“Buy and Bail” Homeowners Get Around Loan Restrictions

Tag: mortgages

“Buy and Bail” Homeowners Get Around Loan Restrictions

“Buy and Bail” Homeowners Get Around Loan Restrictions

Wow, we still have a long way to go before this whole housing crisis is striaghtened out. Homeowners are getting desparate, and getting more creative in how they deal with their underwater homes… Even after Freddie Mac and Fannie Mae increased their standards against mortgage fraud, a practice known as “buy and bail” is taking…  Continue Reading

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Creating a Credibility Kit

Creating a Credibility Kit

Using a credibility kit is one way that we have found effective to give your prospective seller the confidence that your company is the right one to help them. You should try to have this in your prospect’s hands to sell your company and you, before the first appointment. Be sure to get the prospect’s…  Continue Reading

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Mortgage Brokers Get Criminal Check, Tests

Mortgage Brokers Get Criminal Check, Tests

By Jan. 1, 2011, mortgage brokers in all 50 states will be required to pass criminal background and credit checks, and a licensing exam. The move is an attempt to curb the fraud and abuse that triggered rampant lending to people who couldn’t afford to pay their loans, or never intended to in the first…  Continue Reading

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The Worrying Numbers Behind Underwater Homeowners

The Worrying Numbers Behind Underwater Homeowners

Never before have American homeowners with mortgages held such a thin slice of equity, and never before have so many homeowners been at risk of negative equity. Predicting accurately how many homeowners end up underwater is impossible, as the future of home prices is unknown. But anyone claiming that the number of underwater homes can’t…  Continue Reading

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Gov’t OKs $600M in Housing Aid for 5 States

Gov’t OKs $600M in Housing Aid for 5 States

Today The Treasury Department approved mortgage-assistance proposals submitted by five states – North Carolina, South Carolina, Ohio, Oregon and Rhode Island. The $600 million in aid will help an estimated 50,000 homeowners avoid foreclosure. This comes on the heels of aid already sent to Arizona, Florida, California, Michigan and Nevada in June. In total, the…  Continue Reading

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Why Hasn’t the Housing Market Recovered?

Why Hasn’t the Housing Market Recovered?

Weekly Real Estate Kick-Off for August 2, 2010 Follow me on Facebook and on Twitter! August 2, 2010 – This Week’s Topics: Reasons Why The Housing Market Hasn’t Recovered Sidelined Sellers Impacting the Housing Recovery Treasury to Hold Conference on Fannie, Freddie Future Foreclosures Rising in Most Metro Areas Declaring Bankruptcy to Prevent Foreclosure Fannie’s…  Continue Reading

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Weekly Real Estate Kick-Off

Weekly Real Estate Kick-Off

Follow me on Facebook and on Twitter! Hey everyone, are you capitalizing on your “power time” each day? Everyone’s power time may be different, but it’s basically the block of time where you’re at your most productive, your most alert. Make sure that you’re taking advantage of that burst and doing the things that need…  Continue Reading

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Article Syndication Increases Your Website’s Effectiveness 38%

Article Syndication Increases Your Website’s Effectiveness 38%

I was thinking of you this morning. I thought you could use some ideas on Web site optimization and driving leads to your Web sites online. One way that you probably haven’t thought about is ARTICLE SUBMISSION. Maybe you thought it wasn’t effective. Maybe you don’t have time. Maybe you don’t have Web sites. Shame…  Continue Reading

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Watchdog: Commercial Real Estate Mortgages Sinking Quickly

Watchdog: Commercial Real Estate Mortgages Sinking Quickly

By the end of 2010, half of all commercial real estate mortgages in the United States could be “underwater,” according to the government’s Troubled Asset Relief Program watchdog. Translation: Americans’ financial woes are far from over. The commercial real estate bubble will grow so large that it will become a “serious problem” that will take…  Continue Reading

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Another Real Estate Crisis Is About To Hit

By Paul Craig Roberts For a picture of the US real estate crisis, imagine New Orleans wrecked by Hurricane Katrina, and before the waters even begin to recede, a second Katrina hits. The 1,120,000 lost US retail jobs in 2008 are a signal that the second stage of the real estate bust is about to…  Continue Reading

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Unprecedented Crash: Commerical Real Estate.

Will commercial real estate be the next shoe to drop in the ongoing U.S. financial crisis?  While most eyes are on the continuing residential real estate disaster, the reality is that the state of the commercial real estate market in America could soon be even worse.  Very few financial pundits are talking about this looming…  Continue Reading

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Here Comes the BIG One!

You think home mortgages are the end of the real estate problem!  Think again.  Because, here comes The Big One: commercial mortgages. Your average big kitchen, 3 1/2 baths, 4 bedrooms, and an entertainment room with a big screen on the wall HOME pales next to a gigantic mall, an industrial/office park, skyscraper commercial building.  Commercial…  Continue Reading

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Commercial Short Sales: The Next Foreclosure Wave

Commercial Short Sales: The Next Foreclosure Wave

I’d been warning you about the next two foreclosures meltdowns. #1 – The resetting of all Option ARMS on residential properties. #2 – The commercial property meltdown. And honestly, this really scares me. Here’s why… You know the housing crisis is bad. The commercial foreclosure crisis is going to be MUCH WORSE.

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The Most Important Chart for the Next 5 Years.

