Ken Black asked:


For the first time home buyer, buying your first home is one of the most exciting things you will ever do. If you have spent years living in apartments, there is nothing more satisfying than owning your own property. The process can be a little lengthy and you might hit a few bumps in the road to home ownership. The following tips will help the first time homeowner avoid some of the hiccups.

Step one is to talk to a real estate agent about the home buying process. It should not be a sales meeting and you should be able to find an agent that will agree to meet with you about the basics without having to sign a sales agreement with them. If you cannot find a good agent to talk to, you might want to consider talking to a loan officer at your bank or a mortgage broker.

An equally important tip is to get your finances in order before you apply for a mortgage. Order a copy of your credit report so you can check it for accuracy. Mistakes are common and you want to make sure that there is no fraudulent activity. You have the right to dispute errors on your credit report. If you come across something that you know is an error, circle it and send it to the reporting agency along with a letter of dispute.

Next, you should really study the mortgage industry. You need to be able to find the right loan and lender most suitable for your needs. Familiarize yourself with industry terms like debt to income ratio and adjustable rate mortgage. Learn the difference between pre-approval and pre-qualified. It will all seem foreign at first, but taking the time to learn the business will spare you from headaches in the future.

Also, you need to figure out what your wants and needs are. What kinds of amenities are you looking for? How many bedrooms? One story or two story home? You also need to consider the size of the down payment and figure out what you need to do to come up with the money for it.

You must learn about how real estate agents work. There are buyers agents and sellers agents. A buyers agents responsibility is to negotiate the best deal for the buyer. The goal of the sellers agent is to get the price that the seller most desires. The best way to find the right agent is to ask your friends for suggestions. They have all probably been in the same boat, so they can probably recommend a good real estate agent.

When meeting with a potential agent, pay attention to how they treat you. Make sure they listen to you when you talk about what you want. Also, how are their follow up skills? Do they take the time to return your calls or emails? If they do not take the time to respond, move on. There is a better agent out there for you.

When looking for a home, consider all of the possibilities. Look up real estate agents websites. Do not rule out For Sale by Owner Properties and foreclosed homes. Housing and Urban Development (HUD) homes can often be found for very reasonable prices. You do need to find an agent that is approved to sell HUD homes if you choose to take that road to home ownership.

Before you even think about making an offer, you need to consider the resale value. You might plan on being there for a long time, but you just never know. You might opt for a different climate to alleviate your allergies or you could simply be transferred by your company. You want to pick a good location that will be attractive to others as well.

Another issue that cannot be ignored are the deed restrictions, which govern what you can and cannot do with the property. If it has always been your dream to have a pool, you want to make sure that you do not buy a home in a subdivision that will not allow it because of deed restrictions.

Home inspections are an important part of the equation. Talk to your agent to find out when the inspection will be performed. It varies state to state. Sometimes the inspection will be right before the contract is signed and other times, they are performed right after an offer is made.

Finally, make sure you stay on top of things. Any number of problems can crop up at the last minute and delay the purchase of your home. If you are not sure about something with the paperwork, do not be afraid to ask questions. You might think of something that everyone else has overlooked.

Purchasing a home is a time consuming and sometimes frustrating task, but it is worth it when you have your backyard barbeques.

clint asked:


Amazing Chicken Soup Recipe For… Short Sales. National Expert Spills His Guts and Reveals The Secret Weapons Used By Savvy Top Real Estate Investors. One Method Gets An Extra 20% Discount From Every Bank. Get All Deals Accepted Quickly. #1 Free Site Exposes Select Strategies.

 

Discover why lenders will take less than what is owed and forgive the balance of the mortgage. Multiple loans and the more upside-down the property the easier it is to do a short sale, and the bigger the discounts.  A positive and guaranteed foreclosure resolution for all parties, and I will explain why.

 

Learn how a beginner can get a complete package sent in the same day and an offer accepted within 30 days wiping out all outstanding obligations. I know this may sound silly, but stay with me and I can explain how.

