on the foreclosure
situation WITHOUT the need for ANY of the hard work? The new
1% funding for flipping short sales provided by thru the Home Seller Assist
program, along with our special title company that closes short sale
flips in all 50 states allows you to do that. Let John Alexander show
you how at the special webcast held on Tues and Wed evenings at
http://www.fundsforshortsales.com/ followed by a Q&A session.
Register now and keep trying if the server is busy, we had over
10,000 tune in last time!
Thousands of wannabe entrepreneurs have jumped on a bandwagon to find, fix-up and flip foreclosures.
They thought they were being smart. They thought they were doing the opposite to the crowd and had the license to print money.
Little do they know... they ARE the crowd!
Now, please don't misunderstand me. It's a fact that many properties (sadly) are becoming available at rock bottom prices due to foreclosure. It's also a fact that a few people are making money by flipping foreclosures...
And they're earning every penny (when it all works out)!
Flipping foreclosures may sound great in principle, but stop and think about what you have to go through to achieve that...
Not my idea of easy money.
So what if you could wave a magic wand and cash in on the foreclosure
situation WITHOUT the need for ANY of the hard work? The new
1% funding for flipping short sales provided by thru the Home Seller Assist
program, along with our special title company that closes short sale
flips in all 50 states allows you to do that. Let John Alexander show
you how at the special webcast held on Tues and Wed evenings at
http://www.fundsforshortsales.com/ followed by a Q&A session.
Register now and keep trying if the server is busy, we had over
10,000 tune in last time!
Sunday, November 9, 2008
Marketing In A Turbulent Economy
It’s looking pretty darn ugly out there!
Suffice to say that the stock market and economy took a pretty sound thrashing this week.
And MANY people are worried.
There are a whole lot of people out there who are concerned about what the present economic climate will mean to their businesses.
Well, what I can say — with confidence — is that a downturn in the current economy does NOT have to be a major roadblock for YOUR Internet business! Bringing in over $37,000 since mid-June from the Home Seller Assist program created by John Alexander is proof that it can be done.
One key to surviving (even thriving) during this period of uncertainty is to know your customers!
It’s more critical than EVER for you to understand EXACTLY who they are… where they’re coming from… their interests, goals, and desires. This will allow you to create laser-focussed marketing copy that speaks DIRECTLY to them and solves their specific problems, as well as offer products that you know for sure will make a difference in their lives.
You’ll be rewarded with continued customer loyalty, and ongoing sales!
So if you don’t already know all you can about your customers and visitors, NOW is definitely the time to find out…
… and the easiest and fastest way to do that is with a survey.
… and the easiest and fastest way to do that is with a survey.
Here are the SIX STEPS you need to follow to create an effective and informative survey that will help you connect with your customers — and continue to profit — during the current financial turmoil:
Step #1: Plan Your Survey
Step #1: Plan Your Survey
As with everything else you do with your business, you’ll have the greatest success with your survey if you do some advance planning.
Without a solid idea of what exactly it is you hope to learn from your results, you can easily end up creating a survey consisting of fairly random questions that ultimately don’t lead you anywhere.
Without a solid idea of what exactly it is you hope to learn from your results, you can easily end up creating a survey consisting of fairly random questions that ultimately don’t lead you anywhere.
So make sure you take the time to sit down and do some brainstorming and list making.
Decide what your goals with the survey are. Are you trying to learn more about specific products you offer? Looking for ways you could give everyone a more positive customer care experience? Trying to gather demographic information so you can segment your list better and send out tailored offers?
Decide what your goals with the survey are. Are you trying to learn more about specific products you offer? Looking for ways you could give everyone a more positive customer care experience? Trying to gather demographic information so you can segment your list better and send out tailored offers?
Be clear about what you’re hoping to accomplish with the survey, and you’ll be in great shape when it comes time to writing the actual survey questions.
Step #2: Choose Your Weapon
Step #2: Choose Your Weapon
One thing I like about surveys is that they’re super simple for pretty much ANY business owner to administer, no matter how small your budget, or limited your technical knowledge.
