Experian Deletes A UNPAID $3,540 Collection In 13 Days! If you have questions, please feel free to email me @ goodcreditllc@gmail.com
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http://realestatemarketingthisweek.com – Foreclosure Rescue Scams and How to Protect Yourself –
Part 7 – The Foreclosure Sharks, you have written this book or I think it’s called a white paper. Free report whatever you want to call it its packed full of really good and interesting information. It’s called The Foreclosure Sharks – A look at the rampant theft of Americans homes through foreclosure rescue scams.
And folks I have to tell you I think we’re going to spend the next week, the majority of the show talking about what the heck is going on out there. And what you need to do to protect yourself in case you should happen to be against this problem. You really need to know what your options are. This free report is available online at http://Mortgageanswerman.com. You have got to get this. The information is really good, and one of the taglines that you have here Dan is, Theres blood in the water and the sharks can smell it.
Right. What made me actually write this was a number of years ago I had been working with people in foreclosure for years, and it was just a way to let them know what was going to be going on once the foreclosure was filed against them. Now in many cases, these people were already experiencing what was going on.
And again I’ve recently had a friend or two go through foreclosure and I had them collect all of the paperwork that they got from all of the foreclosure guys out there trying to help them sell their house or do whatever it was, and I was surprised at how thin the stack was. This one gal in particular, lives in Scottsdale in a very nice house and she didnt have more than maybe 6 letters. In the past, a couple of years ago, especially at the peak of the market, when somebody was in a foreclosure situation they would have seriously a stack 6 inches thick.
People would be knocking on their door 24 hours a day, calling them, dropping off stuff. There were cars driving by all the time and it really got to be a nuisance. And frankly I think it hurt the home owner and their standing in a neighborhood, with all of that traffic and of course everybody knew that they were having problems. So that is why the report was originally written and why I wanted to talk about it today because of all the foreclosures going on in the market right now.
Now let me ask you a question, you are saying that two years ago if I were in a foreclosure my mail box would be chock-full of marketing products. Youre telling me now that there is virtually none?
Well I think that part of it is that back then there was financing available to be able to come in and refinance the people. I certainly myself did dozens of loans, at least, to bail people out of bankruptcies and foreclosures, and also people had equity back then. Property values were continuing to go up. I forget how many scams I pointed out here in the book, I think there are 18 or something in here, and most of them are essentially people attempting to get your house away from you, either refinance it, sell it for you, take a lease option, there are all kinds of different scams involved, but I think the reason we see so much less of it today is because there is so much less equity. So if you are upside down by $300,000 in your house, i dont care how good of a scammer you are, you are not going to make a lot of money off that.
But there are a couple of scams going on right now that I want to talk about because there are a couple of things that happened just recently that harkened me back to when I first got started in real estate here in Arizona in the late 1980s. I was selling repos for Fannie Mae, Countrywide, and the Resolution Trust Corporation, which was in charge of selling off all of the real estate owned for the 1,800 or so Savings and Loans that failed in the late 1980s early 1990s. There were so many scams going on then, I mean we had just tons of vacant houses we were selling, and one of the big scams that I thought was actually being perpetrated on a friend of mine the other day is a little something known as rent skimming… http://realestatemarketingthisweek.com
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http://getcredithealthy.com
877 850 3444 ext 1
The economy has forced a lot of people to run up credit cards and miss payments, and that can ruin your credit score. But in tonight’s Money Monday, we’re showing you how to raise that score back up. Here’s 7’s Lynn Martinez.
WSVN — Roland Poitevien had several credit cards, and before he knew it, he was $10,000 in debt and started missing payments.
Roland Poitevien: “I was trying to get Loans for school, and I was getting denied because of my bad credit.”
Roland’s credit score was a low 510, making him a bad risk for lenders.
Roland Poitevien: “I didn’t know how I could let it get so low.”
Nicolas Brocherie also had bad credit, but in his case, it was inaccurate information on his credit report bringing his score down.
Nicolas Brocherie: “I felt betrayed, because I always pay everything on time.”
Elizabeth Karwowski, Get Credit Healthy: “The good news is that everyone can get back to credit health.”
Elizabeth Karwowski of Get Credit Healthy helped both men get their credit back on track. She says there are several things you can do to repair your own credit.
Elizabeth Karwowski: “There is work involved in doing it, so it doesn’t just happen overnight. It can take three months, four months, six months. I have a few clients that are with us for nine months.”
First, review your credit report from all three credit reporting agencies.
Elizabeth Karwowski: “Eighty percent of individuals have something inaccurate on their report. If you don’t look at it, you really don’t know what’s going on.”
Nicolas got his fixed and saw a big difference in his score.
Nicolas Brocherie: “Within two or three months, my score went from the high six to the mid sevens, high sevens.”
If your problem is high debt and late payments, the number one thing you can do is pay your bills on time. Then, start paying off those accounts. But even after you pay cards off, keep them open to establish credit history, and make sure you are keeping balances low.
Elizabeth Karwowski: “The way the formula works is that ideally, one individual should not use more than a third of their credit limit. If you use over 50 percent of your credit limit, all of a sudden you become a risk to the creditors.”
Roland has paid down his debt and learned how to use his credit cards and now has his score back on track.
