Part 4 (Excerpt)

Home Owner Negotiated Loan Modifications may have too many pitfalls

Yes, I think that makes perfect sense, the only analogy that I can come up with is I could probably figure out how to change the oil in my car, but its not my expertise. Im certainly not going to take the time away from what I have expertise in in order to figure out how to do that, Im going to have a professional do that, and it is the same idea with when someone is considering a loan modification.

You can probably call up that loss mitigation department of that lending institution versus going through the legal department and try to work through that scenario. But you dont know what you dont know, and if you take that approach and make that attempt it could cost you money, it could cost you a higher interest rate, it could cost you something that you are not even aware of. Thats where your team and the loan modification professionals and this attorney network that you exclusively work with come into play.

Again you talk about choosing to not change your own oil, of course you could figure it out, you wouldnt operate on yourself, if you got yourself into some legal trouble and you were an attorney you wouldnt represent yourself. Even though you may know what to do and how to do it, you are just not going to do it because you need an unbiased, 3rd party that is truly going to fight for your rights.

And who has expertise in this particular area, specifically focused on working on the mortgage holders, the consumers best possible outcome.

Thats right and that is a great point, we have example after example of people who have tried to do the loan modification on their own and most of the time what we see is a situation that is best for the bank, a temporary fix, well people dont need a temporary fix.

Temporary being the key word there, well make it better for one year, three years, five years,
whatever it is, but we will tack it onto the life of the loan. One of our strategic partners was just sharing a story on the break about someone he knows personally that did this, they did this themselves without the benefit of an attorney and the end result was a temporary, short term fix today, all of the back interest, costs etc. were tacked on to the other side of the loan, of this mortgage. That is not what you are after, with a loan modification.

And when you think about it a temporary fix is what put most of these people in the situation to begin with it, were a temporary fix. Remember the billboards that said if your mortgage payment is only $500 a month you are payment too much, call us for a 1% interest rate. Give me a break, people fell for it, everybody fell for it, it was a disaster. You dont need a temporary fix you need a real fix.

A real fix that is going to meet your needs as a consumer, that is going to meet the needs of your family so you can stay within the home and thats going to meet the needs of your cash flow monthly, to get a reduced payment, whatever it is going to be for you and your family, that is the whole idea behind modifying your existing loan.

Another important item we hammer down on so many of these issues, a loan modification is not for somebody who doesnt care. This is if you care and it appears that you will be faced with foreclosure, if you are late on your mortgage, if it is getting ready to go up, any number of genuine true hardships financially that happen to you. Your main goal has to be that you want to stay in your house, keep your family in that house, you need to call, we are here to help, we are not salesmen.

If you are able to find another solution, you know what we are happy for you, the more people in my opinion that are affiliates of my firm that are out there to help us through this process the better off we all are, the sooner we get through this loan modification, these toxic mortgages, the sooner all things economic will recover. The housing market is the basis for this economic crisis and everybody knows that.

There is no question and a number of experts that have weighed in and who have credibility that I receive advice from in terms of helping my own clients, they talk about the stock market in terms of when does it improve and when do stocks get a foothold and go forward and the economy starts to rise and recession come to an end and all those things.

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239-206-4500
eo@2hot4realestate.com

This is the first episode of my new weekly show. I know it’s a bit rough. The sound will improve, so will the content and imagery.

“2 Hot 4 Real Estate” weekly show will bring you:

- Most interesting and useful Florida real estate and financial news

- “Home of the Week”, a review and a tour of a hand picked house in Florida.

- “Things To do in Florida”, a segment about place to go and things to do around the state of Florida

- “Celebrity Homes”, best and most interesting news in celebrity real estate

- “Question of the Week” will consist of E’s question for you , as well, as any of your question pertaining to real estate and more.

I hope you enjoy it!

Please subscribe, favorite, rate and comment.

SEND IT TO ALL OF YOUR FRIENDS! SPREAD THE WORD!