That’s because there are lots of web-based services out there that will host your survey for you… for FREE!
That’s because there are lots of web-based services out there that will host your survey for you… for FREE!
You just design the survey using their simple point-and-click interface, enter the text for your questions, and then email a link to the survey to your customers and subscribers.
When your customers show up, the automated survey is online and ready to take!
And best of all, many of these free services offer a reasonable number of reporting features, too, making it easy to interpret your results.
Of course, most of these services offer paid upgrades as well, which allow you to create more complex surveys and get more sophisticated reports, but for a typical small survey, the freebies work just fine.
Here is one that I’ve used and like:
Designing your survey takes a bit of skill, but with a small amount of planning (there’s that word again!), you’ll have no problem putting an effective one together. Just be sure that you’re putting the questions in a logical order, and not exhausting your customers by asking for too much detail.
Here are a few tips to help you design a better survey:
Start with the good stuff – To ease your customers into the survey, start off with some simple questions they can answer without a lot of thought.
This can be something as simple as basic demographic information (age, location, etc.), which also happens to be useful information.
But don’t load up the front end with all of the easy questions. Save a few for the end of the survey. That way, it won’t get increasingly difficult throughout, which can cause some people to bail before they complete it.
Avoid asking too many questions — 15 minutes is about the maximum length you can reasonably expect somebody to spend answering a survey, so be sure to limit your questions.
At the same time, be sure to let your respondents know up front how much time will be required to complete it… and be honest! People will begin to drop out if it starts to take longer than you say.
At the same time, be sure to let your respondents know up front how much time will be required to complete it… and be honest! People will begin to drop out if it starts to take longer than you say.
Give your survey an introduction and ending — It’s a good idea to include an introduction to the survey, to clearly explain what people are required to do.
At the same time, it’s a nice touch to end the survey with a "thank you" page, just to let people know you appreciate the time they spent taking the survey.
Respect people’s privacy – You may want to collect personal information like age, income, and occupation. If you do so, make sure to reassure your customers beforehand that you have a strict privacy policy, and remind them that their answers are all confidential.
When it comes time to write the actual questions, make sure you write in a relaxed, conversational voice, and avoid things like abbreviations, acronyms, and double negatives. You want to be sure that EVERY person who takes your survey clearly understands all of the questions.
Here are a few tips to help you write compelling and effective survey questions:
Avoid asking leading questions – Be sure that your questions don’t sway your customers towards answering them in a particular way, or giving an answer that’s not actually true.
Avoid asking leading questions – Be sure that your questions don’t sway your customers towards answering them in a particular way, or giving an answer that’s not actually true.
For example, don’t say: "How quickly did we resolve your problem? " This assumes that the problem was indeed resolved.
The question you should ask is, "Was your problem resolved?"
Avoid questions that rate more than one thing — Avoid asking questions that require people to rate more than one thing at a time.
For instance, don’t say: "How fast and accurate did you find our customer service representative?"
While the service may have been fast, it may not have been accurate (or vice versa) so this question is impossible to answer accurately.
Focus on asking "close-ended" questions — In a survey, a close-ended question is one that can be answered with a simple yes/no or other specific piece of information, or a selection from multiple choices.
This makes the survey faster and easier for your customers, and the results more simple for you to manage.
So instead of a question like "What did you think of your customer service experience?" try something like "Did you enjoy your customer service experience?"
Be consistent with your questions — If you ask your customers to rate certain things on a numbered scale, make sure to use the same scale each time.
So if they need to rate something on a scale of 1 to 5 in one question, avoid using a scale of 1 to 10 elsewhere.
Watch out for long questions — If your questions are too long, your customers will soon get tired of answering them, and abandon the survey. Look for questions that can be broken into two or more parts.
Don’t test your customers’ memories – Try not to ask your customers to recall a lot of information that happened far in the past. They’ll soon get bogged down trying to recall specific details, and if they’re in a hurry to complete the survey, will often abandon it.