 

Realize insane profits for real estate investors and unheard of super buys for families looking to realize a lifetime dream to buy a new primary or secondary home and or for retirement investments. A total enlightening of short sales.

 

An honest and treasured collection of trusted and protected secrets that some underground ex-bank mitigators have shared with me under secrecy.

 

Gain valuable knowledge and appreciate why our competitors think I use methods that some may believe are “illegal”. Rather it’s merely using an unfair disadvantage gained by a very diligent pursuit to uncover the underlying mystery.

 

Proven methods demonstrate sheer simplicity and straightforward truth. This guy really knows what he is talking about. No dilly-dallying or sugar coating.

 

Gain access to many loss mitigators with their private fax and phone lines along with personal e-mails. Get immediate access.

 

Discover how to covert these highly prized discounted properties into gold mines.

 

Understand how to get the bank to call you back and share other profitable deals with you. Tips the bank will openly share that will help increase your profits every time. The bank wants you to successfully complete the short sale and come back for more. Know why they want to work with you.

 

Anyway that you slice it, a sure fired winner for all involved parties. A true win-win and everyone gets what they want. A real eye opener.

 

All the rage today is mainly about a sluggish real estate market and also about foreclosures, but very little about short sales. Apprentice by a renowned master.

 

You are thinking…yea, I heard about them, but really didn’t want to act dumb and ask. Well, you are not alone. Even many real estate agents don’t know either, until…the short sale deal completes and they get their commission check, and they are “all ears”. How did that happen so quickly?

 

My name is Clint Cohen and I am an active real estate investor, author and educator. I have been active in creative real estate investing for over ten years and have spent thousands of hard earned dollars learning and mastering a system of securing foreclosures. I then create unheard of profits out of “thin air” by reselling these hugely discounted properties to a never-ending list of buyers.

 

Up until then I was savvy about being creative, but when I heard the term foreclosure or bankruptcy, I said, “I’ll pass”. I knew just enough to be ignorant and sense enough to “pass on it”. I admit that I knew very little at that time.

 

As one of my first rent to own deals started “going south,” I thought that it was best to call the sellers bank and see “what the heck is going on”?

 

That was my first brush with a foreclosure. The lady at the bank (a “gruff” lady) proceeded in setting me straight. After she calmed me down and explained just exactly what she wanted and what I needed to do if I wanted a “good deal”.

 

She explained that the bank was not interested in being in the real estate business. It was in the bank’s best interest to get me a good payoff discount on what was owed by the property seller (I only had an option to buy the property).

 

I heeded her advice and was able to do my first short sale option transfer (i.e. “flip”) and not only salvaged the $15,000 of profit that I thought that I was about to lose to a foreclosure, but actually was able to raise the profit to $25,000.

 

Not bad for stumbling unguided through a dark and cloudy maze of unknown.

 

At the time there were very few books and tapes, and I never heard of a “boot camp” other than in my military days. I kind of “hob knobbed” and slowly made sense of it. I was a slow learner, but very persistent and determined.

 

Since that time of wonder, I have attended many seminars, bought a few courses and read everything I could get my hands on. In the interim I have successfully completed hundreds of short sales and saved many homeowners from the brink of foreclosure and realized thousands of dollars of profits for my efforts.

 

I actually completed four short sale deals in one day. I should say, a very busy but very profitable one, I profited over $150,000 in one day. Smiling brightly.

 

The one thing that I found to be very enlightening was the fact that as I learned a piece here and there, I truly believe that most of the gurus and book writers have never actually completed a short sale transaction? All textbook theory that reads well but really doesn’t work. Believe me, I read them all.

 

Describe how to swim, but you can’t tell me what the water feels like.

 

I asked a well-known guru several questions at an event and he admitted that he didn’t have the answers and has really never completed many sales and his income is from speaking. He laughed and said that he would call me when he actually ready to do a short sale deals. “I like your way better”.

 

Enough story telling. Getting back to the short sale business.