And of course, any questions, and future episodes suggestions are welcome.

In this Episode:
News: Chinese Drywall, Tax Credit, Banks’ Meltdown, Ben Stiller’s House and guest starring Alice.

Tell me what you think of Alice, I might make her a permanent guest on the show.

If you’re interested in Florida real estate, contact us at the number below:
239-206-4500
eo@2hot4realestate.com

Duration : 0:4:43

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Part 4 (Excerpt)

The pitfalls for trusting your bank one more time; Beware The Foreclosure Sharks

This whole loan modification thing reminds me a lot of the old Peanuts comics where every fall Lucy would get out with the football and she would set it down on the ground, and she would coerce Charlie Brown into coming along and kicking the football. Well of course as we all know Charlie never got to kick the ball, Lucy always pulled it out from underneath him and I kind of look at the mortgage industry, the servicing end of it in particular that way.

You have to think about it, in many cases the loan that you were put into was not a good loan in the first place. The person who gave you that loan knew it was not a good loan, the Wall Street banks that came up with these crazy ideas should have known better. Now admittedly they didnt otherwise they would not be out of business today, but they should have known that these were not good products.

Yet when you are faced with an issue regarding your house so many people go back to the bank, like Charlie Brown going back to Lucy and believing that THIS time Lucy is not going to pull the ball away. Well what is going to keep the bank from not pulling the ball away from you this time? Absolutely nothing.

I love that analogy; everyone remembers the Charlie Brown show and the comic books like you said. Another thing I want to point out too, going back just a little bit, you mentioned the lenders who put these home owners into these loans knew that they were not good loans. My thoughts after some of the mods that Ive seen, that you and I have seen doing the forensic audits, the home owner could have qualified for an FHA loan in those times, but it was so much easier for banks to put them into these sub prime loans because the documentation was easier, and it was just easier.

It is not just that they are easier; I know that your firm, Velocity Financial is FHA approved but what percentage of lenders today when, we probably have maybe 30% as many lenders as we had two years ago, what percentage today is FHA approved?

In the state of Arizona, of all the lending institution, less than 15% of all mortgage firm, banks, credit unions, less than 15% are licensed by the federal Housing Administration. Velocity Financial is proud to be one of those firms.

What I saw back in the peak of the market is of course everybody thought that real estate was going to go up for ever. Every body wanted to jump on board and buy 3,4,5,6 properties and I always tell the story that I knew we were in trouble, I knew we were hitting the top of the market long before I developed any of the models for Real Estates Future when I walked into our bank one day and I saw that they had a loan that was 100% financing for someone to buy an investment property and they didnt have to prove their income and they only needed a 620 FICO score.

Which considering everything now, I mean, to get a Fannie Mae loan today what kind of a FICO score do you need? If youre an investor? If youre an investor you need 720 and probably 20% down, at least 20% down and certainly it is not stated income anymore. No that doesnt exist, and significant cash reserves, the whole nine yards.

So these banks knew the kind of garbage that they were giving to people and yet we are supposed to trust them to get us good loan modifications. I think that in one of the later segments we are going to talk about the newest guidelines that just came out from Fannie Mae and Freddie Mac regarding their new fancy-schmancy loan mod program and to be honest with you I dont think it really does much for people at all. We will talk about that in the next segment and to the people who are in the mortgage or real estate industry or who have been in the real estate or mortgage industry it is going to sound a little bit like a comic bit because this might as well be bath tissue, I dont even know why they came out with it.

We are going to talk about that along with a few other things, so real quick I know we havent had too much of a chance to talk about The Foreclosure Sharks, Dan but we will touch on that a little bit later. How do people get a copy of this white paper, The Foreclosure Sharks these are things that people need to be looking out for?