Roland Poitevien: “I feel that, you know, the next month, the next 30 days, my credit score is going to be ideal to 790 where it needs to be, and I know how to keep it there.”
Lynn Martinez: “To find out your credit score, go to www.annualcreditreport.com. It will give you a free copy of your credit report once a year.”
Duration : 0:3:28
Learn more at http://www.Saberhacer.com – After looking for scholarships and grants to fund your college education, student Loans are a third option to consider. Learn the basics of programs available to students and families.
Duration : 0:6:3
http://www.SeanLaRue.com
Your KEY To Moving Home!
Use your $8,000 federal tax credit for first time home buyers! Sean La Rue wants to make sure you have all the up-to-date information needed to buy a home in today’s market. First home buyer? No problem, Sean is an expert working with hundreds of families like you. Go to www.SeanLaRue.com to apply for a home Loan today. Images and Intro by Ian La Rue www.laruephoto.com Follow Sean @SeanLaRue … Call me Sean La Rue 760-835-5663
Duration : 0:2:20
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Duration : 0:1:17
**** Connect With Us On Facebook – http://facebook.com/BayAreaConnect ****
This is Thomas Feng with Bay Area Connect talking with Joe Lima of Princeton Capital about topics affecting a First Time Home Buyer.. This week we will be discussing questions and concerns most homebuyers have about the types of loans available.
Questions we will be discussing include:
-What types of Loan Programs are available?
-How long are the terms of these loans?
-What are the benefits of a Fixed and Adjustable Loan?
-How do you qualify for these loans?
-What are Loan Limit Amounts?
-Why work with Princeton Capital?
Are these video giving you useful information? Please leave any questions or comments under the video.
Visit our Blog at http://BayAreaConnect.com to stay updated on how the Real Estate Market is changing in the Bay Area.
Duration : 0:4:38
http://realestatemarketingthisweek.com/first-time-home-buyer/the-median-income-first-time-home-buyer-can-afford-twice-the-median-priced-home/ – The median income family can afford twice the median priced home –
Part 2 – And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan?
Yes, I left the Mortgage industry in October of 2007. Tell us a little bit more about yourself.
As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 S&Ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy.
There are a couple of points I want to make and it was something that Michael had said earlier. The first one was that 4% interest rate. Originally Obama said a couple of weeks ago, when he rolled out the mortgage plan, that they were going to take the $200 billion and use it to buy mortgage backed securities, well the article I was reading today said it appears that plan may have changed. Instead of buying the mortgage backs they were actually buying the stock of Fannie and Freddie to help support the company and keep these companies going under. I dont quite understand why being how they own them now.
Well youve got to hand it to the government they have really done a heck of a job helping Fannie Mae out, for instance today the stock is up to $0.41. Wow, doing so well, I remember when it was $150 or so, where it was at the top of the market.
Today, right now is definitely the best time even if rates dont get down to the 4% point. The beauty of it and were going to talk more about this in a later segment, is that we have seen a 51% decline in home values from the peak of the market. So you dont have to have the absolute greatest interest rate in order to be able to buy a house today. The median home price right now is $130,000 in Maricopa County, it was $264,000 just two years ago.
So the median home price is $130,000? We are going to talk a little bit about what a person has to make to actually qualify for that. Well it is definitely well within the means of a median income family. Right now a median income family makes about $64,000 in the state of Arizona according to the US Census Bureau and HUD. I ran some numbers today, I think at 6% interest and at that rate they can buy a $280,000 house. So you can buy twice the median home price if you are making just what the median income family would be in the state of Arizona. So the median household income buys double the median priced house in Maricopa County. That is correct, at 6% interest.
And the reality of it is interest rates are not even that high right now. So for people to be waiting for that perfect interest rate of 4% it doesnt really matter if it gets here or not because right now is such an incredibly fabulous time to be buying a house. There are so many foreclosures out there on the market right now, there are so many short sales out there on the market right now, and the point you made earlier is very important, that people have to get in and get prequalified, know exactly what they can buy. Now in many cases you are going to need a down payment, so get with your mortgage broker, get with Velocity Financial and start working on that program of getting those funds together for the down payment as well.
Dan Havey we talked in the past about whats available for financing these days, interesting to give little pat on the back for Velocity Financial is one of less than 15% of all of the lenders in the state of Arizona that are qualified to do FHA financed homes. Now FHA financing, people used to think it was only for first time home buyers, thats no longer the case. The FHA Loan which only requires 3.5% down payment it doesnt matter if you have owned a home before and in many cases you can own another home now so long as your new purchase is going to be your primary residence you can utilize FHA financing and put only 3.5% down… http://realestatemarketingthisweek.com
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Bellevue / Seattle Real Estate Mortgage Rate Watch: Wall Street closing at 11:00 Pacific Time today. BREAKING NEWS, the Federal Reserve is now predicted to HIKE the Fed Funds rate in 2011 by .50% to control future inflation. With Quantitative Easing 2 and the TAX CUT stimulus being passed will add to the growing debt concerns all fueling INFLATION. This is VERY important for HOMEOWNERS who have A.R.M. and Home Equity Lines of Credit. Though it is nice to have a Adjustable Rate when rates are at their all time historical lows, moving forward it could be a VERY expensive gamble.
Duration : 0:2:31
Lawmakers To Discuss Pay Day