http://www.whistler-realestate.com Got our first ride on the new Peak 2 Peak Gondola between the tops of Whistler and Blackcomb Mountains today. All I can say is WOW! Check out this video!
Duration : 0:7:34
Contact Us:
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!
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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
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
SCENIC VIEWS OF LONDON ONTARIO
http://www.JamesOsmar.com
Training Video Example
London Ontario real estate agent, James Osmar and his team apply his London home selling system in the London Ontario Real Estate market. Selling primarily residential, condominium, multi family and investment property. Relocation services and a referral service for relocation are also a value added for the buyer and seller moving in and out of the London Ontario real estate market.
James has lived in London, Ontario and has been selling real estate there for over two decades and at times has been in the top 100 list for all of Canada with one of the largest sellers of real estate on the planet.
http://RedHotWebPage.com
Duration : 0:3:40
Nampa,Idaho House For Sale, 3 Bedroom + Office, 2 Bath, 3 Car Garage, Upstairs Bonus room, 1849 sq ft on Corner Lot, Built in 2004! AllPro Realty Group, Inc.
Duration : 0:3:30
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
Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 1 (Excerpt)
Shorts Sales & Loan Modifications; Great Alternatives to Foreclosure
Kalyn Roberts and Jeri league, welcome to the program. Jeri and Kalyn are short sale experts and have graciously decided to come to the program to discuss some of the short sale important things that people do need to know, and were going to get to all of this short sale information, but a couple of things important to mortgage interest rates. Today is a fantastic day in the mortgage rate world. Leslie and Staci at Velocity Financial were kind enough to put together a scenario for us so listen to this folks.
This is not the teaser, this is not the loss leader, this is the real deal as of today, a $417,000 loan amount, the interest rate is 4.875%, thats 4.875% that is below 5% obviously, the APR is 4.948% and that is for a no cash out loan, and that is a special rate and we have a certain allotment of loans that were allowed to do at that special rate. If youre interested in talking to a member of my staff or myself or anyone else about that program you would call. There are people there standing by to take your phone call.
Were a local licensed firm and one of the only 15% of the mortgage companies in the state of Arizona that is licensed to do FHA loans as well. Any mortgage related needs that you have were here to help but for the next hour were going to be talking about Short Sales.
Now over the last several months we have been talking about loan modifications on the show a lot, Velocity Financial was one of the first companies to work with a national network of attorneys, a 16 year old firm that were working with. They have done thousands of these loan modifications, and the loan modification industry in Arizona is for the most part unregulated, but you want to make sure youre working with a licensed firm, and you want to make sure youre utilizing an attorney.
You dont want to be giving money to anybody that says they can get you a loan modification, the only money you give is to an attorney, dont be giving money to people who come by and say they can help you out. Youre going to have to be very careful on how you handle that, but interestingly enough the loan modification is for the mortgage side, essentially the loan modification is to the loan officer what a short sale would be to a realtor.
Now the short sale part of real estate is not something you want to trust to somebody starting out doing short sales, unless they are being supervised by a pro, you dont want to mess around with it. This is not a time to be trying it out, this is not a time for people to be using you as their guinea pig, not a good idea at all.
That is why we brought Jeri and Kalyn in and were going to talk about some of the specifics. You definitely want to make sure that if you need to do a loan modification, if youre facing foreclosure or you want to do a short sale, whatever scenario is the better decision for you and your family, you have got to work with a professional, Jeri and Kalyn have extensive experience, they have an unbelievably great success rate.
It doesnt have to take six months to get this done they can execute this thing for you and they are the pros so were going to go through some questions over the next hour, there is just one more thing I want to talk about and that is if a loan modification is something you think you need call the office and we have put together a video for you that you can watch, its very short, it explains the process and we will then get together with you and answer any questions that you have…
Duration : 0:5:36
Listen in as we interview our favorite handyman Dominic Lombardo. For more information feel free to contact me, Lisa Doyle, anytime at 925-890-7443 or email us at ldoyle@rockcliff.com. Also you can check us out on the web at: http://www.thedoyleteam.com or at http://eastbayrealestatetv.com.
Duration : 0:3:42
Listings for Santa Clarita Real Estate by all Real Estate companies, realtors, realty, and all of the current listings that are on the market for sale. Updated several times per hour without any worry about viewing listings that have been off the market. Distributed by Tubemogul.
Duration : 0:3:22