Step #4: Test Your Survey
Step #4: Test Your Survey
You all know by now that I’m a HUGE advocate of testing EVERYTHING before you email it, make it live on your site, or expose it to your customers in any way.
So take the time to carefully review the survey, to make sure it has a logical flow, and that it all makes sense.
If you can, it’s a good idea to ask a few people (customers, if possible, or co-workers, friends, or family) to take the survey ahead of time, and actually WATCH them while they do it.
Do they hesitate while answering a question? Backtrack? Skip over a question? It could be a sign that your questions aren’t clear enough, and you’ll need to work on making them more simple.
Once you’re done, ask about the experience. Was there anything you didn’t understand? Were you confused at any point?
Once you’re done, ask about the experience. Was there anything you didn’t understand? Were you confused at any point?
You want to make sure the survey is easy to understand and follow BEFORE you make it available. Once it’s actually live — and your customers have started answering it — you DON’T want to have to start tinkering with the questions. That will skew your results.
Step #5: Administer The Survey
Step #5: Administer The Survey
Okay, the moment of truth is upon you: It’s time to invite your customers to take the survey.
The easiest way to do this is to email them, and ask them for a few minutes of their time. And make sure you tell them what’s in it for them if they take the survey.
The easiest way to do this is to email them, and ask them for a few minutes of their time. And make sure you tell them what’s in it for them if they take the survey.
If your goal is to improve a certain product, for instance, tell them that by taking the survey, they’ll actually be helping you to help them, because you’ll use their comments to fine-tune the assistance you can offer them.
And don’t be shy about offering your customers a "bribe" for taking the survey. You’re asking them to do a big favor for you, so it’s not unreasonable to reward them for their time.
Consider sending everyone who responds a gift (like a free ebook that they’ll find valuable), a coupon for discounted products, or enter them in a draw to win some a prize.
Consider sending everyone who responds a gift (like a free ebook that they’ll find valuable), a coupon for discounted products, or enter them in a draw to win some a prize.
Finally, make sure you build some urgency into the email. If you don’t ask people to take the time right away to answer the survey, they’ll often put it aside to answer when they have more time… but then never return to complete it.
Step #6: Interpret Your Results
Step #6: Interpret Your Results
As you review the results of your survey, remember that, more than anything, you’re looking for trends. Did the majority of respondents answer specific questions the same way? Are they often expressing the same frustrations, etc?
At the same time, look for any surprising answers. Your survey is likely going to tell you things about your audience that you had no idea were true.
By finding out EXACTLY who your audience is, what they like (and dislike), and what their goals and experiences are, you’ll be able to tailor your salescopy, your email marketing efforts, your website, and even your products, to perfectly suit them.
The results should be improved customer loyalty, and ongoing success with your business, even during these turbulent economic times!
Larry @ http://www.myspace.com/homebusinessnow
Wednesday, November 5, 2008
Why Should You Buy an REO?
Real Estate Owned properties (REOs) are a bit different than foreclosure properties. For REOs, banks buy the property at auction and sell the property via a Realtor on the MLS. REOs can be a great deal for quite a few reasons.
If you are looking to buy an REO, there are some distinct advantages such as: being able to buy on your schedule, inspecting the property before final purchase, and taking your time to obtain lender financing as with a "normal real estate transaction". In addition, the bank is not in the market to own property and would like to offload the property as soon as possible. Most times the bank or lender will list the property for sale at a much lower price to drive multiple bidders to the table and then reply to all bidders for the "highest and best" offer to drive up pricing. Being able to price the home correctly on the first bid is crucial to avoiding the bidding wars and obtaining a good price. The bank is losing money each month due to the mortgage, HOA fees, property taxes and the degradation of the landscaping of the home. In the real estate market of 2008, the pricing of homes has decreased greatly over the year, so the bank would like to remove their REO properties from their books.
Commonly banks like to sell an REO property for around 30% of its value. To get a good value, drafting comparables for the neighborhood are quite important in submitting a good deal for yourself that won't get ignored.