 

Let me explain what a short sale is. First I will start with a typical sale.

 

When a property owner decides to sell a property, the closing attorney calls the bank and requests a payoff amount to satisfy the mortgage. That amount is included as line item on the settlement sheet, HUD-1.

 

That payoff number is subtracted from the selling price less any other normal and reasonable expenses and the seller typically leaves with a check for the difference. A happy day for the seller with money in hand and the property sold.

 

This is the scenario that most of us are familiar with and typically happens.

 

Now this is where the “rubber meets the road,” and where my invaluable experience separate the go-getters from the wannabes, plain and simple.

 

However when the property owner wants to sell the property and now for a combination of reasons owes more than the property is worth, what options does the seller have now? Under typical circumstances, many if they act quickly.

 

In most cases like this, the seller believes that there is no hope and generally walks away from the property, and by default the bank takes it back by a foreclosure action.

 

 It becomes a REO property (real estate owned by the bank) and resold at a fraction of the original loan value. If only the seller had been diligent?

 

Stands to reason that if you cannot payoff the exact amount of the mortgage, what other options may be available for the seller? Let’s see???

 

One relatively unknown option is to negotiate a SHORT SALE.

 

A short sale is a term used by the bank whereby they will grant to the borrower a lesser payoff amount than what is actually owed. That’s correct, for less than what’s owed including closing costs and real estate commissions.

 

Example… if they owe $100,000, the bank would accept $85,000? That’s exactly right…a mere $15,000 of savings, enough to get it sold now.

 

If that were the case, then a property owner that owes more than the property is worth would then be able to complete the sale of the property with a short sale. The revised sale price would now be at or below market value.

 

Why in the world would a bank want to even consider this discount?

              

·     Eliminates future carrying costs till the property would sell.

·     The longer a property is unsold, it continues to decline in value.

·     The bank realizes there is a buyer ready to close now.

·     The bank is not and doesn’t want to be in the real estate business.

·     The bank is not earning any money on non-performing loans.

·     The bank only earns money when borrowers are repaying loans.

·      It’s the best of a worst-case scenario. No other choices.

·     Looks better on the report to the stockholders.

·     Stop chasing good money after bad. Stop the bleeding.

 

Now coupling this with the current economic situation, the numbers of foreclosures have absolutely multiplied. Some counties are averaging over 100+ foreclosures daily combined with a decrease in property values by 25%, a 3+year backlog of property inventory and minimal monthly sales.

 

All these situations are creating tremendous opportunities for real estate investors and buyers. A 3-4 year supply to pick from and prices at a huge reduced savings lead to a true “buyers market.

 

A buyer can find a super super value on a new home of up to a 50% discount of market value. A real estate investor can flip, option or fix up and rent it, then resell it at a hefty profit later when the market rebounds.

 

As you can see, a short sale can open up a “log jam” for many sellers that would otherwise lose their homes to foreclosure. Additionally it becomes a golden opportunity for buyers, real estate agents, and related service industries and for people like you and me.

 

Meeeee… You are saying, what do I know about short sales?

 

This national expert is spilling his guts and is revealing many secrets. I am willing to show you how to negotiate these highly profitable short sale deals that will be a win-win-win for all parties.

 

Learn how to complete these highly profitable deals quickly so you can start helping these sellers and buyers while earning thousands of dollars for applying your new found efforts.

 

I had an associate a few years ago that asked if I could teach his friend so she could learn to do short sale deals? I agreed to coach her on a 50-50 split. On her first deal the total profit was $79,750. Beginners luck!

 

 

I have compiled all my many years of successful short sale deals including all the necessary forms, scripts and all that you need to get started and have a highly profitable business in a short period of time.

 

You can start out part time working a few hours a week and increase to full time. One hour a week can easily earn you $10,000 a month.

 

Learn how to find the sellers and buyers and what to say and do. Copies of many ads and compelling scripts. Paint by the numbers.

 

 

Everything is written that even a seventh grader can understand it. Detailed instructions show how to do and say everything correctly. Every sheet of paperwork has been time tested and legally checked.