Yes, for The Foreclosure Sharks you can go to my website, http://mortgageanswerman.com. There will be a link there you just click on it and pick yourself up a copy and it will help if you are in a foreclosure situation if people come knocking on your door it will help you to at least know what to look out for. So mortgageanswerman.com for The Foreclosure Sharks…

Duration : 0:6:54

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- 4 bedrooms, 1 master (17×14), and 3 guest
- 3 comfort rooms, 1 master, 2 common
- master cr with jucuzzi tub, walk in closet
- laundry room with washer and dryer hook-ups
- computer room, 2 satelite systems
- 2nd floor covered terrace area over looking ocean
- custom built home theater room (30×146)
- house wired for telephone, satelite/cable and dsl
- sliding glass windows
- 4 a/c units, private water well, all steel roofing system
- 393 square meters lot area
- close to highway (200 mtrs), but no highway noise or dust
- 282 square meters (3,058 sq ft) living space
- 53 sq mtr terrace, 30 sqmtr covered
- 3rd floor 43 sq mtr unfinished room – very quiet area
- all exterior walls 6 inch hollow block, cement filled
- all interior walls 4 inch hollow block cement filled
- both ground and elevated slabs portland, 1st class mix.
- 40 minutes to cebu, 25 to tabunok, 10 to shopping at gaisano

Furnishings:
include 2 split units aircon, 2 window units aircon, 1 hot water heater, one 5 burner with oven stove, and one refrigerator.

The main house is 282 sq mtr, terrace covered 30 sq mtr, uncovered 25sq mtr and the 3rd floor storage and laundry area is 27sqmtr+. Thats over 350 sq mtr.

There are no plywood walls in this house. All walls including interior are portland cenent, min 5 inches, 7 inches on outer walls.

The theater is THX certified, and wired for 7.1 surround. The 150 inch screen with curtains will stay with the house. There are two satelite systems which will also stay with the house. Globe land line and DSL is active.

A great place to enjoy quiet, dinner on the terrace overlooking the water and Bohol. No highway noise. Only a short 30 minutes to Cebu.

Duration : 0:5:20

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Duration : 0:9:27

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Located at the Village Green in Bedford, New Hampshire, this home has been meticulously maintained by the original owner. With mature landscaping, and a circular driveway, this home is located on a pond and across from the Village Green, it sits on a private lot with no other buildings nearby.

You really owe it to yourself to see this one of a kind home.

As you enter the home you see gleaming hardwood floors throughout – no shoes have been worn in the house. A circular staircase accented by a lighted skylight above makes you immediately aware of the unique layout of this home.

Solid surface Corian counters are everywhere. The delightful floor plan allows for excellent flow and is ideal for large gatherings.

The wonderful glass porch is drenched in natural light, and features a gas stove. Perfect for a serene afternoon escape.

The formal dining room will no doubt be the focus of many cherished memories with family and friends. A wet bar is convenient when entertaining your guests.

This home offers a convenient first floor master bedroom and bathroom. All bedrooms feature walk in closets – there is plenty of storage.

The second level features 3 additional bedrooms and a full bathroom.

Additional amenities include a security system, a custom floor plan, city water and sewer. The house is wired for a generator, and the generator is included – a great comfort considering the recent storms we’ve experienced. And the basement is 100% dry – the original sump pump was never needed.

All appliances, including the washer and dryer, as well as all window treatments are included. This an extremely rare offering, and the monthly community fee includes all exterior maintenance, landscaping, plowing and shoveling, as well as paint, stain and roofing. Get rid of the mower, the shovel and snowblower and begin to pamper yourself by not lifting a finger – you deserve it!

The finished basement has a 3/4 bath, as well as a den and a bonus room.

An oversized two car garage completes this home.

For a personal tour of this home, call Bill Weidacher at 603.661.7818

Duration : 0:6:46

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Please subscribe both: http://youtube.com/EXOMATRlXTV and backup channel EX”Zero”MATRIXTV: http://youtube.com/EX0MATRIXTV thanks !