The best thing about REOs is that you're buying a home that can be seen, you can walk through the home and have an inspection. You can make an offer which includes the cost of fixing up the property.
There are REO homes that should not be purchased. Is the property too badly damaged? How much will it cost to fix it up and sell it? Is the property in a desirable part of town? Is the location good? How many other foreclosure lots are in that neighborhood? You need to evaluate these questions and determine what is the true value of the REO home you are interested in.
Generally, REOs can be a great investment as long as the buyer knows what they are getting into.
Susan Suarez is the creator of websites geared towards informing consumers of Real Estate Foreclosures and Short Sales.
Article Source: http://EzineArticles.com/?expert=Susan_Suarez
If you are looking to buy an REO, there are some distinct advantages such as: being able to buy on your schedule, inspecting the property before final purchase, and taking your time to obtain lender financing as with a "normal real estate transaction". In addition, the bank is not in the market to own property and would like to offload the property as soon as possible. Most times the bank or lender will list the property for sale at a much lower price to drive multiple bidders to the table and then reply to all bidders for the "highest and best" offer to drive up pricing. Being able to price the home correctly on the first bid is crucial to avoiding the bidding wars and obtaining a good price. The bank is losing money each month due to the mortgage, HOA fees, property taxes and the degradation of the landscaping of the home. In the real estate market of 2008, the pricing of homes has decreased greatly over the year, so the bank would like to remove their REO properties from their books.
Commonly banks like to sell an REO property for around 30% of its value. To get a good value, drafting comparables for the neighborhood are quite important in submitting a good deal for yourself that won't get ignored.
The best thing about REOs is that you're buying a home that can be seen, you can walk through the home and have an inspection. You can make an offer which includes the cost of fixing up the property.
There are REO homes that should not be purchased. Is the property too badly damaged? How much will it cost to fix it up and sell it? Is the property in a desirable part of town? Is the location good? How many other foreclosure lots are in that neighborhood? You need to evaluate these questions and determine what is the true value of the REO home you are interested in.
Generally, REOs can be a great investment as long as the buyer knows what they are getting into.
Susan Suarez is the creator of websites geared towards informing consumers of Real Estate Foreclosures and Short Sales.
Article Source: http://EzineArticles.com/?expert=Susan_Suarez
Monday, November 3, 2008
Home Value Boosting Tip of the Month
Spend a little time and money on that bathroom.
Kitchens and bathrooms are two very important spaces for any buyer, and they’re the two easiest spots to spend a little time and money and see huge improvements.
Take a look at your bathroom. Is your toilet getting old and grungy? Is your medicine cabinet tacky and outdated?If your toilet isn’t so appealing anymore, replace it! You can replace your toilet for a few hundred dollars, but the difference between an old grimy toilet and a new shiny toilet to a potential homeowner is huge.
The same thing goes for your shower tiles. Is the grout getting all grimy and stained? Does it look like a breeding ground for bacteria? If cleaning doesn’t make much headway, spend a few hundred dollars replacing those worn-out tiles and grout.
How’s the medicine cabinet looking? If you’ve got a small, cramped old medicine cabinet - or even one with an outdated light fixture – replace it! This is another fix that won’t cost you more than a few hundred dollars (or even less if you’re not replacing a light fixture) but it’ll make a big difference to potential buyers.
Finally, if you’ve got unused space in your bathroom, consider adding additional storage. Got a wide-open corner you’re not using? Add a corner cabinet to store toilet tissue or bath linens. Not using the space over the toilet? Add a nice cabinet to store toiletries.
Bathrooms are a great place where a few hundred dollars can go a long way to making the right impression, so don’t be afraid to spend it and spruce your bathroom up.
Kitchens and bathrooms are two very important spaces for any buyer, and they’re the two easiest spots to spend a little time and money and see huge improvements.