 

No boot camps, tapes, videos or graduate manuals written in “Greek” by an anal PHD that had formally edited insurance policies.

 

Free, Easy and Understandable SHORT SALE Techniques that “jump off the page” immediately into action and quickly followed by your 1st profit check. Better warn your bank to get ready for your frequency of deposits.

 

There has never been a better to time in history to get involved in this unlimited opportunity. There is no greater joy in life than helping others.

 

These sellers are begging for help in getting out of these foreclosure situations. The banks are anxious to get these defaulted mortgages resolved quickly and the buyers are truly looking for a super savings in the purchase of their new home. And you…are looking for…? Thought so.

 

My wife thinks that I’m crazy for telling everyone my hard earned secrets and that I should just let well enough alone. You know how well men listen? 

 

I’ve done so many things in life and the best things that continue to overflow into my memory bank are those services that one does to help others. And that my friend delivers to my heart its greatest joy.

 

Well, for now all this super stuff is available. But…if I were a smart man and listened to my wife… You better get it before I start to listen.

 

To learn more about this exciting and profitable business and to get your Free copy of Successful Short Sale Secrets, please visit our website

alpaczlo asked:

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Al Hardymon asked:


How is the market for Indianapolis HUD homes? One word, Great!

First, what are HUD homes?

A HUD home is a 1 to 4 unit residential property acquired by U.S. Department of Housing and Urban Development (HUD) as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

The number of central Indiana HUD homes sold in 2006 (as of 10/31/06) is up over 70% for the same period in 2005.

The overall rate for Indiana foreclosures is usually in the top ten for the nation. The Indiana foreclosure rate for the 3rd Quarter of 2006 is up 40% over 3rd Quarter of 2005.

According to RealtyTrac first annual 2006 U.S. Metropolitan Foreclosure Market Report, Indianapolis leads the nation in having the highest foreclosure rate among the nation’s largest 100 metropolitan areas. The report documented an Indianapolis foreclosure rate of one foreclosure for every 69 households.

Sales of HUD homes in Indianapolis area and central Indiana represents almost 7% of the market for single family residential properties.

HUD homes in Indianapolis area are not just old houses ready to fall down. Almost 50% of the Indianapolis HUD homes sold in 2005 and 2006 are less than 10 years old, 35% less than 5 years old.

Why are new homes going into foreclosure in the Indianapolis area?

It is my opinion some of the large Indianapolis area home builders have been too aggressive in getting new home buyers into homes.

In order to get some new home buyers qualified for mortgages they will do a 2-1 or 3-1 buy down of the interest rate. Also, in Indiana we pay property taxes in the arrears. The property taxes for a new house initially would be only for the lot because the house hasn’t been assessed yet.

In a couple of years the interest rate and property taxes will go up, just increasing the home buyer’s payment $200-$500 per month. They can’t make the mortgage payment and the property goes into foreclosure. Unfortunately for the home buyer the property becomes one of many Indiana foreclosures. If it was financed by a FHA insured loan it will become an Indiana HUD foreclosure.

What does all this mean to you? It means great opportunity for you!

If you are looking for a home at a bargain price or a great investment property in central Indiana, one of the 300 Indianapolis HUD homes currently on the market may be just what you are looking for. The time is right to buy Indianapolis HUD homes!

You can do a search for Indianapolis HUD homes on my website and also learn more about how to buy HUD homes for sale.

Kevin Ramos asked:


There are some simple steps that homebuyers often miss when looking for their new home. Taking the time to consider these steps can save you thousands of dollars, but more importantly, can smooth the process of buying a new home, saving time and money, as well as alleviating stressful situations in advance.

1. Begin by being up front and honest with your REALTOR and lender about your credit history. Your credit, whether good or bad, affects everything from your down payment to your interest rates. Your REALTOR or a professional mortgage consultant can often advise you as to how you can get credit problems cleared up or completely eliminated from your credit report before you apply for financing or make an offer on a new home.

