toledoblade.com -- McCain vows to fix job, foreclosure woes while ::
Especially in challenging economic times, [we need] to save more of your money for you to Although he did not offer a timetable on the war, the senator,
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20080226/NEWS09/802260352HOME |
The neighborhoods hit the hardest by foreclosures were not always a haven for criminals and despair, but with hundreds of foreclosures, it can destabilize any community.
Some neighborhoods around the country have upwards of 800 houses going through foreclosure. Essentially entire streets are being abandoned. And of course crime increases as vacant properties offered shelter to questionable elements.
Standing alone, in many cases, is the help offered by the pre-foreclosure investor. Offering tough-minded negotiation of terms to the lenders has been the role of the investor. Armed with the latest mortgage regulation information and neighborhood comparables, they will work with the distressed homeowner.
earnmorebread.com ยป Real Estate::
Or, if the housing market is particularly hot in your area, you may be able to Foreclosure auctions are running at ten times the rate of last year.
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The Phoenix Area Foreclosure Expert: Current Foreclosures 4 $ale::
Bidding war for REO: $195000 "AS-IS" with ~$250000 rehab value. This house was "active" in the Phoenix area MLS in January of 2008.
http://www.foreclosureexpert.info/real_life_foreclosure_examples/index.htmlHOME |
U.S. foreclosure filings for August more than doubled from a year ago, data released this week showed, confirming a trend already well understood in many regions throughout the country, and no state wants to wear the mantle highest foreclosure rates.
Complicating the problem is a national housing glut, which makes it harder for struggling owners to sell and pay off their debt. Also, investors who play a big part in supporting the mortgage industry are starting to shy away because of the problems, which will mean less available money to loan.
Without question, this economy faces risks of recession; shaky economic signs abound. One indicator of the housing market, permits issued for new homes, has slid to the lowest level in 12 years. And that affects demand for everything consumers buy to furnish new homes, from furniture to appliances.
Any recovery is months away because builders are swamped with unsold inventory. And the end is nowhere in sight, either, not with as many as 2 million new foreclosures expected in 2007. But there is also opportunity to directly aid those 2 million homeowners whom face foreclosure this year.
Indeed the first cut in the federal funds rate in more than four years will move to help banks and investors too.
It is important to note that the pre-foreclosure investor takes into consideration the differences between residential families and speculation. Unlike some, the pre-foreclosure investor acknowledges the errant actions of an opportunistic mortgage industry and does not seek take to take advantage of those who can least afford it. Under the guide of a trained pre-foreclosure investor, protection of the homeowners credit is critical and foremost.
Utah Foreclosure News::
Our foreclosure listings database has thousands of bank foreclosures in your area. A property in foreclosure can be bought by anyone - although you have an
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mikescarlett.com - Home::
As a veteran of marital conflict myself, I offer to you some Rules of Engagement for Marital Wars. You must treat your spouse just as you would like to be
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Foreclosures are at an all time high in most areas of the United States. As investors it our obligation to help as many of these people as we possibly can so they can get on with their lives and have a fresh start.
Scott Johnson: City of a Thousand Foreclosures::
Mar 7, 2008 Conspiracy Theory, Fears of Betrayal and Today's Anti-War Movement . Notes from the Foreclosure Front: Suing Your Way to Solvency
http://www.counterpunch.org/johnson03082008.htmlHOME |
If you truly want financial freedom, now is the time to invest in pre-foreclosures. Yes, now is the time because foreclosures are at an all time high nationwide, and it isnt going to get better any time soon.
Properly done there will be many millionaires made in this market for the next few years. Its quite simply the law of supply and demand along with the knucklehead lenders that allowed the public to purchase properties of much more than they could afford.
These adjustable rate loans have now adjusted upwards to the point where the payments are no longer affordable and my heart goes out to the families that have been duped by these lenders. If you are one of those lenders and you are reading this all I can say is shame one you. But the great thing is those same lender are now getting what they deserve.
The old saying, what goes around come around is so true. Just look at Countrywide and many other lenders that are now sitting with literally thousands of(REOs) properties. They are lenders and have no desire to be in the real estate business, but because of their stupidity and greed, they are now.
What does that mean to you as an investor? It means that there is more money than ever before to be made as an investor and heres why. The banks are no longer the liberal lenders they once were and thousands and thousands of people that would have qualified for a loan before dont now.
People are selling their houses subject to more now than they have in the past 34 plus years that I have been in the real estate business. For those unfamiliar with the term subject to Ill explain.
The seller deed the property to you and the note and mortgage stay in the sellers name until you get the property sold. You can now sell the property or lease option it. Lease option is a wonderful way to help someone get into a home. As long as the property isnt over financed you will be able to make the payment to the make and add a profit monthly.
One of the great things about lease options is that less than 25% of the people that lease option a property will ever exercise their option. There are homes here in Florida that have been lease optioned three and four times. Each time the person lease optioning plunks down anywhere between $5,000 and $50,000 which is non refundable.
It still amazes me after being in this business for so many years that people will just walk away from that kind of money and think absolutely nothing of it. I can assure if that were money I would be doing everything I possibly could to protect my investment, yet we still see it happening on a consistent basis. I guess Ill never figure out what goes on in other peoples minds.
The point being is that this is truly the time to be investing in pre-foreclosures. The market is flooded with them and the banks are willing to take discounts like they have never done before. So, in many cases where you may look at a property and think to yourself there is no equity in the property, you may be dead wrong.
Getting a bank to take a $30,000 or $40,000 discount today isnt difficult as long as you can show the bank that there is a good reason for them to accept it Banks dont want to take back, maintain or have the liability of a vacant property if there is any way they can prevent it from happening.
So my dear investors start looking for properties again and stop having your daily pity party. You see, when you have a pity party few people ever come and there are never any gifts.
When you all got into this business you agreed to help as many people as you possibly were able to and make a profit in the process. Just remember when you take over a sellers property subject to and make any promises to the seller make absolutely certain that you live up to your work or dont take over the property.
If you do make promises and dont keep your word and we hear about it, we will do everything in our power to get you out of this business to protect the public and the good name of the investors who really are interested in helping people solve their problems and getting on with their lives. Now stop acting like a wimp and go out there and help the sellers that so desperately need your help.
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