Which Lenders are the Fastest for Short Sales?
Sunday, April 29th, 2012 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing, Short Sales | No Comments
RealtyTrac recently put together a list outlining which lenders/servicers move through the short sale process the fastest and the cheapest. The frontrunners? Freddie Mac, Fannie Mae and FHA have the shortest timelines with 193 days, followed by Ally Financial at 321 days and PNC Financial at 353 days.
The short sale timeline being used as a measure starts as soon as the property begins the foreclosure process to the date it is sold as a pre-foreclosure. The new guidelines instituted by the GSEs, which call for a decision within 30 days, will surely change the game. BOA followed quickly by implementing a 20-day short sale decision timeline. As far as pricing goes, the GSEs again lead the way, selling homes for the least amount, averaging just over $128,000.
Read the complete article here.
Short Sale Timeline Requirements Set By GSEs
Sunday, April 22nd, 2012 | Bank owned, Foreclosures, Real Estate Investing | No Comments
This is big news for real estate investors, specifically anyone who does short sales. As of June 15, real estate agents working on short sale offers with loans backed by Freddie Mac or Fannie Mae should expect to receive a decision on the short sale within 15-30 days. This is part of the overall process to incorporate more transparency in the short sale process and speed things up.
If more than 30 days will be necessary, the servicers must provide weekly status updates, and reach a decision within 60 days from the offer. In turn, the borrower has some timelines to contend with, too. If the servicer provides a counteroffer, they will need to respond within five days.
Read the complete article here.
{RESULTS} That is all you should care about!
Wednesday, April 18th, 2012 | Real Estate Investing | No Comments
Later today at 2pm eastern and again at 9pm eastern I’ll be interviewing my mentor student, friend and “The King of Systems”, John Cochran about his Buyers On Fire Software.
On the call we will show you IN REAL TIME how I’ve built a list of 593 buyers in less than a week and how we are putting ourselves in the middle of dozens of transactions so you can do it too.
Register here for the 2pm eastern / 11am pacific interview.
https://www2.gotomeeting.com/
Register here for the 9pm eastern / 6pm pacific interview.
https://www2.gotomeeting.com/
On the interview / webinar we are going to take you into the back office of my company and we are going to teach you:
*How EXACTLY I am driving in over 80 new BUYER leads a day so you can do it too.
*How EXACTLY we are communicating with the buyers list on autopilot so you can do it too.
*How EXACTLY I am advertising in Craigslist, Backpage, Twitter and Facebook to get the traffic so you can do it to.
*How EXACTLY to FIND THE SELLERS to connect with these buyers.
This has rapidly become my #1 focus because it’s easy, simple and risk free. And you can get started with no money, no experience, no license and even do it part time with another J.O.B.
So clear your schedule today and register NOW
Register here for the 2pm eastern / 11am pacific interview.
https://www2.gotomeeting.com/
Register here for the 9pm eastern / 6pm pacific interview.
https://www2.gotomeeting.com/
Here’s just a few of the emails I have gotten over the past week about Buyers On fire.
Everyone who bought it is getting massive results.
“I started posting ads this morning and I already have 30 leads coming in.” ~ Michael Baron
“With only an ad in Craigslist (posted twice) and Backpage (auto-repost) I have 14 new leads and 12 hot leads. One person is emailing me about getting the listings already.” – Jin
“Thank you so much for turning me onto this program. I have set up the program and have posted on craigslist 3 times each day for 2.5 days and received 50 new buyer leads and received several direct phone calls.” = Jim Keith
“I didn’t believe Josh when he said he was getting 85 leads a day. BUT I set up my own account and received 39 leads in the first 20 hours.” – Dave Schneider
The Proof is in the RESULTS :
Josh
P.S. Don’t miss this opportunity to get from where you are now to where you want to be in the shortest amount of time possible. Buyers On Fire is the software to get you there.
This is the one opportunity you will kick yourself for if you miss out.
Register here for the 2pm eastern / 11am pacific interview.
https://www2.gotomeeting.com/
Register here for the 9pm eastern / 6pm pacific interview.
https://www2.gotomeeting.com/
Short Sales Making a Comeback With Investors
Sunday, April 1st, 2012 | Bank owned, Foreclosures, Real Estate Investing, Real estate short sales, Short Sales | No Comments
This is good news for real estate investors, but honestly, something we at SREC never stopped doing, even when things got really tough. Short sales are once again are becoming popular with investors. According to a recent survey by HousingPulse, the percentage of investors pursuing short sales rose by nearly 3.5% in a six-month period.
During the same time frame, investor share of all short sales rose by nearly 5%. By contrast, the percentage of homeowners pursuing short sales fell. This can be attributed to the long approval times from mortgage servicers and the unknown closing dates. The average homeowner does not have the resources to wait it out like an informed, experienced investor can. To date, nearly 50% of all the homes on the market are distressed properties, which represents an amazing opportunity for investors.
To read more, click here.
Short Sales to Rise Again
Sunday, April 1st, 2012 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing | No Comments
This is a sort of continuation of the article I shared with you last week indicating good news about short sales for real estate investors. The government has reached a $25 billion settlement with the five biggest mortgagers over robo-signing practices. This move is expected to increase the amount of completed short sales.
With this new settlement, “loan servicers will receive credit when they approve sales that include forgiveness of a portion of underwater homeowners’ debt.” While not a huge portion of homeowners will be helped directly, it does remove some of the daunting barriers that have kept homes in the foreclosure pipeline for long periods of time. Of the total $25 billion, $5 billion will go to paying fines, $17 billion is ear-marked for homeowner relief and $3 billion will help underwater borrowers refinance.