2. Getting pre-qualified for a loan by a professional lender before you begin your search for a new home will allow you to know in advance exactly what kind, and how much, mortgage you can afford. This makes it possible for you to make an offer on your new home with confidence that enough funding is available.

3. If the seller does not offer a home warranty on the house you want, ask your REALTOR to make it a part of the written offer that you make. A home warranty can save you thousands of dollars in repairs, and can often be obtained for a very nominal annual fee. A standard warranty covers the electrical, plumbing, heating and air conditioning systems as well as major home appliances.

4. Ask your REALTOR for a market analysis of the home, in comparison to similar homes in the neighborhood or throughout the city, before you make an offer. A home is not just a place where you live – it is also an investment. Take the time to view several homes before you make an offer so you know exactly what is on the market. Be certain you are making a wise investment.

5. Make your offer contingent upon a home inspection and ask the seller to make the required repairs. Hire a professional to inspect every aspect of the home thoroughly. This can save you thousands of dollars in costly repairs and many headaches in the future. A good inspection can also allow you to negotiate for any repairs prior to closing. If the seller is not willing to make the necessary repairs, remind them that the lender will also require the home to be in good condition before they make a loan for the purchase.

6. Take into account your present homeowner or renter status. If you already own a home and must sell it before you buy a new one, it is best to get a REALTOR to do a complete market analysis on your present home. This allows you to know how much you can sell your current home for before you make an offer on a new one. If you are leasing or renting, the lease’s expiration date will give you a timetable for your new purchase. Review this with your REALTOR well in advance of when you want to move.

7. Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for and to help you get the most home for the money?

Rick Sarouk asked:


Department of Housing and Urban Development (HUD) residential foreclosures are available throughout the United States. The sales process for purchasing a HUD home isn’t quite the same as you’ll encounter when buying a home from an individual, so take a few notes before you go home shopping.The Federal Housing Administration (FHA) is a part of HUD–the part that provides federal mortgage insurance. If a foreclosed home was purchased with a loan insured by the FHA, the lender can file a claim for the balance due on the mortgage. FHA pays the lender’s claim, then transfers ownership of the property to HUD,which sells the home.

How much do HUD homes cost?

HUD homes are appraised, then priced at fair market value for their location. The price of a home in need of repairs is adjusted downwards to reflect the investment the new owner must make to improve the home.

Will HUD make the repairs?

HUD homes are sold as-is. The new owner is responsible for all repairs and improvements.

How do I find a HUD home?

You can view HUD listings by following state links on HUD’s Web site. Each state’s Internet destination is set up a little differently, so take some time to browse the search engines and layout.When you’ve located a home you would like to see, any HUD-approved real estate office can show you the property. They are listed on the WEb site. HUD employees do not work with home buyers–you must use an agent.

Do I simply make an offer to purchase a home?

HUD foreclosures are sold using a bidding process. There’s an Offer Period, during which sealed bids are accepted from your agent. At the end of that period, all offers are opened. HUD will generally accept thehighest bid, or the bid that brings them the highest net.If the home remains unsold after the initial period, bids are opened as received.

If your bid is accepted, your agent will be notified within a day or two. You will be given a settlement date, usually 30-60 days from the date of your accepted contract.HUD will pay real estate agencies a commission of up to 6% for the sale of the home. Be aware that to get paid, the selling agent must insert wording in the contract that verifies HUD will pay his or her commission.

Does HUD Provide Financing?

HUD does not finance homes. You’ll need to arrange for conventional or other financing. Be sure your financing is in order before you make an offer. If your bid is accepted, and you do not close on the house, you may lose the earnest money deposit you submitted with the offer.

Should I have a professional home inspection?

Home inspections are recommended for any home purchase. You should inspect a HUD foreclosure before you make the offer to purchase. It will help you determine a bidding price, especially if repairs are required.Homes build prior to 1978 may contain lead paint, so learn more lead paint hazards before making an offer. Other items to consider are asbestos content, buried storage tanks, and other environmental

Can I buy a HUD foreclosure for investment purposes?