What would you do if mico-chipping of the people becomes mandatory and that you are forced to get an rfid-implant. IF NOT, you are NOT allowed to (some blocked later on): access Internet – drive a car – having health insurance -goto library – pay most of the shopping centers – hire a DVD – park a car – accessing certain buildings like hospitals – all government buildings – all big corporation buildings – accessing parks, dunes & sea shore etc. – boarding an airplane – getting a new passport – to buy gasoline – using a phone – using a copy machine – walk in certain government designated “zones” – buying new real estate – getting energy from energy companies – getting water from water companies and the list goes on and on and on in the coming decades !

What would you really do ?

Big Brother Surveillance Society is NOT there to “protect” you, but to protect the NWO Mafia, they know YOU gonna be -Mad as Hell- about their abuse of power !

Hijacked Governments Legalize Corporate Crimes & Criminalizing Real Solutions: Suppressed inventions & Alternative Cures, google “When Healing Becomes a Crime” & “Hemp Revolution”

John

http://wethepeoplewillnotbechipped.com
http://youtube.com/noverichip
http://myspace.com/no_verichip

http://en.wikipedia.org/wiki/IBM_and_the_Holocaust
http://nizkor.org/hweb/people/b/black-edwin/ibm-and-the-holocaust.html
http://thecuttingedgenews.com/index.php?article=11235

IBM and the Holocaustby Edwin Blackis a book documenting the relationship between IBM and the Third Reich. Crown Publishing and a consortium of other leading publishers worldwide published it in 2001 in more than forty countries in fourteen languages.

http://en.wikipedia.org/wiki/Edwin_Black
http://edwinblack.com
http://waragainsttheweak.com

TheAntiTerrorist on Romancing the DATA: http://youtube.com/watch?v=VUvQUXMCNTw

Because it is important to make Goog, Twit, YT, MS and FB work FOR you, not against you, empower yourself by cultivating your privacy.

Information Awareness Office http://tinyurl.com/yglpdov

Carnivore (software)
Federal Bureau of Investigation Ethernet tapping system http://tinyurl.com/ykl7rup

Echelon Corporation
automatic phone tap and conversation recording http://tinyurl.com/ylewgye

Analysis, Dissemination, Visualization, Insight, and Semantic Enhancement (ADVISE) http://tinyurl.com/qfga3h

United States Department of Homeland Security Threat and Vulnerability Testing and Assessment possess the ability to store one quadrillion data entities

The program was officially scrapped in September 2007 after the agency’s internal Inspector General found that pilot testing of the system had been performed using data on real people without required privacy safeguards in place. Right.

In-Q-Tel http://tinyurl.com/yjg3hoj

The Defense Advanced Research Projects Agency (DARPA) http://tinyurl.com/yb26uls

“Hey Google, just what part of ‘Don’t be evil’ are you failing to grasp?” http://tinyurl.com/6bug6t

Data Mining http://tinyurl.com/yf4qdx8

Profiling Practices http://tinyurl.com/yzxkos8

coming right out in the open… now get your own Google Profile http://tinyurl.com/5eb5lm

In 2006, Google bought YouTube for US$1.65 billion in stock.

★★ FAIR USE NOTICE ★★ The material on this channel is provided solely for educational and informational purposes. It may contain copyrighted material, the use of which has not been specifically authorized by the copyright owner. Infringement of copyright is not intended. The material is made available to help educate people about health related issues. It is believed that this constitutes a ‘FAIR USE’ of any such copyrighted material as provided for in Title 17, section 107 of the US Copyright Law. The material is distributed without profit to those who would like to use such material for research and educational purposes. FAIR USE NOTICE The use of the media material found on this channel is protected by the Fair Use Clause of the U.S. Copyright Act of 1976, which allows for the rebroadcast of copyrighted materials for the purposes of commentary, criticism, and education. If you have any issues or claims email me first at john(AT)whynotnews.eu

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