David Bach helps you understand the basics about your mortgage; how much you can afford, how to get qualified, what term is best for you and much more. You’ll learn how to find a lender of integrity to help you make these important decisions and prepare you for the homebuying process and serve you after you’ve bought your home.
Remember, homeownership is still the single most important investment you can make in your lifetime. Look for other webisodes in this series by searching for “Smart Homeowners” or visit finishrich.com
Duration : 0:5:15
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Technorati Tags: automatic millionaire, closing costs, david bach, down payment, finance, Financial Security, financing, finish rich media, First Time Homebuyer, get qualified, government tax credit, home, Home Loan, home prices, Homeowner, homeownership, house, investment, mortgage, pre qualified, pre qualify, purchase home, rate, Real estate, refinance, Refinancing, renting, responsible lender, smart homeowner, smart homeowners
The subprime mortgage crisis Kirk Williams comments who is to blame Kirk Williams comment
Duration : 0:2:49
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Only a few minor economic news releases today. The NFIB Small Business Index, which is the survey of the confidence of the Small Businesses, increased a little bit, but still stuck in recessionary levels. The Wholesale Inventories were Up a little bit too, but again, still low overall. Job Openings did drop a little bit too. On the technical side of the news, China is upset with the Fed for their QE2 announcement, as they feel the US is now flooding the Market with too much liquidity and vow to cap their Market. Ireland is in the news because of concerns of them being able to repay their debt, and Portugal is under the Microscope, as well. The Stock Market is Down, as well as, the Bond Market (more dramatically). The Traders are taking a step back to digest everything that happened last week (the elections, QE2) and what it really means. The Stock Market is currently at its highest levels not seen in awhile. The Bond Market appears to be over-correcting itself, as it opened with a huge gap of approximately 50 bps and is currently down another 28 bps. This means that Mortgage Rates could be worsened as much as .25% to .5% with just today’s numbers (depending on the Lenders pricing). I don’t anticipate it lasting for too long, as the news is not something that alarming, which it will generate this much movement. It may take a few days, but I believe you’ll see it correcting itself. Check out the chart and notice what happens with large opening gaps. Have a great day!
Duration : 0:3:55
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Technorati Tags: bond market, China, economic news, Fed, job openings, Mortgage rates, qe2, small business index, stock market, wholesale inventories
Missouri Mortgage Refinance Secrets. If you need a mortgage refi, or a home loan refinance anywhere in missouri, including Springfield, Branson or Joplin, you need to see this. http://www.EliteUniversity.info
Duration : 0:4:36
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http://shortsalemc.com
I am here at Peet’s Coffee & Tea in the Carlsbad Community of Bressi Ranch with Troy Huerta Broker/Realtor/Short Sale Expert and Mentor, to discuss issues that one can have when trying to do a short sale and avoid foreclosure.
JR Liens
What are JR Liens? JR Liens are loans or financial obligations that are attached to your property and are not in ‘first position’.
So, for example if you have two loans, your first mortgage is in first position all others are ‘JR LIENS’. Most of the time the first mortgage is in first position, unless you owe the Government, which always takes first position.
Here we talk about issues that arise when working with JR Liens, many times inexperienced Realtors take on a short sale only to find out many months later that a JR lien has already doomed them from ever closing the sale.
It is not all bad news though, we talk about these problems so we can advise you of actions to take before you commit a buyer to a long escrow that will go nowhere. Knowing issues upfront are key to a successful outcome in the world of short sales. More successful outcomes, more buyers who are willing to buy your home.
Here are a few items we discussed…
HELOCS
HELOCS have become very challenging to settle in short sale transactions, many times this lender will look harder for a detailed explanation as to what the money has been used for. Many times these lenders will require the seller to make a cash contribution or agree to repay some of the debt. Homeowners need to know this upfront, this is the first step to start over and put this massive debt behind them. You need to know how to make a case for your hardship and work with the servicer to work out a deal so you can move on with your life and put your financial life in order.
CHARGE OFFS
Some pool of loans serviced by lenders like Chase and Bank of America have began to sell off JR Liens to default note buyers after 6 months of non performance (nonpayment) These type of investors will then contract collection attorneys who practice the most aggressive collection tactics to try and collect on SOME of these JR Liens, this ironically makes settling your debt very difficult in the process. The most effective way to protect yourself from having this issue is knowledge, knowing will help you keep these debts from being charged off is key. Most of these second loan payments tend to be smaller and may be kept from charge off by paying the minimum required every month.