This is a Credit Suisse Chart of all of the mortgage resets starting with the Sub Prime mess in 2007. There are an estimated 19 million homes that are empty in the United States. An estimated 2/3 of all the homes foreclosed are not even on the market yet.The crazy thing is we have not…  Continue Reading

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Weekly Kick-Off

** Have you registered for the SREC Foreclosure Academy yet? Join us May 14-16 in Dallas, TX to learn how you can “Conquer the Crash” and take advantage of the massive opportunity for real estate investors. For details and to register, visit www.srecforeclosureacademy.com. ** Stay tuned for an exciting announcement coming TOMORROW about a traffic…  Continue Reading

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Housing Stall Threatens Economy

Stall in housing market threatens economy Fed ending program that has held mortgage rates down may also hurt From: MSNBC.com – By Alan Zibel WASHINGTON – The recovery in the housing market is at risk of collapsing.  Home sales are sliding, prices are stalling and foreclosures are rising. And mortgage rates are likely to go…  Continue Reading

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BOA to Reduce Principal on Underwater Mortgages

BOA to Reduce Principal on Underwater Mortgages

Bank of America to Start Reducing Principal on “Underwater” Mortgages By Ieva M. Augstumms, The Huffington Post CHARLOTTE, N.C. — Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. The bank, the largest mortgage servicer in the country, said Wednesday it will forgive up to…  Continue Reading

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Selling a House in 2010? Have a Strategy

Selling a House in 2010? Have a Strategy

Selling Home In 2010 Requires A Strategic Plan Of Action STILL A BUYERS MARKET February 28, 2010|By KATE FORGACH Home sales, value and mortgage applications have risen slightly as mortgage rates stand at a historic low. This glimmer of positive news is offset by estimates that about 48 percent of all U.S. mortgages will be…  Continue Reading

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After 40 Years, Poof! The Middle Class is Disappearing

From My Budget 360: Some like to think that the middle class has always been a fixture of American society.  In fact, the rise of a steady and strong middle class didn’t happen until after World War II.  Clearly people can’t look at the economically painful Great Depression, which rampaged the nation from 1929 to…  Continue Reading

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FHA Head: Don’t Raise Down Payments

FHA Head: Don’t Raise Down Payments

From Daily Real Estate News, March 12, 2010 Now is not the time to raise the downpayment requirement on a Federal Housing Administration loan, warns FHA Commissioner David Stevens. Stevens, testifying before a committee of the U.S. House, said his agency would probably insure 300,000 fewer home loans per year if the mandatory down payment…  Continue Reading

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Weekly Kick-Off!

March 15, 2010 – This Week’s Topics: • Freddie and Fannie Bounce Mortgages Back to Banks • Unfinished Construction Offers Investors Another Opportunity to Profit • Builders Look to Prosper from Hidden Transfer Fees • Pittsburgh, Louisville Top List of Best Housing Markets • The American Culture of Homeownership • 30-Year Fixed Mortgage Rates Fall…  Continue Reading

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The long and short of short-selling homes

By Sean Sposito/The Star-Ledger February 17, 2010, 6:00AM ED MURRAY/THE STAR-LEDGER Goldie Sommer, a real estate attorney who has overseen more than 250 short-sale deals in the past two years, does research at her office in Fairfield. Record high unemployment has put some borrowers in jeopardy of losing their homes. They are considering refinancing, home…  Continue Reading

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1/4 of All Mortgages are Upside Down

1/4 of All Mortgages are Upside Down

Feb. 23, 2010, 6:21 p.m. EST 11.3 million homeowners underwater on mortgage WASHINGTON (MarketWatch) — More than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan than their home is now worth, according to a report released Tuesday by FirstAmerican CoreLogic. More than 10% of people…  Continue Reading

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Modern Day Ghost Towns

Jason Lankow on 2/12/2009 It may have seemed inevitable given the mortgage meltdown, but it is still shocking when you drive through a neighborhood that seems to be entirely filled with ‘For Sale’ signs. The cities here aren’t entirely deserted, of course, but they are examples of the cities that have been hit hard enough…  Continue Reading

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I Have Seen the Promised Land…

I Have Seen the Promised Land…

Can it be true? Is the 91 day FHA seasoning rule no longer in force? Are short sale investors about to enter the “Promised Land” and be able to sell their flips to FHA buyers? The federal government is so desperate to stabilize the housing market that FHA restrictions are being relaxed. It is good…  Continue Reading

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Home sellers frustrated as short-sale deals collapse

Home sellers frustrated as short-sale deals collapse

8/5/2009 2:17 PM By Stephanie Armour, USA TODAY http://m.usatoday.com/home/614019/full/;jsessionid=FF66A4C5571B70CBBCE6F823B6D8FCD9.wap1 Home sellers frustrated as short-sale deals collapse Scores of homeowners who thought they’d cut a deal with their banks to sell their houses for less than their unpaid mortgages are seeing those agreements fall apart months later, contributing to the mounting foreclosures that threaten the housing…  Continue Reading

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Sell, Sell, Sell! (Show Your Real Estate Credibility)

Sell, Sell, Sell! (Show Your Real Estate Credibility)

You want to always have more than enough proof of your credibility because credibility is a huge factor in booking appointments with good leads and achieving successful closings. So, put together a sort of easy-access kit, if you will, to show prospects your proof of credibility. Make the kit organized so your client can clearly…  Continue Reading

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2nd Mortgages: Pesky or Painless

2nd Mortgages: Pesky or Painless

By: Josh Cantwell Why is it that negotiating with mortgage companies can cause us to want to pull our hair out, yet when we find a deal that has 2 mortgages, we are ecstatic? Weird, right? On the surface, it seems insane that we would be excited to have to negotiate with 2 mortgage companies…  Continue Reading

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Fannie, Freddie, and Indy

Fannie, Freddie, and Indy

By: Josh Cantwell Hey guys, you’ve got to check out the latest article that I wrote regarding Fannie Mae, Freddie Mac, and Indy Mac. There’s some crazy stuff going on that we all need to be aware of. Here’s a sneak peek, but click the link at the bottom to read the entire article in…  Continue Reading

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