Who Will Help The American Taxpayer Avoid Foreclosure?
This week so Wall Street marked the first time in America’s history that we see no one is there to help the American taxpayer. I can remember law school and going over a case one time that an American taxpayer was referred to as an “ ordinary taxpayer”. This shocked me then and it still shocks me now. The American taxpayer is central to the operation of government, the free enterprise system, the real estate markets, interstate commerce, intrastate commerce, and in fact drive the engine of the biggest economy in the world.
A severe paradigm shift is going on right now in United States. The world is watching as the United States government continues to bailout major corporations, money center banks, and insurance companies that have tried to game the system and lost. Essentially, what is happening is profits have been privatized and losses have been socialized via the United States government buying into major corporations and banks with equity stakes that are essentially free money to the corporations and banks. We have certainly begun the era of the socialization of major corporations in United States. So much for a free market economy, solving all of our ills.
Where is Larry Kudlow? He was always so eloquent in speaking about the United States free market economy, which was the envy of the world. Republicans spoke about the need for markets to regulate themselves and pull the wool over our eyes, as corporations like Halliburton, Bear Stearns, J.P. Morgan, and Lehman Brothers made obscene profits, which were distributed to shareholders directors and CEOs, while ordinary Americans saw jobs outsourced to countries like India and the Philippines. It was only of time before the effects would be felt by the American economy and the American people as results of this large outsourcing of jobs over the last 20 years. The chicken has indeed come home to roost.
What is to be done now? Are the ordinary taxpayers, fed up enough to throw out their congressmen and senators? Are they fed up enough to prevent a 27 year Republican Senator from becoming president? Are the ordinary taxpayers in United States fed up enough? We’ll find out in about 20 days. What needs to be done now, however, is a massive overhaul of the financial system in United States. That is occurring as we speak via the stock markets, dramatic decrease over the last two months. What that means for you, the average homeowner is that you must try to sell your home in a declining market, where you almost certainly lose money. All is not lost. You can go to companies like http://www.cantsellmyhome.com/ and sell your home to them. So you can get out of your mortgage and save your credit. In fact, Congress has passed legislation that will enable you to take a loss on your home and not have to pay extra taxes on that loss. This was not the case in 2007 2006 or 2005. So while you may lose your home, you will still have the ability to save your credit and perhaps salvage your dignity going forward.
When you go to http://www.cantsellmyhome.com/ on speaking with someone within two hours of your submission. You’ll get an accurate assessment of how they can help sell your home fast. They have a nationwide network of investors, real estate agents, lawyers, and CPAs, who can help you accomplish your goal. Now to be sure, you have to be open-minded. We are in a worldwide financial crisis, which calls for creative solutions between all parties in order to make your home sale goes through smoothly and without a hitch. Even when you think everything is smooth however, there may be a problem lurking in the background that you’ll never see until you have gone forward in substantial way with your home sale transaction. Don’t be afraid. They will walk you through everything, because they’ve been there many times before.
So as the election nears, and the financial crisis worsens, if you need to sell your home fast and stop the headaches of rising interest rates, perhaps a vacant home that you can’t rent, or you just tired of the headaches, visit http://www.cantsellmyhome.com/ to assess your situation. The web page is very basic but efffective. Just fill out the form and you’ll be on your way to solving your problem even if the United States government won’t help you.
I hope this is hopeful. Let’s work towards friction your problem and making life better for you and your family. God bless you and your family.
where-everyday-us-costs-are-cheapest-and-priciest
http://realestate.yahoo.com/promo/where-everyday-us-costs-are-cheapest-and-priciest.html
Hey, here’s a link to the lowest cost areas to live in the United States. This could be critical to someone who has just lost their home to foreclosure and is seeking to move to a lower cost state or city.
Be advised that this information is not endorsed by me nor have I researched the cities and states that have been recommended. I offer the above website as a possible starting point for research.
Also check www.cantsellmyhome.com if you’re having a problem selling your home.
Good luck!!
New Source for up to $2,000,000 loans for real estate agents, mortgage brokers and real estate investors – hard easy two 2 million loans no seasoning money high ltv
Loans for up to $2,000,000 to buy real estate available. This is a new source and is easier to qualify for than the $10,500,000 loan packages that some of you have contacted me about.
You will need two years of real estate experience. In addition, if you are a “real estate dealer” that may actually help you seal the deal!
You can use this loan to buy properties at low loan to value and resell them within 6 months. Rates are very good and will generally support the debt service on the property.
