www.ReNewsYouCanUse.com A really bad community makes a 180 degree change after a golf course and a few other changes are made! A baskeball star helps market a home and web 2.0 hits the real estate industry HARD!
Duration : 0:9:58
Home Loan Modifications Negotiated by Licensed Attorneys. Real Estate & Mortgage Laws and Guidelines are Complex. Beware of the Banks Loss Mitigation Department. Go To http://RealEstateMarketingThisWeek.com
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
Amidst the Real Estate & Mortgage Meltdown; Foreclosure Fraud & Scams; Real Estates Future is Great. First Time Home Buyers, FHA Loans & Seller Paid Closing Costs. Go To http://RealEstateMarketingThisWeek.com
Part 5 (Excerpt)
CDOs and the disgraceful actions of the Bond Rating Agencies
We just talked about the process regarding your mortgage lender and having standing, which is a legal term, which was a little complicated Dan. I’m not going to lie to you. That is why all the information is on the website, http://MortgageAnswerman.com And you can also go to VelocityFinancial.com. There is a link there to Dan’s website.
Dan is talking about breaking these mortgages down and eventually selling them off to Bangladesh in different tranches. Some of the servicers are actually in India, of all places. If you have a mortgage that you’re having trouble with and you need to call somebody to get help, you are actually calling India to talk to somebody about your mortgage here in Phoenix. I dont really know why, but none the less, Brett, you wanted to address this from a financial advisor standpoint
Yes, I am pretty immersed in this because what Dan was describing in these collateralized debt obligations, CDOs, CMOs etcetera, does get a little complex. I think I can clarify it a bit as you may feel that this doesnt apply to me, is this something I should consider in my own strategy. It works like this, this is true for most people who took out a mortgage in the last couple of years, you start your mortgage and get your payment book, and you are writing a check to Bank A, and then you get a notice maybe 30, 45 or 60 days into this loan that says thank you for your business you are now writing your checks to Bank XYZ, your payment to Bank XYZ. That is exactly what was happening.
When you slice the loans up this way, and you get it spun off.
Wall Street wanted their piece of profitability right? The mortgage industry was running rampant in terms of profitability. And so Wall Street says hey I want a piece of that and I know how we can do it we can sell mortgage backed securities, asset backed securities. Well theyre safe, that’s the way Wall Street was selling these to the investing public. Yeah theyre safe as long as housing values keep going up 15% a year, which is completely unrealistic.
It’s an asset class just like any other asset class. Its cyclical, what goes up does come down in any investment asset class. So people wanted to put the blinders on, they paid no attention to that. As property values declined and all of these Wall Street Firms that are today bankrupt and are no longer in business, they were leveraging that debt, meaning they were borrowing more money to buy more debt.
So for this collapse, what is it all about, how does it affect you, the individual. How does it impact you the mortgage holder, it impacts you by saying does this strategy makes sense, should I refinance, can I get a better rate or should I look at a loan modification option. That’s the simple answer.
You go to the website and you do your due diligence then you call the guys at Velocity, the team at Velocity and you start working through the process, because I can tell you this from a financial advisory perspective. Its all about efficiency; investment efficiency, tax efficiency, and interest rate efficiency. All these things are combined, and that is how you win the financial game, that’s how you stay ahead of the recession. That is how you create your own Velocity of Money, you have got to make the call. We have to look at these efficiencies.
So you’ve got all the way down to where the money is broken down. Dan explained it on a technical level. You kind of broke it down a little bit more that we actually got to the point of the CDO? Actually explained what the CDO represents?
Well yes, we did, the CDO is a whole bunch of mortgages that a rating firm decided all had the same credit class. Well let me ask you a question, I have heard a lot of buzz about these rating firms not having a standard
Duration : 0:6:51
Collier Swecker video blogs about how the best marketing in the world can very rarely overcome an overpriced home listing. Collier discusses the situation where Birmingham AL home sellers face when they overprice their home for sale but demand world class marketing of their home. These sellers more often than not are perplexed why the marketing of the home is not working. They often blame the Realtors for not getting their home out to the masses but do not want to consider the fact that their Realtor may be marketing their home like a rockstar but no buyers are wanting to see their home because they have chosen to price the home out of the market. The morale of this story is that overpriced listing NEVER sell! The Mega Agent Real Estate Team has one of the best marketing programs of all real estate agent teams in the Birmingham area and even we cannot overcome a listing that is priced too high.
Duration : 0:2:44
Discover how to set goals based on Biblical principles all for Christian Real Estate Investors. The is part 2 of a 2 part series.
