Posts Tagged ‘financial’

http://realestatemarketingthisweek.com/short-sales/short-sale-objections-advantages-and-hardship-letters-keeping-the-home-owner-in-the-home-helps-fight-vandalism/ – Short Sale Objections, Advantages and Hardship Letters; Keeping the Home Owner in the Home helps fight vandalism –

Part 3 – One of the things I mentioned at the beginning of the last segment is this special allotment of funds that we received from one of our mortgage banks that we currently have available, a 30 year fixed, no pre payment penalty this is the real deal just what youre looking for a 4.875% interest rate with an APR of 4.95% and that is available we do have people at the office right now if you have questions in regard to that they can answer them for you. You would call 480-Velocity

Michael, I have some clients who are buyers that would love that rate. Is that available to buyers as well? Actually, yes its that rate is for a no cash out refinance, no higher than 80% LTV, they have to have perfect credit to hit this number but even in some cases, well with this particular loan there are some closing costs, but one of the things we have available too is a no cost option and that interest rate is for people who are doing the purchase or refinancing and that rate is only 5.5%. The interest rate is 5.5% and the APR is 5.5% so that is for purchase money as well.

Were back talking here with Jeri League and Kalyn Roberts, were talking about the objections to doing short sales, there is another one you wanted to point out Jeri?

Yes, one more objection that people often have when we talk to them about their particular situation is that people feel that they have to be behind on their mortgage payment in order for a bank to consider a short sale and that is not true, the bank analyses everyones entire situation, we have people write a hardship letter, they want to see your financials and there is an entire situation not just being behind on your mortgage payment.

Your hardship may be that youre being relocated by your employer and you simply cant sell your home for what you owe on it due to todays market conditions. The banks will definitely look at that.
People think that the key is that you have to be late but that is not the case. That is really good to know, so we talked about the objections or the pitfalls rather what about the advantages to doing a short sale?

The biggest advantages to doing a short sale are: that its less impactful on your credit typically than a foreclosure and one of the most exciting benefits is that we can often extend the foreclosure and keep you in your house longer. In Arizona banks have a right to start a foreclosure as soon as youre over 30 days late on one mortgage payment. In todays current economic situation most banks are not starting that process for three to six months, but again that is most banks. They can start after one month.

Yes, but once they start the foreclosure process its a 90 day process in Arizona. So you will get a notice that says basically you have 90 days to come current with the note or to move and they are taking your house and selling it in 90 days. Now once we start the short sale process many times we can extend that foreclosure date.

I have personally done one that we had the home owner in for almost a year from when they stopped making their mortgage payments. Its not uncommon to be two or three months past the original foreclosure date that they gave you which of course gives people a lot longer time to decide what they are going to do, especially if its a family, they are not in such a rush to move, they can keep their kids in the same school district, there are so many reasons that that is a good advantage.

So Kalyn the truth is that homes that are occupied generally are better off and easier to sell than vacant homes right? So long as people are in the house and taking care of the house, if the house looks lived in but not trashed. What youre saying is lenders would just as soon leave them in the house then to have it vacant and potentially vandalized.

Definitely, the lenders prefer to have somebody living in there because they are taking care of the home, like you just said when the homes are vacant there is a high risk of them being vandalized, unfortunately and the worse the economic situation in the country gets the higher the vandalism rate on homes goes. In fact we were talking with a realtor in our office who typically takes listings in some of the lower income areas in town and they are going to stop putting signs on vacant listing because they are getting vandalized so much… http://realestatemarketingthisweek.com

Duration : 0:6:19

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Retiring in five years might not be possible in the current lending climate, but Marshall Reddick outlines a plan to buy a million dollars worth of income property and hold for the long run. A.D. Kessler’s Real Estate Roundtable #325 Clip 1 from Creative Real Estate Magazine at www.cremag.com

Duration : 0:1:2

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Survive and thrive in todays economy. With nearly 200 shows, business and investment guru, Jason Hartman interviews top-tier guests, bestselling authors and financial experts including; Robert Kiyosaki (Rich Dad, Poor Dad), Harry Dent (The Great Depression Ahead), Peter Schiff (Crash Proof), Ellen Brown (Web of Debt), Lawrence Yun (National Association of Realtors NAR), Thomas Woods (Meltdown), Gerald Celente (Trends Journal), Mike Mish Shedlock, G. Edward Griffin (The Creature from Jekyll Island), Chris Mayer (Capital & Crisis), Chris Martenson (The Crash Course), John Assaraf (The Secret), Robert Prechter (Elliott Wave), Pat Buchanan (Presidential Candidate), Eric Tyson (Investing for Dummies), Addison Wiggin & Bill Bonner (Agora The Daily Reckoning), Catherine Austin Fitts (Solari), Thomas Sowell (The Hoover Institution), Marc Chandler (Making Sense of the Dollar), John G. Miller (The Question Behind the Questions (QBQ!), Dan Sullivan (Strategic Coach), Steve Milloy (Green Hell), Gillian Tett (Fools Gold & The Financial Times), Howard Ruff (Prosper In The Coming Bad Years), Larry Parks (Gold Wars & FAME), James West (Crime of the Century), Les Leopold (The Looting of America) and many others. Profit from commentary on political news from Ron Paul, Jim Rogers, Warren Buffett, Bloomberg, CNBC, FOX, KABC and KFI. Learn fresh new ways to create and protect wealth while building passive income with real estate, home-based business, internet marketing, SEO, PPC, iPhone apps and social media. You’ll learn innovative ways to “game the system” relating to the American economic mess, Wall Street scams, mortgage meltdown, inflation, deflation and monetary policy. Jason shares his no-hype investment strategies for REO’s / foreclosures, auctions, lease options, land contracts, mobile home parks, self-storage facilities, rental apartments, office, retail, industrial, tax liens, loan modifications, credit repair and commercial real estate. Jason Hartman is CEO of Platinum Properties Investor Network based in Costa Mesa, California is a self-made multi-millionaire with over 20 years of financial experience. He currently owns properties in eleven states. Subscribe now for free to learn how to follow in Jason’s footsteps for a more abundant life. Visit: www.JasonHartman.com

Duration : 0:9:48

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Bill J. Gatten explains how the Illinois Land Trust allows investors to have the benefits of property ownership without most of the liability. Real Estate Roundtable #288 Clip 1 from www.cremag.com

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John Schaub explains how a strategy of buying quality single-family homes can make you a millionaire in as little as 10 years. A.D. Kessler’s Real Estate Roundtable #331 clip 2 from Creative Real Estate Magazine at www.cremag.com

Duration : 0:1:26

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Technorati Tags: building, business, creative, estate, financial, foreclosures, freedom, investing, investment, money, real, Rich, schaub, wealth, wholesaling