Qualifying isn’t incredibly hard, however, you must be realistic. After all, this IS a multi-million dollar loan!!!
This loan was found via a personal relationship that I established about five years ago! Speaks volumes about networking!
Help is on the way!
God Bless!
STOP FORECLOSURE ! SELL YOUR HOME FAST!
Hello friends,
This week activity in the financial markets was shocking. The Federal Reserve and the Department of treasury are handing out approximately $200 billion per day to the money center banks in the United States. This is fine, if the government feels this will actually help the economy. But the average observer like myself needs to look at this with a very skeptical eye. After all, the United States government has continued to tell us that our country cannot afford health care for every American citizen. Yet, about $3 trillion has been spent already on government bailouts of corporations that have mishandled their financial affairs and some cases may have been fraudulent. So what’s really at hand here.
I really have to think that the United States government is simply in existence to help major corporations and major banks that are headquartered in the United States. They really is no other reasonable alternative. After all, there has been no substantial bailout of individual homeowners in United States. Not don’t get me wrong, some homeowners are at fault themselves for Conti on risky mortgages and mortgage interest rates that had almost no ceiling as they continue to adjust upwards. But big banks and financial institutions have been rescued again and again. We even see Hank Paulson, calling a meeting with worldwide bankers in an attempt to halt the mortgage crisis. So why is the government so aggressive in while leaving nothing on the table for the average American family. The backdrop here is that unemployment is at a seven-year high and by all accounts will continue to skyrocket as 2009 approaches. Yes, it seems the a global meltdown is upon us with no help inside to the individual homeowner, American families, or American workers.
Should we be mad as hell? Absolutely. But who should you be mad at? Is a Congress for allowing Fannie Mae and Freddie Mac, almost unfettered discretion in the types of loan products, but they purchase, thus allowing the financial markets to become overly aggressive with 100% financing and no money down products? Or maybe you should be upset at Fannie Mae and Freddie Mac themselves for not having the wherewithal to regulate their own conduct. Given the fact that they are government-sponsored entities, a kind of quasi corporation, they should have been looking out for the American people. But obviously weren’t.
So where does that leave you and I?
Well, if you’re one of the people, who is about to lose her home, but I’ll suggest a couple of things to you. First, if you miss the mortgage payment, contact your mortgage company immediately. As I said before, there is no one to help you. You are absolutely on your own. Speak your mortgage company and let the know the situation. Perhaps they will work with you on a payment plan, or some type of recapitalization to help you save your home.
Now, what if you can’t save your home by talking with the mortgage company and you already late by two or three months with your payments. I would suggest going to a web site such as www.cantsavemyhome.com
At least there you’ll have some hope. With Bush or McCain, there is no hope at all. That is painfully clear. Be sure to vote!!! Our economy depends on it!
HOW TO RENEGOTIATE MORTGAGE IN BANKRUPTCY
The first thing to remember when you’re trying to renegotiate your mortgage is that you’re bargaining power is somewhat decreased. If you have missed payments or in some way are in default on your mortgage it helps to be able to explain exactly why you have been late or are in default. Good reasons include medical bills, increased adjustable interest rate, paying two mortgages, or being transferred to another location for your job. If you’re paying two mortgages that may get the lender’s attention, because many people were in foreclosure these days have the same situation. That is part of a risk profile that lenders are now looking for to deny current applicants who wish to purchase homes a mortgage.
Of course it’s not your fault, if you were transferred through no fault of your own to another job. However, the fact you’ll be paying two mortgages definitely increases your risk of default on your previous primary residence. With all of this said, speak to the loss mitigation division the bank. That is currently holding your mortgage. The other ones who can deal with you directly and find a solution. They are actually a different options that you have when you are in default. You can find out on my blog as well.
I’ll write more on renegotiating your mortgage early next week. We negotiate in your mortgage when you’re in bankruptcy is especially tough, but it can be done. Speaking with you a bankruptcy trustee will be critical to renegotiating your mortgage. Of course, I’m sure you know that you don’t need a lawyer to file bankruptcy. And if you don’t have money to pay mortgage. Then you definitely don’t have money to pay a lawyer.
I’ll write more next week after a researching give you an update. God bless
WHAT’S YOUR CLOSING RATIO? REAL ESTATE AGENTS? MORTGAGE BROKERS AND LOAN OFFICERS?
Dang! Here we go again!