Take a look at your bathroom. Is your toilet getting old and grungy? Is your medicine cabinet tacky and outdated?If your toilet isn’t so appealing anymore, replace it! You can replace your toilet for a few hundred dollars, but the difference between an old grimy toilet and a new shiny toilet to a potential homeowner is huge.
The same thing goes for your shower tiles. Is the grout getting all grimy and stained? Does it look like a breeding ground for bacteria? If cleaning doesn’t make much headway, spend a few hundred dollars replacing those worn-out tiles and grout.
How’s the medicine cabinet looking? If you’ve got a small, cramped old medicine cabinet - or even one with an outdated light fixture – replace it! This is another fix that won’t cost you more than a few hundred dollars (or even less if you’re not replacing a light fixture) but it’ll make a big difference to potential buyers.
Finally, if you’ve got unused space in your bathroom, consider adding additional storage. Got a wide-open corner you’re not using? Add a corner cabinet to store toilet tissue or bath linens. Not using the space over the toilet? Add a nice cabinet to store toiletries.
Bathrooms are a great place where a few hundred dollars can go a long way to making the right impression, so don’t be afraid to spend it and spruce your bathroom up.
Friday, October 31, 2008
4 Sources of Mortgages
Some investors may believe the headlines and assume that nobody's lending money anymore -- and certainly not for small residential rental projects.
But the reality is a little better than that. If you can come up with a downpayment, and are prepared to document income, assets and a solid appraised value, there are still some willing and able funding channels open to you.
They're basically in 4 categories:
Portfolio lenders such as regional or smaller banks and savings institutions who continue to offer carefully-underwritten, specialized niche products for small investors.
Second, Fannie Mae and Freddie Mac, who continue to fund single and multifamily loans, although with lots more restrictions than before.
Third, if either of these two don't work for you -- you can explore the so-called "hard money" lending route, which will almost certainly cost you a lot more.
And finally, there is the Home Seller Assist program which provides good fixed interest rates with debt-to-income ratios up to 50%.
And, they have just introduced special financing for short sales, no credit needed.
This is available in all 50 states.
You line up a prequalified buyer to purchase from you and our Investor can provide you with the Proof of Funds and the Cash to buy the short sale from the Bank. Cost of Funds is 1% plus $300 flat fee, all paid from your profits at closing.
Example:
You buy a home worth $200,000 in a short sale for $100,000 and resale for $150,000.
You keep $50,000 minus 1% +$300 flat fee
More info and a live webcast at:
... http://www.FundsForShortSales.com
But the reality is a little better than that. If you can come up with a downpayment, and are prepared to document income, assets and a solid appraised value, there are still some willing and able funding channels open to you.
They're basically in 4 categories:
Portfolio lenders such as regional or smaller banks and savings institutions who continue to offer carefully-underwritten, specialized niche products for small investors.
Second, Fannie Mae and Freddie Mac, who continue to fund single and multifamily loans, although with lots more restrictions than before.
Third, if either of these two don't work for you -- you can explore the so-called "hard money" lending route, which will almost certainly cost you a lot more.
And finally, there is the Home Seller Assist program which provides good fixed interest rates with debt-to-income ratios up to 50%.
And, they have just introduced special financing for short sales, no credit needed.
This is available in all 50 states.
You line up a prequalified buyer to purchase from you and our Investor can provide you with the Proof of Funds and the Cash to buy the short sale from the Bank. Cost of Funds is 1% plus $300 flat fee, all paid from your profits at closing.
Example:
You buy a home worth $200,000 in a short sale for $100,000 and resale for $150,000.
You keep $50,000 minus 1% +$300 flat fee
More info and a live webcast at:
... http://www.FundsForShortSales.com
Tuesday, October 28, 2008
Listings of foreclosures
Free listings of foreclosures in all 50 states, including
government foreclosures and bank owned properties.
government foreclosures and bank owned properties.
Investing in Bank Foreclosed Homes
Bank Foreclosed Homes are default loan cases where the borrower is unable to pay the monthly liabilities and the banks has no option than to foreclose the loan and sell the property in public auction for recovering the outstanding debt.
