Apr 21
Five people, including a Westchase couple, filed 50 fraudulent Feb 17
Mortgage Short Sale – Realtor Negotiates for Bank Approval – RealEstateMarketingThisweek.com
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http://realestatemarketingthisweek.com/short-sales/in-a-short-sale-make-sure-you-hire-an-expert-negotiator-who-is-a-full-time-real-estate-agent/ – In a Short Sale make sure you hire an expert negotiator who is a full time real estate agent –
Part 5 – If you’re in trouble and you think you want or need to do a loan modification, we work with a national network of attorneys that are here to help your situation, and this show were talking about short sales because a loan modification is not for everyone. A short sale is a great alternative to a loan modification, the reality is if you can do a refinance that is more than likely the best case scenario, if you cant a Loan modification is a great tool, the reality the retainer for the law firm is less than a refinance, but if those arent the options for you, you need to call Jeri and Kalyn here and they are the short sale experts.
Kalyn in the last segment we talked about where people should start the process and the reality of it is youre saying they should start now, right? They should start it now we dont care at this point whether you have a foreclosure date already or if you dont or if you know you need more information about this you need to call us today. Were happy to come over and give you a free consultation, no obligation we will just sit down with you and review your full situation and we will be frank with you and we will be honest and we will help you make the right choice for your financial future. Relieving you of pain or debt or whatever you have going on were the experts and we want you to call us.
Nobody wants to hear false truths or false promises its so easy for people who right now are facing foreclosure, for any number of reasons, its easy for them to bite onto anything that sounds like what they want to hear. The reality of it is they need to hear the truth as harsh as it is and youre going to tell them the truth, and that is your job, youre not going to tell them anything that they dont want to hear. Nobody wins in that case.
If we dont know that we can close it we will not even take it, we will be honest with you. That is so important, again talking to, because every single day I do talk to people who call in from the show and we talk about this, the reality of it is it is not going to do anybody any good if it doesnt work out, or we dont know if its going to work out, or we dont have a really good idea that its going to work out on their behalf, and in the case of a short sale as well as a loan modification this has to be a win-win.
The homeowner that is in this situation they need out and a short sale may be the right option. The lender sure as heck does not want the house back even if they are required to take a loss its a significantly better option for the lender then a foreclosure. Going back to a few minutes ago when you said youre making these calls to India and everything else, I had the opportunity last week to teach a contract writing course at Paradise Valley College, Lynn Phelps the Phd there at Paradise Valley Community College allowed me to teach this finance class and there were several people who were getting their real estate license. Most of the people in the class were thinking that real estate was an 8-5 job.
No, Not even close. I thought it was going to be glamorous. I love it, I do love it but its more of a life choice. Its a lifestyle, I remember when Kalyn was first coming on my team and that is one of the things that is most important to me is that the agents on my team understand real estate is not a career as much as its a life. It really is, you work when other people dont work and you work when they work.
That makes perfect sense and its not the 9-5 job that it might have been in the middle of 2006, and maybe your job isnt very fun in the beginning of September in the middle of the day on Sunday, probably a little hot and sticky out there but now Kalyn you have been in real estate now for about 9 years.
Youre the team leader for the Dream Vesting group and a certified negotiator is that correct. Yes. And you Jeri as well have been in real estate for 9 years. Yes, almost nine years. I am an associate broker so I am excited about that, I took the class almost two years ago and finally decided to take the test and take the plunge.
Well good and that is a great accomplishment and you also have extensive experience in property management is that correct? Not property management, property sales management. I actually ran three different condo projects back in 2006 when it was fun to be a real estate agent. I helped actually with the acquisition of the properties, the development and then the sales, and then ran the sales teams and I ran three real estate offices as well. Very nice so the condo conversions are what you’re talking about back in 2006 in the day right? Yes… http://realestatemarketingthisweek.com
Duration : 0:6:31
Jan 13
This is a film about a man and his wife and daughter who are manipulated into the Church of Scientology, and are torn apart by it, the husband losing his family’s inheritance in the process. This film is real; it’s based off the experience Heiner von Rönn had with the Church of Scientology in Germany. Many instances like this occur regularly within the Church of Scientology. This is the kind of thing many ex-members can relate to. And this isn’t even close to the worst case scenarios the Church of Scientology can bring you; mental breakdowns, lifetime confinment in a psychiatric center, or even death.
Ladies and Gentlemen, the Church of Scientology is a fraud. Although they have an exterior of good intentions, they want nothing more than your money, and will do anything to get it, including tearing your family apart, gathering personal information about you, sending you to their work camps (the torturous Rehabilitation Project Force) for a weekly salary of $24, making you sign billion-year contracts, using methods of mind-control to make you believe that you can’t leave the Church of Scientology, and reducing you to a state of physical exhaustion and mental insanity.