George Bush and the United States Congress are changing things again. And you better believe that the U.S. economy is going to get worse. First the congress bails out most every bank by allowing them to continue to borrow money at ultra cheap rates from the “federal reserve window”. (You need to google that!) And then the government bails out Bear Sterns, then J. P. Morgan, then allows Countrywide to do a sweet deal with Bank of America. I’m getting kind of tired of all of this……… but we should have know. Big banks
I want you to keep your powder dry! But keep a good aim at the target!
The mortgage crisis is about to get worse and it’s going to start on October 2, 2008 and last until at least June 2009. How do you handle this if you are a real estate agent, real estate broker, mortgage broker, or mortgage lender? Well, the key is that you’ve got to have pre-qualified prospects. People who are ready for the service that you offer!
Think about this for a moment……
I went to an all you can eat lobster fest last night. If was a fundraiser, so I felt OK with paying the $100 each for all five of us to attend. I ate like a crazed fool as did my kids! Two hours after we started, we were finished and fully stuffed!! I do mean FULLY stuffed. I didn’t want ice cream or the german chocolate cake which was complimentary….it just wouldn’t fit in my tummy!!! 
Now as we were all walking to my truck, if YOU had walke up to us with a great deal on “All We Can Eat Crabs” at a restarant in the city which lasted until midnight……do you think we would accept your offer? Of course not! We were all STUFFED TO THE GILLS! We wouldn’t have paid any amount of money to eat more food after we were finished cracking all those lobsters!!! We had no capacity for more food. Your offer was useless to us.
And so it is during this mortgage crisis. If you don’t concentrate on finding people who haven’t eaten yet, you’ll never survive!!! Now the real question is how do you go about doing this?
First there are lots of ways to help yourself during this mortgage and financial crisis. Here are three of them….
- Get more customers – hard to do in a worldwide economic crisis
- Sell more to your current customers that walk into the store every day…..but no one’s coming in the door – this may be tough as well
- Close more of the current present potential customers you speak with…. THIS IS REALISTIC!
Now that I have your attention, I’ve got to ask you…..what is your closing ratio? Heck, some of you may ask “what IS a closing ratio”?
A closing ration is a the number of people you talk to divided by the number of actual sales made.
- example: I spoke with 30 mortgage brokers yesterday and closed three of them on the purchase of the leads that I sell. That’s a 10% closing ratio.
Why is knowing your closing ratio important? Because now you can make projections in your business plan which will enable you to actually compute how many contacts you’ll need to make to earn the income that you want (or need).
For intance, if you’re a mortgage broker and you want to earn a minimum of $200,000 by the end of 2008, you can actually compute how many contacts you need to speak with to get to that level of income. And YES, you can use that calculator you have to compute more than just PITI !!!
Here we go with the calculations…..
You know that if you speak with 100 qualified prospects you’ll get a 1003 from 10 of them. Those 100 prospects need to be ready to do busines with someone who offers them great service, competetive rate and a smooth closing. (By the way, don’t deal with rate shopping – being the lowest rate provider WILL NOT get you to $200,000 by 12-31-2008.)
So for every 100 people, you get a 1003 from 10. You need to be willing to do the tough work to find the homebuyers that are actually ready to buy NOW. That’s a major piece of this puzzle. You can never underestimate the value of a potential homeowner who is ready to get a mortgage NOW.
Of the 10 apps, 2 will close. That’s a 2% closing ratio. You spoke with 100 good potential clients and closed 2. Now if you get 1 point per loan and each loan is $200,000, then you’ve earned $4000.00 BEFORE expenses. Since you’re not the type of mortgage broker that meets people in the local coffee shop, so you’ve got office rent, internet, a mortgage processor, a sophisticated phone system, and other accoutrements of the business. So that $4000.00 may sound good to the average Joe, but it doesn’t even allow you to be able to pay your monthly expenses.
In order to earn $200,000 by the end of the year, you need to earn $33,333 per month this month and every month until the end of the year!!! Lets just make it a round number and aim for $40,000 per month! You’ve got to increase your $4000 to $40,000! That means increasing everything by a factor of 10.
- example: $4000 x 10 = $40,000 per month
- 100 good potential borrowers x10 = 1000 good potential borrowers per month
- Number of applications written based on 1000 potential borrowers ……. 100
- 2% Closing ratio can stay the same (for now) equals 20
- $200,000 average loan amount can stay the same (for now)
- Of the 100 apps you close 20 with $2000 revenue each for $40,000 monthly revenue
- This is all a game……you MUST work these numbers to be able to increase your revenue.