Duration : 0:6:21
Weekly Real Estate Agent “speak” online workshops that are easy to follow, understand and put to use. No tech talk here. In 55 minutes on these LIVE webinars we provide the how to, where to and what to do to help buyers and renters match the words (aka, keywords) in your Listings on the Internet. When you both match up, you and your listings will be found on Google, Craigslist and all over the Internet. When you are on Page 1 search results with a buyer or renter, the chances for a click through to you and a Lead are huge. These FREE webinars have helped agents to be found on Page 1 of Google fast. The web presence the creates and builds on is demanded by sellers and REO Asset Managers to get the listings. With this Exposure, Agents sell properties.
Duration : 0:1:46
Realtors Agents need help with SEO marketing listings of homes, condos, land, rentals or any property for sale or rent. Get low cost quality Search Engine Optimized marketing for YOU and your seller so buyers and renters can find you in a Google, Yahoo, Bing or anywhere they search for the real estate they want. PropertyNut will teach you to select the right words that a buy or renter uses to find your listing, or we’ll do it all for you. Very affordable, low cost and highly effective in getting leads and sales so you get more commission checks. Find out more now.
Duration : 0:2:9
Produced, Filmed, & Edited by Modulation Studios.
Christian Tapia of Exit Shore Realty is almost $500k in debt because of investing in an upscale-home right as the real estate market went south. Will he be able to sell the house in today’s market?
Real World Real Estate is a reality/documentary show about how a young real estate agency is dealing with the current market. This is NOT a show featuring the rich looking for 5 million dollar homes, it is real stories from those who are going through foreclosure, bankruptcy, first time home buying, event planning, etc.
Features The Exit Shore Realty/The Roop Group of Salisbury, Maryland. Filmed in Somerset, Wicomico, & Worcester County.
Produced by Adam Durham Productions & Modulation Studios: modulationstudios@gmail.com
Special Thanks in this episode to the realtors who attended the open house.
NOTE: This episode was filmed on private property and all those interviewed on camera verbally consented to appear.
Exit Shore Realty The Roop Group Adam Roop Real Estate Marketing Business Salisbury Crisfield Ocean City Bankrupt Foreclosure Short Sale Money Investments Gone Wrong Delmarva Salisbury Real Estate Driving Reality Show Documentary Docudrama Open House Market No-Spin Season Bridal Show Houses Management Property Management Mansion Downtown Mainstreet Event Fair Entrepreneur Community Conference Conventions
©2009, Modulation Studios
Duration : 0:8:7
In part 3 of 8 (Solving the Square Footage Puzzle), we’ll talk about the magic formula, price-per-square-foot and what it means to the valuation of all residential real estate. CMA’s, appraisals, etc. are all affected by this simple calculation.
Duration : 0:2:26
http://www.WhatcomInvestmentProperty.com has access to the best wholesale investment property bargains throughout Whatcom & Skagit County. We spend our time marketing and finding discount real estate all over Bellingham, Blaine, Ferndale, Lynden, Burlington & Mount Vernon Washington.
If youre a real estate investor looking to buy the best property deals, did you know that many of the best deals never even make it to the Realtors MLS system? Sign up for our VIP email notification list and let http://www.WhatcomInvestmentProperty.com find the real estate deals in Washington for you; we are real estate investors serious about getting you the best wholesale discount properties, and we have tons of deals that never even make it onto the MLS
Many people ask us, why are all of these great discount, below market value investment properties in Whatcom County not found on the MLS? The answer is simple: we work directly with the sellers of these properties, many of whom dont want to work with a realtor, have to wait for a traditional buyer, and just want a fast, private closing on their real estate deals.
If you want to buy homes, houses, property, condos, apartment buildings, duplexes, triplexes, fourplexes, raw land or townhouses or townhomes at wholesale prices then you need to go to http://www.WhatcomInvestmentProperty.com and join the VIP notification buyers list. In addition to getting priority VIP email notification of every single wholesale discount bargain property we have for sale in Blaine, Bellingham, Ferndale, Lynden, Burlington & Mount Vernon, you will also get free access to a series of 20 videos about investing in real estate in Whatcom & Skagit County.
By registering at http://www.WhatcomInvestmentProperty.com you will get access to a full range of wholesale discount properties across all of Whatcom County, Skagit County, and many times beyond that and into Snohomish County, King County, and many other parts of Washington state.
Join http://www.WhatcomInvestmentProperty.com so you can get priority email notification for every type of property and real estate investment deals that we find all over Whatcom & Skagit Counties in Washington, and make big profits in real estate as a real estate investor. You also get free access to our Special Report titled How To Buy Investment Property The RIGHT Way.
Duration : 0:2:17