To read the complete article, click here.
Current Shadow Inventory = Half of Visible Inventory
Sunday, March 25th, 2012 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing | No Comments
Last week, CoreLogic reported that the number of homes currently in the shadow inventory is roughly half the number of those currently in the visible inventory. On top of that, about half the shadow inventory has not made it into the foreclosure cycle yet. Altogether, the total shadow inventory includes 400,000 REOs, 410,000 already in foreclosure and 800,000 seriously delinquent mortgages.
Together, this means that the rate of distressed sales, which includes REOs and short sales, is equal to the rate at which homeowners are falling into some state of delinquency. Distressed sales are keeping the shadow inventory under control, with roughly 3 million completed since January 2009. CoreLogic estimates that the 1.6 million properties in the shadow inventory represents a 6-month supply. One-third of the total shadow inventory is located in California, Florida and Illinois. In addition, loans of $100,000-$125,000 represent the biggest portion of the total.
Read the complete article here.
Proposed Bill Would Prevent Foreclosures with Faster Short Sales
Sunday, March 18th, 2012 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing, Short Sales | No Comments
This is good news for real estate investors. Last month, three Senators (Murkowski, Scott Brown and Sherrod Brown) together proposed a bill called the “Prompt Notification of Short Sale Act,” which, in essence, is designed to speed up the short sale process.
It would require “a written response from a lender no later than 75 days after receipt of the written request from the buyer,” In turn, the response must include one of the following decisions: acceptance or rejection of the offer, a counter-offer, need for extension (only one permitted) with estimation of when a decision would be available. If this process were violated, the buyer would be entitled to $1000 plus reasonable attorney fees.
This bill could be just the thing to help improve the short sale process, which is notoriously long – generally 6-9 months.
To read more, click here.
ACCELERATED INVESTOR: “9 Short Sale Exit Strategies” Webinar Training ON DEMAND!
Sunday, March 11th, 2012 | Foreclosures, Real Estate Investing, Real estate short sales, Short Sales | No Comments
www.surveymonkey.com/s/acceleratedinvestor
Another Chance (Brand New Presentation Invite)
Friday, March 9th, 2012 | Real Estate Investing, Real estate short sales, Short Sales | No Comments
Yesterday, I sent out an email invite to the encore replay I am doing THIS Saturday with my good friend Derek Walkush where we’ll show you how to profit 9 different ways from short sale properties.
Register now for the “Accelerated Investor: 9 Short Sale Exit Strategies”training Saturday at:
The class is exactly 60 minutes so you’ll earn a bunch of great new ideas then you can have fun with your family and friends knowing you made a significant improvement in your investing game plan.
Here’s a copy of the mind map we cover on the call :
Josh
P.S. Investors were raving about this training. Check out comments below in the email I sent you yesterday.
—————–
Hey it looks like you MISSED the “Accelerated Investor” webinar yesterday. That’s too bad because you missed a great training call, but don’t just listen to me.
Here’s what others said about my latest “A.I.” training class.
****************************
“Having listened to a number of RE Gurus, none have outlined the numerous exit strategies and income streams as you did. Your presentation spoke volumes about your knowledge and creative investment style and I would therefore like to work with you to learn from the best.”
“Your marketing and profit techniques are genius.”
“No b.s. in your presentation.”
“I believe it maybe more of a ground breaking opportunity with you. More one on one than other models.”
“The PROGRAMS YOU PROMOTE ARE PROGRAMS THAT YOU CURRENTLY UTILIZE IN YOUR BUSINESS, and not methods used 5 years ago. Your programs are extremely thorough and are especially easy to implement for people who may have little or no experience in that particular subject.”
“Your approach is very comprehensive (investors/ realtors; short sale, whole sale, owner finance, and arbitrage), and with this approach a person can continue to flourish as the market changes.”
“I see you have knowledge and most importantly you’re doing it now.”
“You seem to be getting the work done, and have adapted to the changes in today’s market.”
***************************
So even though you missed the class yesterday I’m going to give you another chance because I feel it’s important to your success to know these 9 Short Sale Strategies and implement it to grow your income.
So here’s the link to the Encore Replay Training “Accelerated Investor: 9 Short Sale Exit Strategies” which starts……
SATURDAY March 10th. Click the time below to register now.
It is the best 60 minutes you can spend investing in yourself and your financial future.
Do what you love,
Josh
9 Ways To Cash In On Short Sales (starts today, last opp)
Wednesday, March 7th, 2012 | Commercial Real Estate Investing, Real Estate Investing, Real estate short sales, Short Sales | No Comments
Later today, Derek and I will be showing you 9 ways to cash in on short sales step by step whether you are an investor, OR a licensed real estate agent or BOTH.
If you miss this you’ll be leaving a boatload of money on the table. Enough to pay your car, mortgage, rent, food, utilities and credit cards every month with a bunch left over. Enough to make a substantial impact on your financial life. Do you really want to leave that on the table?
Set time aside now and register for the “Accelerated Investor” training webinar TODAY below.
Don’t just register. Make sure you show up. I have a spot saved for you.
Josh
P.S. A few weeks ago I taught my “Life Lessons Learned from Battling Cancer”. #8 was “Prepare Like Hell”. How’s that going for you? Are you prepared?….
Just enter your first name and email in the
box below for free immediate access!
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