So that is how you increase your income in not just the mortgage business, but any business. Find out your closing ratio and use that percentage to “back into” how much money you want to earn.
Don’t deviate from what you’ve read above. I’m sure you’ve NEVER had someone break it down to you like this. But this is essentially the same formula Bank of America uses in their marketing plans.
Sounds easy, but it’s not for most people because you’re tied up doing the tasks that are unimportant and doing other “busy work” so you can FEEL like they’re in business.
Get free complimentary leads to call this month to get your 1000 great propects. Send me a message and I’ll call!
Carpe Diem!
The Economy Continues to Slide – Homesales Continue to Slow
Well, President Bush has done it again!
Abou three months ago he proclaimed that the economy wasn’t in recession but WAS in a “slowdown”. Three cheers for the Yale education you’ve got Mr. President!!! You’ve talked the economy into a real mess…..not to mention the war in Iraq and the lies you and your administration told to get us to to believe that Iraq was somehow related to 9/11. Seems like everyone has forgotten about all of that. Well, so much for my political ramblings……
We’re here to talk about real estate and the state of the market. To say the least things aren’t looking good at all. Congress needs for the July 4 parade without passing legislation to help homeowners and solve the foreclosure crisis. What the hell are they thinking? This is truly the time to hold Congressman accountable for their lack of action. The economy is a meltdown and what do they do? They help bail out big banks like Bear Stearns and at Lehman Brothers, before they help out regular everyday homeowners. Meanwhile gas prices are about four dollars a gallon and olio is ready to hit $150 a barrel! That’s right $150 a barrel! The economy is really in a down slide and what do the legislators do? They go home, eat hot dogs and hamburgers, and continue to do nothing.
Who will help the American taxpayer?
It’s hard to remember a time in the last 20 or 30 years that parallels the economic times that were currently having. The only time thing that comes to mind is Jimmy Carter’s presidency and how he failed so miserably regarding the gas crisis. Interest rates were high gas prices were rising but I don’t remember home prices deteriorating like we’re seeing now. Make no mistake the foreclosure crisis is probably the single biggest event in our lifetimes that will have a profound impact on how the future. Just how long will it take us to get out of this housing crisis? What new laws and legislation will be put in place to assure that big banks and mortgage companies don’t continue to peddle fraudulent loan products to consumers? Perhaps fraudulent is too strong a word for some of you. However, in my opinion, the mortgage companies and big banks knew, or should have known, that these mortgage products would blow up in the face of most ordinary consumers who were faced with an inordinately high interest rates on mortgages after the interest rate adjustments started. Our homeowners at fault? Sure, homeowners probably have some fault given the fact that almost no one reads the fine print on the mortgage when you’re in the lore is office and ready to sign on the bottom line to get the keys to your new home. When the lawyer handed you your paperwork while in his office and ask you to sign right here, did you ask him what you were signing? Do you yourself read every word on the printed pages that you were signing to be assured that you weren’t giving the state custody of your children by signing the paperwork? I don’t know one person other than the mortgage broker who reads mortgage paperwork before signing. Hopefully that will change.
What can be done realistically right now to stop the foreclosure crisis? Well the government could come in and pass legislation to literally rewrite the loan terms of every mortgage that is currently in foreclosure. Though that wouldn’t help everyone and probably shouldn’t help everyone since there are many investors that have mortgages and those investors don’t have the same interest in a property that they homeowner who actually lives in it has. The homeowner simply wants to build a home for their family the investor wants to make money. The investor is supposed to be of a higher knowledge and skill. So if she doesn’t read or mortgage and gets bitten by higher adjustable rates, I’m not sure we should help her. But if a regular homeowner gets bitten by the same higher adjustable rates, we definitely should do something to come to his rescue, especially when it becomes a nationwide problem as it is right now.
Hopefully Congress will see fit to actually pass legislation that helps homeowners. You don’t see Congress putting together a grand scheme of lies, bringing Colin Powell on the stage with elaborate slide shows and graphs indicating the depth of the mortgage problem. There is no media campaign to rally public sentiment against the big banks who, in many cases have fraudulently stolen the homes of tens of thousands of families. It’s funny how we can put together a major media campaign to link Iraq and Saddam Hussein to the 911 attack, but we can’t launch a major media campaign to bring the same $300 billion to assist American homeowners.
For a moment while writing this I almost forgot that I was living in the United States. What a country.