During the initial offering, HUD homes are usually available only to those who wish to live in the home. If an owner-occupant does not bid on the home, investors are allowed to enter the bidding process. If foreclosures are not sold within six months, HUD will sell them for $1 each to approved nonprofit organizations and government agencies. Homes must then be used create housing for families in need or to benefit neighborhoods.HUD offers special home purchase programs for teachers and full time law enforcement officers.

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D.C. Fawcett asked:


Benefits to the Seller of the property

The seller wins by avoiding foreclosure by selling their home before the foreclosure auction even if they owe more than its worth.

If sellers were to sell their home foreclosures the traditional real estate transaction with a realtor without a short sale, typically they would have to bring tens of thousands of dollars to the closing to sell their own home. This is not an option for them because they are in foreclosure and don’t have any money.

Sometimes they are able to get some moving money out of the deal where they would get nothing if they lost the home back as a bank foreclosure. A bank foreclosure is also known as an reo.

Benefits to the Lender

The Lender wins because they are getting some of their bad debt paid off and are decreasing the amount of foreclosures and reo properties they have.

You see, when a lender has delinquent loans on their books, it affects how much money they can lend out in new loans because they are regulated by the FDIC. So the more bad loans they can get rid of, the more good loans they can then go ahead and acquire. This is why they have the Loss Mitigation department to help the bank liquidate their foreclosure listings.

Also by taking a home to auction, the lender will lose 35-50 thousand dollars.

So it’s a huge cost savings to them to do short sales before the auction occurs.

Benefits to you the Investor

The investor wins because we get to make a great profit on a home while offering free foreclosure listings to our buyers, most of the time in the area of 25-200 thousand dollars, that we have invested little money in, have not had to put our credit at risk and we don’t have to rehab the property.

Most of the time we are able to get these properties at 60 cents on the dollar and they are in great condition. I have acquired foreclosures through short sales in bad condition for as low as 28 cents on the dollar. That means I was able to acquire a home for 28 cents on the dollar by doing a short sale with the lender. You can’t buy hud homes for that much of a discount.

The information of how to short sale a home benefits everyone:

It benefits Realtors because in today’s market Realtors are getting tons of listings with no equity and they can turn these dead leads into strong commission checks that they wouldn’t get without knowing how to help their sellers out with a short sale.

It benefits investors because they are getting a lot of leads now from sellers that owe more than their house is worth. The only option for them is to do a short sale.

And the short sale business for investors is awesome in this market because you don’t have to make payments on the house, you don’t have to make repairs to the home, you don’t have to put your credit on the line to do the deal and you make a huge profit just for structuring the whole deal. The best part is you can control large luxury style homes while generating exponentially more profit than starter homes without any risk. You make ten times more profit on a luxury home than a starter home and its that same amount of work and still no risk.

Home Foreclosures are at an all time high and it is your time to get in the game and help out some needful homeowners while make a boatload of cash along the way. Short Sales need to be a part of every investor’s real estate investment strategy in today’s mortgage and housing market.

To get a Free Loss Mitigation Training Course, Go Here What is a short sale

Dedicated to Multiplying Your Income,

D.C. Fawcett

The Business Building Coach to the Foreclosure Industry

DCFawcett asked:


I get asked all the time by new real estate investors if investing in hud homes is a good strategy. I will be recap in this article what I tell them….

The increased demand drives up the price and new investors tend to get any and will buy based on emotion instead of logic because they “just want to get their first deal”. If you pay too much for a property, you will lose your shirt on the deal. That’s why it important to not overpay for the property because you make your money on a property on the day you buy, not the day you sell.

This is why it’s important to have the right real estate investing training so you know how to spot the good deals from the bad and not overpay for a property. Your first deal can bankrupt if you don’t structure it the right way. I see this all the time in my real estate investment club. The guys that don’t take the time to invest in their education are soon out of business because they try and figure it out on their own and fail.