For a brief presentation on the Church of Scientology’s crimes, please watch: http://theunfunnytruth.ytmnd.com/
To see how something like the Church of Scientology can mind-control even the most sane people, please watch: http://www.youtube.com/watch?v=mnNSe5XYp6E
For a story of a someone being mentally reduced to nothing by the Church of Scientology, please read: http://mybillionyearcontract.com/kathryns-story/
For further reading on the Church of Scientology’s fraudulence and crimes, please visit: http://www.xenu.net/ and http://www.xenutv.com
And please send this video to someone else, or watch it with them. Shortened URL to link to this video: http://goo.gl/GylTh
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Dianetics and Scientology are trademarks of the Religious Technology Center. I am not affiliated with the Church of Scientology, the Religious Technology Center, or any of their organizations. I acknowledge this video includes content that is owned or administered by the ARD (Arbeitsgemeinschaft der öffentlich-rechtlichen Rundfunkanstalten der Bundesrepublik Deutschland). I do not intend to infringe any copyright laws by uploading this film, nor do I upload this for personal gain, but instead to raise awareness about what the Church of Scientology does.
If any of you YouTube DMCA staff guys are reading this and considering taking this video down, please take some time to watch the film, click some of the links I posted above, and realize that there is a good cause for having this film available on YouTube; to help inform people about the Church of Scientology’s fraudulence and crimes.
If any of you YouTube DMCA staff guys are here because of a complaint from the Church of Scientology, please do not allow them to hide from us what is fact about their religion; also be aware that they use things like the DMCA and the legal system to destroy opponents, rather than protect their intellectual property. Read further about that here: http://en.wikipedia.org/wiki/Scientology_and_the_legal_system
If anyone is questioning my motives in general, know that I am not opposed to the teachings that are Scientology (some ex-members believe they in fact benefited from these teachings), but I am opposed to the organization that is the Church of Scientology, which commits these crimes. I’ve tried to word this description to clarify this as well.
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“But GFD! Isn’t this film already available on YouTube?”
Yes; Anonymous Hamburg originally uploaded this to YouTube here: http://www.youtube.com/watch?v=0HlG2zZ-B2E I believe they also did the translating and subtitle work within those videos that is also used here, so kudos to them. However, that’s split up into multiple parts, and isn’t in 720p. Anonymous Hamburg’s upload makes everything blurry too; it seems to interpolate between frames or something, which this upload doesn’t. Also, I mostly uploaded this and made this description so that this video can act as a means of introducing someone to the Church of Scientology’s inner workings.
Edit: Dang it YouTube; it didn’t process all of the file correctly. Example: 25:44 it messes up and goes out of sync with the audio.
Duration : 1:30:11
Dec 02
With mounting evidence that top executives at public sector banks accepted bribes to grant large Loans to companies, the CBI has issued notice to 17 corporate groups who allegedly benefitted from the collusion.
Duration : 0:2:43
Oct 25
It starts with a threatening call and it ends with you getting ripped off. A phone scam is targeting victims in Massachusetts.
Duration : 0:2:14
Oct 13
http://www.huffingtonpost.com/rj-eskow/payday-lenders-how-wall-s_b_747536.html
Duration : 0:4:6
Oct 10
A Special Undercover Report on the lies and corruption behind the scene of “bad credit OK” car industry. If you have bad credit, maybe that car is not worth all these trouble …
Duration : 0:2:27
Sep 12
During an interview with Sean Hannity, Michael Moore laments the Mortgage fraud that’s been caused by banks and lenders, and suggesting Hannity is blaming victims of the mortgage crisis for not knowing any better, Moore says it’s “like asking a woman how short was your shirt after you’ve been raped.”
Duration : 0:5:23
Sep 04
Real Estate Financing – FHA Mortgage and First Time Home Buyers – RealEstateMarketingThisWeek.com
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http://realestatemarketingthisweek.com/real-estate/the-old-rules-of-real-estate-financing-no-longer-apply-and-suze-ormond-should-know-that/ – The old rules no longer apply and Suze Ormond should know that. –
Part 7 – We have Dan Havey the author of Real Estates Future in the studio today.
Michael, I was just curious, back when I got into the industry many, many years ago there used to be a rule of thumb that if you were going to refinance you had to lower your interest rate by at least two percent and I know as time went along and products changed that really became unnecessary, but I am just curious in todays mortgage market its a lot different than we were dealing with even two years ago. Is that still true that there is a 2% rule? Whats going on now?
I happened to catch Suze Orman on television and she was talking about mortgages, the caller who called in to the program, the question became I believe similar to what Dan just asked, her comment was that basically if you’re in 6% interest rate or above now is the time to re-fi. That is what she said, a blanket recommendation. I know a lot of people put a lot of credence into what she says, maybe you could speak to that, the lowest interest rates you’ve seen in your career, you have been doing this for a while.
I have, and they are. You know there was a lot of speak the last couple weeks about the Fed, the Fed funds rate by the way is the lowest it’s ever been in history. As of this week the discount rate is to the point that banks are lending money to each other at nothing, the Fed funds rate for intrabank lending is at zero, the problem is the banks don’t have any money.
To be serious about the refinancing, because its a serious topic, I think people are starting to see their mail boxes filled with lots of advertising crap about refinance. I believe that doing the refinance is no different from doing a Loan modification or buying a house, you need to sit down with the human being that’s local, that you can know is a legitimate source. You’re going to give all this personal information about you, your family, your kids, your Social Security number, you want to make sure you have somebody there that you know whos legit.