However, Bank Foreclosed Homes are the best investment opportunity for any first time buyer as he can avail discounted properties and save money. The motive behind the auction sale in Bank Foreclosed Homes is the recovery of debt from the NPA. This is done by selling the property at the outstanding loan amount. In most cases the loan amount is much less than the prevalent market property price and this makes the property attractive for buyers who wish to save money.
Still, foreclosure is the most difficult part for any borrower as he has to leave his house and search for another shelter. The borrower in Bank Foreclosed Homes is devastated and he is deemed unfit by credit agencies which disallows him to obtain credit from any institution in the future.
Searching for Bank Foreclosed Homes
Most housing websites feature listings of Bank Foreclosed Homes which can be searched on the basis of state and counties. The price is also mentioned on the site which helps the buyer to take a clear decision.
The buyers can search for Bank Foreclosed Homes in various newspapers, websites and with he banks where they can register themselves with the bank officials for contacting when a sale or any foreclosed property comes up. This shall give the buyer an option to check all the properties in an area under Bank Foreclosed Homes.
Procedure for auctions of Bank Foreclosed Homes
The procedure for auction in Bank Foreclosed Homes is similar to a normal auction. The bidder bid for the property and the highest one is declared the winner. He has to pay 10% of the purchase price to the bank immediately on the auction place. The remaining amount shall be paid either by him or could be taken as loan from a bank.
Pros and Cons while acquiring Bank Foreclosed Homes
Bank Foreclosed Homes is undoubtedly the best option for purchase in the property market but requires some research which the buyer has to do on his own. The buyer should check for the exact price of the property in the market to check for discount. The buyer should inspect the property for any cosmetic damages which could mould the buying motive.
The buyer should also check for any outstanding liens on the property which will have to be paid by the buyer. Once the buyer is confident of these things he should move forward for purchasing the property. The Buyers should always appoint a legal representative who should be a certified professional, well equipped with the legal documentation process that can help in closing the purchase. The buyer should reach the auction site early to register for bidding as well as he should also keep 10% of the amount available to be paid on winning. So keep in mind, all the above guidelines while purchasing a Bank Foreclosed Homes.
So, the next time you want to buy a property, do not forget to check for Bank Foreclosed Homes and save money.
Search foreclosed homes by state or get more information on foreclosed homes at ForeclosureWarehouse.com.
Article Source: http://EzineArticles.com/?expert=Kevin_Simpson
However, Bank Foreclosed Homes are the best investment opportunity for any first time buyer as he can avail discounted properties and save money. The motive behind the auction sale in Bank Foreclosed Homes is the recovery of debt from the NPA. This is done by selling the property at the outstanding loan amount. In most cases the loan amount is much less than the prevalent market property price and this makes the property attractive for buyers who wish to save money.
Still, foreclosure is the most difficult part for any borrower as he has to leave his house and search for another shelter. The borrower in Bank Foreclosed Homes is devastated and he is deemed unfit by credit agencies which disallows him to obtain credit from any institution in the future.
Searching for Bank Foreclosed Homes
Most housing websites feature listings of Bank Foreclosed Homes which can be searched on the basis of state and counties. The price is also mentioned on the site which helps the buyer to take a clear decision.
The buyers can search for Bank Foreclosed Homes in various newspapers, websites and with he banks where they can register themselves with the bank officials for contacting when a sale or any foreclosed property comes up. This shall give the buyer an option to check all the properties in an area under Bank Foreclosed Homes.
Procedure for auctions of Bank Foreclosed Homes
The procedure for auction in Bank Foreclosed Homes is similar to a normal auction. The bidder bid for the property and the highest one is declared the winner. He has to pay 10% of the purchase price to the bank immediately on the auction place. The remaining amount shall be paid either by him or could be taken as loan from a bank.
Pros and Cons while acquiring Bank Foreclosed Homes
Bank Foreclosed Homes is undoubtedly the best option for purchase in the property market but requires some research which the buyer has to do on his own. The buyer should check for the exact price of the property in the market to check for discount. The buyer should inspect the property for any cosmetic damages which could mould the buying motive.