Short Sales are a great way to guarantee that you won’t overpay for properties. If you are wondering “what is a short sale “or are wondering what the “definition of a short sale is“here you go. A Short Sale is when the lender accepts less than what is owed on a mortgage on home foreclosures.

All of The deals are no money down.

We don’t give the sellers any money when we get the deed to their house.

The only thing you have to pay when you get a deal is the cost of the notary and recording fee when you record your deed. That’s a maximum of $100. Now my acquisitions manager is a notary so I don’t pay any notary fees. If you don’t put any money down on the house, you aren’t putting any money at risk.

You don’t need good credit to do short sale deals.

You don’t need to go get a mortgage when you do short sales deals. If you don’t need to use your credit, you aren’t putting your credit at risk. You fund the deal the way you structure the transaction. You fund the deal by either:

The ability to own houses without having to make monthly mortgage payments.

There are no monthly payments to make for short sale deals. The houses are either

in foreclosure or about to be in foreclosure. You don’t need to make any payments therefore you aren’t putting any money at risking making monthly payments.

Preforeclosures and Short Sales are extremely easy to find right now.

There aren’t enough investors out there to handle all of the deals in the market. That’s why I’m on a mission to equip you with all of the resources you need so you can go out there and help all of these struggling homeowners and make a lot of money while doing it.

You may here some real estate speakers say to stay away from foreclosures because there is too much competition. Well that was then and this is now. They are teaching old information because they are not currently practicing what they preach. I am actively buying and selling foreclosures in my own backyard and I know what works and what doesn’t work. And I have to tell you there is no competition for preforeclosure and short sales now because there are so many of them.

Short Sales are easy to get because it doesn’t require you to do a lot of negotiating with the seller because they know they don’t have any equity and they’re just looking for a way out. You are their solution! I love working with short sale sellers because they are the most motivated sellers out there.

Short Sales are the most profitable quick turn deals to do in residential real estate because you’re making all of your profit on the discount with the lender

One of the biggest benefits of the short sale business is that it works even better on Luxury Homes. The banks are more flexible and more negotiable on larger mortgages. Banks don’t want to take houses back and they definitely don’t want to take back Luxury homes.

It takes the same amount of work to do a deal on a luxury home than it does to do a starter home. The difference is A Luxury home pays 10 times as much profit. Its like doing 10 deals in one and when you combine the short sale strategy with luxury homes, you’ve got the golden ticket.

You See, Banks are in the money business. They’re not in the Real Estate business. They don’t want to own any properties. Their only interest is making interest on their money. Foreclosing on homes is a hassle they have to deal with because it’s a cost of doing business for them. The sooner you understand this the sooner you will realize how huge this opportunity is for you right now.

When banks lend out money – they have to keep a multiple of 5 times the amount of money they lend out in reserves. When a loan goes bad, it’s now considered a non-performing asset and that limits the amount of money they can lend out.

It costs a bank a minimum of $30,000 to foreclose on a home. They would rather take a discount on the mortgage and get that bad debt off their books so they can lend out more money.

You are the solution for them. Banks need you to help them liquidate their houses so they can get rid of their bad debt. You are doing them a great service.

Shellaine Enfesta asked:


At lot of people will say that you have already made it as a success if you own at least one good piece of land. Hud home Savannah Georgia can be an option to make that possible for you. The rich, the powerful and famous people have half a dozen or more properties around the world. However, you do not have to be like these tycoons to feel you are one of those success stories. Owning a real estate property in Savannah Georgia makes you a real winner and a success.

Anyone can have a piece of Savannah if you try hud homes Savannah Georgia.

The historic beauty and the majestic sceneries around the town is so breath taking. It makes you feel you are in another world. In fact, Savannah is listed by Conde Nast Traveler as one of the top ten US cities to visit. So in a way, owning a real estate property in here is much like winning a lottery. But then I do not promote it but you can check it out for yourself. When you own a piece of real estate here, you just a stone throw away from the likes of; the famous Bonaventure cemetery (one of the best attractions in the US), the Jasper Monument, Forsyth Park and many more.