Just Another 14% Drop in Home Prices….Largest in 17 Years…..Nothing Major? Or is it?
Look at this report from the Associated Press…..
U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.
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Standard & Poor’s/Case-Shiller said its national home price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988. The quarterly index covers all nine U.S. Census divisions.
Prices nationwide are at levels not seen since the third quarter of 2004, according to Maureen Maitland, a S&P vice president. However, the index is still up 60 percent versus 2000.
Two narrower indices set record declines in March versus the previous year. The 20-city index tumbled 14.4 percent, the lowest since that index was started in 2001. The 10-city index plunged 15.3 percent, a record in its 20-year history.
“There are very few silver linings that one can see in the data. Most of the nation appears to remain on a downward path,” said David Blitzer, chairman of S&P’s index committee.
Nineteen of the 20 metro areas reported annual declines, with 15 of them posting record lows. Six metro areas lost more than 20 percent.
Las Vegas had the worst performance in March, falling 25.9 percent from a year earlier, followed by Miami and Phoenix. Only Charlotte, N.C., stayed above water, gaining less than 1 percent over the previous year.
Last week, the Office of Federal Housing Enterprise Oversight said home prices fell 3.1 percent in the first quarter, the largest drop in its 17-year history and only the second quarter of price declines recorded.
The OFHEO index is narrower in scope and is calculated using mortgages of $417,000 or less that are bought or backed by Fannie Mae or Freddie Mac. That excludes properties bought with some of the riskier types of home loans.
NEED TO SELL YOUR HOME FAST? Go to http://www.cantsellmyhome.com/index2.html right now. Operators are standing by.
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$10,500,000 LOANS AVAILABLE TO REAL ESTATE AGENTS, BROKERS, LOAN OFFICERS AND MORTGAGE LENDERS
Could you use a large loan to purchase sell hundreds of parcels of residential real estate? Would you like to expand your current large loan to include more inventory?
I have the source for you.
Just so you know, I was the guy that found a specialized type of Boeing jet for a small country that didn’t have the US resources to locate the buyer and negotiate with them directly. That was 2003! I’ve been sourcing helpful items to business people ever since.
Now to be sure, you don’t have to listen to me at all. But one thing is clear. There is a real estate situation going on in the United States that primed and ready for persons who have the capital to take advantage of it. It’s not just happening in Austin. It’s nationwide and in some cases in other countries.
I’ll give you the name of the company who offers this credit line and show you how to approach them. I’ve called them and researched them since 2003. I can tell you that if you approached them in 2003 you would have been doing so too early. If you talked to them in 2004 you would have still been too early. Why? Because only recently has this small company started to lend large dollars to people like you with experience in real estate. if you have experience with real estate it’s a plus. But you can also assemble a team and still qualify if you have no experience in real estate personally. You’ve got to think outside the box.
Now if you’re a new investor who has no knowledge at all about real estate, then this opportunity isn’t for you.
But if you’re someone who has been displaced by your mortgage company or real estate agency, then you really DO need to take notice. It’s YOU who understands that mortgage money for investors at good rates just isn’t available. And it’s YOU who knows that if there isn’t any money available for real estate investors then prices will go down and the opportunity to purchase bargain properties is increased significantly!
Now what I can tell you is that I’m so confident that you will be able work towards getting the loan funding that I am willing to finance a portion of my fee. In addition, I’m only giving this information to three persons in Texas. One in Austin, one in Houston and one in Dallas. That way you’ll have total control of your local market. Heck, you may even be able to joint venture with companies in other states and get paid a 10% fee for doing that. A 10% fee on $10,500,000 makes you a millionaire. You get paid $1,050,000 for just being a middleman (or woman).
Now this type of money doesn’t come cheap, but it’s not expensive either. My fee is $100,000. Now don’t worry, I don’t charge that large fee up front. I get the wide majority of that fee only after you have the loan and are starting to do business. In other words, I help finance your startup.
Does that sound fair enough?
Yes, it’s that simple.
If you, or someone you know, have an interest, post a comment to this blog and make sure to include your email address. I check the blog every few days. I’ll see your posting and will email you asap.
By the way, television commercials are included to help you start out. You’ll get some 30 minute spots and some 30 second spots. They will give you the ability to put the “as seen on TV” line on your business cards and other advertising. Those four words are POWERFUL and you need them to rise above your competition in the eyes of prospects.
I’ll look forward to speaking with you.
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