The buyer should also check for any outstanding liens on the property which will have to be paid by the buyer. Once the buyer is confident of these things he should move forward for purchasing the property. The Buyers should always appoint a legal representative who should be a certified professional, well equipped with the legal documentation process that can help in closing the purchase. The buyer should reach the auction site early to register for bidding as well as he should also keep 10% of the amount available to be paid on winning. So keep in mind, all the above guidelines while purchasing a Bank Foreclosed Homes.
So, the next time you want to buy a property, do not forget to check for Bank Foreclosed Homes and save money.
Search foreclosed homes by state or get more information on foreclosed homes at ForeclosureWarehouse.com.
Article Source: http://EzineArticles.com/?expert=Kevin_Simpson
Saturday, October 25, 2008
The future of short sales
A few banks are trying to “make short sales easier”.
When I say make short sales easier, I mean they are trying to lessen their short sale work load.
What a few banks have done is put short sale updates online.
You litterally go to their website, click short sale update, answer a few security questions and your in! But the updates on the website are weeks old.
The short sale information has to be noted a certain way and isn’t updated regularly. I guess this does allow hope for the future of short sales and
funds for short sales.
When I say make short sales easier, I mean they are trying to lessen their short sale work load.
What a few banks have done is put short sale updates online.
You litterally go to their website, click short sale update, answer a few security questions and your in! But the updates on the website are weeks old.
The short sale information has to be noted a certain way and isn’t updated regularly. I guess this does allow hope for the future of short sales and
funds for short sales.
Thursday, October 23, 2008
Foreclosures up 71%
The number of homeowners ensnared in the foreclosure crisis grew
by more than 70 percent in the third quarter of this year compared
with the same period in 2007, according to data released today.
Nationwide, nearly 766,000 homes received at least one foreclosure
related notice from July through September, up 71 percent from a
year earlier.
By the end of the year, they expect more than a million bank-owned
properties to have piled up on the market, representing around a
third of all properties for sale in the U.S.
That's bad news for anyone who lives nearby and wants to sell their
home. While foreclosure sales are booming in many areas, those
properties are commanding deep discounts and pulling down neighboring
property values. It has a pretty significant impact in terms of pricing.
More than 250,000 properties were repossessed by lenders nationwide
in the third quarter, 81,000 of which were taken back last month.
That's why the new funding program for buying short sales (without
use of the buyer's credit) is exploding the business over at
www.FundsForShortSales.com and is bringing me in over $8000 per
month by just sending people to one website. And for my readers
who are working this business, we have our conference call this
evening at 8pm-Central. We'll be sharing more tips on how to
make this business even more profitable for you and hopefully
surpass my earnings. Remember, I am only 4 months into this and
it is only getting better.
Wednesday, October 22, 2008
Now Is The Time To Buy Short Sales. Why?
I believe short sales will be going strong for the next six
months until this program can kick in. Picking them up for
50 cents on the dollar should be no problem.
Once the program kicks in (if it does), then I think we will
be looking at 60-70 cents on the dollar.
I had one guy approach me this evening wanting to use
our 1% funds (plus a $350 fee) on what he said was a
short sale. He could buy for $350k and sell for $360K!
To me that was not a short sale! I told him to keep looking.
Our typical deals working with this special funder go something
like this:
You line up a prequalified buyer to purchase from you and this
funder provides you with the Proof of Funds and the Cash to buy
the short sale from the Bank.
Cost of Funds is 1% plus $300 flat fee, all paid from your
profits at your end buyer's closing.
Example:
You buy a home worth $200,000 in a short sale for $100,000 and
resale for $150,000.
You keep $50,000 minus 1% (1,000+$300 flat fee).
Your profit is $48,700, not bad considering they don't even
look at your credit!
I think he got the message and is looking for a real deal.
Larry Potter
847-872-4047
http://www.FundsForShortSales.com
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