The other best thing about this place is the proximity to The Landings on Skidaway Island. Just twelve miles south of these magnificent and historic Savannah Georgia, is The Landings on Skidaway Island. People here have a unique and refreshing way of life. The exceptional class of amenities and clubs are nothing short of the best money can buy.

The natural surroundings too, are nothing short of exceptional and breathe taking. Thus, owning a real estate here makes you feel the prince or princess you have been dreaming about. So get your listings of hud homes Savannah Georgia now and start the process of good life.

There are many ways you can do to purchase a real estate property. Even if you do not have that cash or money to buy your home, you can still find ways to purchase your home. Looking for a foreclosed bank owned properties is another way of buying a home with a lot of discount like 30 to 50 percent. Going online to find these listings is so easy anyone can do it. There is a lot of online foreclosed bank owned real estate properties which you can start with.

HUD homes Savannah Georgia may have foreclosure properties too. A property for sale here comes from all ranges. A House price here comes in all sizes and fits any budget range. The other real treasure that you can find here is the people. A resident here exudes a certain kind of warmth and hospitality that is unique to the place. It is not only the beautiful, gorgeous landscapes and exciting locations that you will get, but they are real homes.

When you decide on a real estate property purchase in Savannah Georgia, go around these magnificent city or go online to your lists of properties that will suit your budget.One of the option or place may be Hud homes Savannah Georgia.

Nicholas Scoville asked:


The looming credit crunch is affecting markets world wide. The crunch is fueled largely by the alarming number of home foreclosures. The crisis initially began in the sub-prime lending sector, but is starting to show signs of moving into prime mortgages. If you find yourself one of the unfortunate homeowners that has or is about to miss a mortgage payment, use these steps to hopefully avoid the pain of foreclosure and losing your home.

1. Keep in constant communication with your mortgage servicer. If you are about to miss a payment, call them immediately. Never ignore any phone calls or letters they send you.

2. Remember to pay your mortgage payment before any unsecured credit payments. Credit card companies will let you know the moment you miss a payment, and will convince you your life will be over if you don’t pay them. The reason they get so upset is that they can’t take anything from you if you don’t pay. The banks know they can take your house if you don’t pay. Late and missed credit card payments will damage your credit, but nothing like a foreclosure.

3. Never give up hope. There are several steps that can be taken to get you back on the right track with your mortgage lender.

Some of the programs that help you resolve your issues with your lender include:

1. Reinstatement – paying a lump sum to bring the loan current and continuing with payments as normal afterwards.

2. Forbearance – you are allowed to delay payments for a short period of time with the understanding that you will bring the account current at an agreed upon date.

3. Repayment Plan – the lender may allow you to add some of your missed payments to an agreed upon number of future payments, thus bringing your account current.

4. Mortgage Modification – if you can’t pay a lump sum to bring your loan current, but can now make monthly payments, your lender may work with you, possibly adding the past due amount to the principal balance.

5. Selling your home – if you have adequate equity in your home, and are able to sell it for an amount to satisfy your mortgage balance.

6. Short Sale – the bank may accept a lesser payoff for your mortgage if you get an offer on your home. Make sure the bank accepts the amount received from the short sale as paid in full with no recourse, otherwise they can come after you for the difference. Banks are warming up to the short sale because they stand to lose even more money if they have to foreclose on your home.

7. Deed in Lieu of Foreclosure – the lender takes ownership of the property and forgives your debt. Much less damaging to your credit than a foreclosure.

8. FHA/VA – FHA loans and VA loans are government backed loan programs that have special programs to help you avoid foreclosure. Contact the VA or HUD if you have one of these loans for more information.

Your mortgage lender won’t automatically put you on one of these programs, you must work with them, and keep your promises to them. If you simply stop paying, you will lose your house, and any equity you may have in it. Banks are not in the real estate business, and do not want to own your home, they will work with you.