If this has already happened, do not just ignore the it, it WILL GET WORSE unless you proactively plan to remedy this situation. Remember this does not mean a short sale is impossible, it just means that a review is necessary to create a successful plan of action. In some cases short sale will not help and you may need to resort to more drastic measures such as bankruptcy. This is the time to prepare yourself, the quicker you do the quicker you can move on. We can help…
FORECLOSE AND FORGET MYTH
Some homeowners believe that if the home forecloses, then all other loans are wiped out and go away. We have found that many homeowners who had homes foreclosed in 2007 and 2008 are now beginning to get collections notices from their JR LIEN holders for money owed to them. Letting the “home go” will not make the problem go away. Now they not only have a foreclosure but their credit will continue to be dragged thru the mud for months and possible years to come.
The Realtor you choose to work on your short sale has to be familiar with your servicer (Bank of America, Chase, Wells Ect). You need a complete evaluation to see whether you qualify for your short sale.
I invited Troy Huerta to share his knowledge with you because he has been instrumental in my short sale success and he is someone I consult with on very difficult transactions.
Troy continues to educate REALTORS on secrets to a successful short sale and will start offering new classes for processors and assistants that work with REALTORS, so Realtors can spend more time working with their clients. This classes will begin in 2011, if you need more info on his courses just email me.
I hope you have enjoyed our series on short sales. My goal is to educate homeowners and agents that are new to short sales get a better understanding of what this market is like. Once you know more about short sales you can begin to see that not everything you hear about short sale are true. Most people hear about the horror stories surrounding short sales. Once you are familiar to this process you too will begin see short sales in more positive light.
The secret to success in Real Estate is knowledge.
Thank you and check us out tomorrow as we continue to share more about this topic affecting our Real Estate Market in Carlsbad California.
Duration : 0:5:58
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Technorati Tags: avoid short sale problems, Bressi Ranch, Carlsbad Real Estate, Charge Offs, Collection Attorney, deficiency, how to buy a short sale, Instructor, JR Liens, Settle your debt, Short Sale Certification, Short Sale Expert, Short Sale Guru, Short Sale my home, Short Sale Processor Course, short sales, success with short sales, Troy Huerta
Getting a Short Sale Lender to Change their Short Sale Acceptance Letter… Is it possible?
On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what HFC Beneficial is putting on their short sale approval letters that could kill your short sale closing and how or if you can get that verbiage taken off! Listen in as we not only cover this important “tid bit” of information about HFC Beneficial but also cover who CitiMortgage is using as one of their 2nd mortgage Debt Collectors, why it is important to know how much a 1st mortgage lender will allow a junior lien holder. Plus the latest update with our end buyers’ lenders regarding the inspection and appraisal process and more.
Duration : 0:6:33
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Technorati Tags: 1st Mortgage, 2nd mortgage, appraisal, buyer, CitiMortgage, debt collectors, forclosure, HFC Beneficial, inspection, lenders, preforclosure, Real estate, short sale approval, Short-Sale, tip of the week
Watch full Keiser Report №99 on Tuesday. This time Max Keiser and co-host, Stacy Herbert, look at the scandals of silver shortages and quitting the dollar. In the second half of the show, Max Keiser talks to Paul Mladjenovic, author of Precious Metals for Dummies, about silver market manipulation.
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RT on Twitter: http://twitter.com/RT_com
Duration : 0:1:26
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Join Ken Amundson, the 2010 president of the Reno Sparks Association of Realtors as he gets “To The Point” and provides an update on the current state of the residential real estate market in Northern Nevada..
Also featured in this episode is a discussion on the Association’s point of view on the discussion around mortgage interest tax deductions.
Duration : 0:6:25
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Technorati Tags: bank owned, investment, mortgage interest, rela estate, reno nv, sparks nv northern nevada
This was on live to air in the Home Loan rates cross today. He opens three pictures, checks if anyone is looking and then continues after the third he realizes he is live to Australia.
Duration : 0:1:28
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Jacksonville, Florida foreclosure defense attorney Chip Parker discusses the necessity of an assignment of mortgage when someone other than your original lender is attempting to foreclose on your home.
Duration : 0:6:57
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Technorati Tags: assignment of mortgage, Attorney, Chip Parker, defense, florida, foreclosure, Jacksonville