In regard to the old rule of thumb 2%, nothing could be further from the truth, and I will expand, but to the point of Ms Ormond that if youre at 6% or higher, that is a blanket statement and blanket statements never work. We just did a refinance for a guy who was at 5 1/2%, and it makes sense. Every situation is different, as far as how much do I have to lower my interest rate to make it work? It depends on the type of Mortgage that you get.
The only type of loan to get today in December of 2008 is a 30 year fixed. I know that one of the things that was really interesting to me, and that you and I have referred clients to one another for several years, so we share a number of clients, were familiar with those families and those households, and this is Wednesday, on Monday and Tuesday of this week I’ve had seven phone calls from clients who you’ve already done loans for, refinances for, asking if this is the time to refinance a loan that is only a couple years old.
And I know in several of those cases the answer is yes you’re actually helping families right now with that process. I am and we do. To answer the question, you need to determine what the payback term is, in other words when your refinance is done it’s a new loan, there’s the title insurance, appraisals, lots of different things may need to be done, not in every case, but in most cases there are costs associated with that. The cost has to be offset by the amount of savings. Its a breakeven analysis
Absolutely it is, the shorter the breakeven the better the loan. I am working on a case right now which is going to be done in the next couple of days where the guy lowered his interest rate by an1/8 of a percent and it made sense for him. It’s not for everybody, 2 percent or lower, 2% is significant, now you’re talking about really significant savings in terms of cash flow… http://realestatemarketingthisweek.com
Duration : 0:6:31
Aug 20
Real Estate Financing – Seller paid Closing Costs with Low Down – RealEstateMarketingThisWeek.com
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http://realestatemarketingthisweek.com/real-estate/how-having-the-seller-pay-your-closing-costs-can-quadruple-your-money/ – How having the Seller pay your closing costs can quadruple your money –
Part 2 – On the other hand if you roll that into the Loan it’s going to take you 160 months to break even on that. 160 months which is a little over 13 years, that is the antithesis of the Velocity of Money that we talk about on the show every week, so I am not convinced that its the right deal for the masses, but something that should be considered is what is the opportunity cost of taking the money out of Account X and the type of account you taking it out of has some impact too. If it’s from a brokerage account then you experience the market loss in that account and youre selling at these low price levels, I think the markets are going to turn and the opportunity costs over 160 months, youre talking about a substantial amount of money. And the additional mortgage payment is insignificant.
Obviously no one is going to allow you to pay more than the house is worth, that’s not what were suggesting. What were suggesting is merely to look at instead of simply making a lower offer than you would normally make, I’m suggesting that you consider the closing costs and what the real closing costs are in this example.
Assuming that the house is already attractively priced, one of the things that this buyer in this example should consider instead of making a lowball offer on a house that’s already priced rather attractively in this marketplace, it might make sense to consider exactly what you’re describing now. And that would be take that money or that difference and ask the seller to include those costs as part of the deal to sell the house, versus why lowball offer the house when you already know the house is the right price.
That’s exactly right and one of the other points here is in a lot of cases the closing costs dont need to be quite that high. So there is the opportunity for the home buyer to buy down, for instance, use 1% of the loan amount to buy the interest rate down. I did a calculation here today, the cost of funds changes all the time, in fact we had four price changes today. Four mortgage rate changes today, just in one day. This doesn’t apply in every scenario, but that’s why you use a certified mortgage planner, that’s why they use a FHA certified Mortgage firm to do the loan to make sure that it’s the right thing to do but here’s the example of today. 1%, paying 1 point to buy the interest rate down will lower your mortgage payment, on this example of a $300,000 house, would lower your mortgage payment by $118 a month.
It’s not simple it’s not just like going to your local bank and having them give you a quote on the rate, there is so much more to it these days. I think that one of the things you’re pointing out right now is the fact that this type of negotiating exists and should be considered when making this purchase. And I know that you have already espoused that youre not a realtor in that sense, but your realtor should be talking to you about these options. If they are not, you may want to consider finding one who knows about that stuff.
They absolutely do and I’m not suggesting to anyone that they go out and find another realtor because yours is not working out for you. The reality of it is if your realtor doesn’t believe in the concept it may only be that they just don’t understand the concept. Have them give us a call, we can explain it to them. And I have simple illustrations we can share with them, how we would structure it financially, and they can, the realtor can set the price. That’s what their job is, but what our job is to make sure that you use every penny available to you to the best of your ability.
I have a question for you Brett, if you took $9000 and didnt take it out of your savings, 401K, or whatever, what will it turn into with today’s market? What would that be like?
Depending on the way the money is allocated, invested in a fixed income investment, or an interest-bearing account in a bank or whatever, what I can tell you is over the same amount of time, that $9000, over 160 months, youre probably talking about quadrupling the money. I would say that that is relatively easy and I’m not talking about taking on significant stock market risk. What I’m talking about is just compounding interest in some kind of interest-bearing account. I mean it could be a bank CD.
The other thing to do is we have this book called the Short Sale Playbook written by Ron Quinterro that we have available to anyone who is interested in it… http://realestatemarketingthisweek.com
Duration : 0:6:12