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Mega kudos for passing on this data chart. I've alawys been baffled by the foreclosure process and truly do not want to be a victim. I just figured a few delinquent payments would get your house taken away, but it seems like quite an elaborate process. Thanks for sharing the details. Reply
Everyone has given you really great advcie so far. People think they can buy realestate and get rich! They forget that furnaces blow and roofs leak. You already have that experience as a property manager and that is a good start. The thing that no one tells you is that investing in real estate is a long term goal. Not get rich quick. Unless you have a lot of cash and can buy properties outright the profit starts real slow. With our current economic situation rents won't go up very fast. The idea of investing is after say 15- 20 years the investments start paying off. If you are smart about it you try to pay down the mortgages as fast as you can. Don't over leverage yourself or you will lose everything. You have to build your foundation with a strong base.You will work really hard for a long time for nothing. You will probably need to keep a regular job for a while. Some of these forclosures are really great. Even if purchased at 50% of value you won't recieve enough to quit your job. You need to have down payment money otherwise it takes money to make money. The current foreclosure market just froze up with all this bail out stuff. All I see is the short sale and foreclosure market drying right up. Good luck! Don't be foolish and know your local laws regarding tenants and landlords.
looking forward to Veronica and J.P.'s wendidg ever since getting to know them during their engagement session. I was glad to see them blessed with a beautiful fall day for their ceremony and reception at the
I am a real estate agent senivrg the Austin Texas area and impressed with your web site. From time to time I preview other agents sites for ideas to improve my site. Kindest Regards Allen Deaver Sky Realty Austin Texas
Deborah Voelz, Everyone is looking at what the uamttlie loss is going to be and whether it makes sense to hold off another year or two and mitigate the results. The foreclosure process ??” and it is a process ??” now takes, on average, 18 months to two years, up from 15 months a year ago andBanks also are allowing borrowers to be delinquent for longer and longer periods of time before initiating foreclosures, Sharga said. There are borrowers who are six or eight months in default; they may have exhausted their workout options; but they're put on a forbearance plan because it's an interim to a final resolution, which is foreclosure, he said. Banks don't want to take the losses now. Deferring foreclosures could have bottom-line benefits, experts say. With fewer foreclosed properties hitting the market, housing prices have rebounded slightly. Moreover, properties might recover more of their value later on, so by waiting, banks may be able to cut their uamttlie losses. Everybody is waiting to see what the market is going to do from a property price perspective, Voelz said. At some point, they have to liquidate these assets. and finallyHow banks account for delinquent mortgages is the subject of ongoing debate among regulators, bankers and auditors. Banks are believed to be carrying a lot of loans at accounting levels well above their true market value, he said. But once a property goes into foreclosure, their options have disappeared. Timothy Ward, the deputy director of the Office of Thrift Supervision, went so far as to send a letter to chief executives in May reminding them that banks must account for losses when a loan is 180 days or more past due. Charging off loans only at foreclosure or when deemed uncollectible is considered weak and not in accord with generally accepted accounting principles, Ward reminded bankers. This is the challenge the big banks have, . They're supposed to take the loss at 180 days, but the initial chargeoffs aren't that much and then we're seeing big REO losses No one is encouraging banks to quickly book $75 million in losses and then take the heat for it, since they wouldn't have a job for very long, he said. despite the high redefault rate on modified loans, banks now see an advantage in modifying instead of foreclosing because it cures the delinquency and they may get par value out of the loan, if property values are stable. Even if they get [only] a few payments, if property values go up, they could do a bit better once they take out the borrower. The flip side is: The more foreclosures there are, the worse the losses become down the road, he said. Though deferring foreclosures may help bridge a period of depressed revenues, losses still must be tallied eventually, said Cannon of Keefe Bruyette. One of the oldest lines in banking is the first loss is the best loss,' he said. That's what most lenders believe, but the question is, are they abiding by their own rule?
4 CENTS PER BILL I first assumed that they are tainklg about ONE DOLLAR BILLS but after reading it again, I am not too sure. I doubt that they print billions in ONES to distribute to their banking buddies. This makes what your tainklg about 100 times worse. If you were worried before, then its time to freak out!
With all the trillions of dolalrs of our hard earned money that the Federal Government is spending to BAIL OUT them Thieving BANKSTER The money could pay for every persons mortgages and education! Everybody in America! What is wrong with this picture? And also! They are trying to say that We are the ones to blame It is Not FOLKS! WAKE UP!! The Bankers lobbied to have the Glass Steagle Act abolished during the Clintons administration! And ever since
Misti - What a great experience! Not only did you do your best to make this 9 month pneargnt lady look her best, you also captured some wonderful, memorable photos of my hubby and I. We can't wait for our little guy to get here so you can work your photography magic on him.
IF you want to know what will happen to America, look at Angola, Brazil, China, Middle East, RussiaAngola: Terrestrial mines do procett big companies complexesBrazil: High criminality, infrastructure in shambles and a moron puppet in chargeChina: people turned into slaves, no health care for them, if they have an accident at work, bad luckMiddle East: Military check points everywhere, no freedom, walls, etcRussia:declining population due to addiction and diseases
Derivatives & Ponzi schemes has cteerad a economic black whole! No matter how much money they put into bail outs, it will never be enough! This is designed to break our economy down! That why NAFTA was put in place to have our BUSINESSES go elsewhere! We are slowly being stripped of our means to export & support ourselves as a Country and to rely on our government to take care of us! BUT! Not before they strip up of our Freedoms! WAKE UP! Look at the big picture!!!
Dear Adam,I'd be eager to speak with you and other BYU stnduets about the ICSC stnduet membership program. ICSC is the global trade and professional association of the retail real estate industry. We have a great stnduet program, priced at $50 for a calendar year. With this, you recieve full membership benefits including access to our membership directory (personal contact info and meeting attendance of our 55,000 members), access to the ICSC job board, access to our proprietary database of statistics and research publications, a subscription to Shopping Centers Today, plus reduced registration rates at ICSC meetings .you can attned our meetings, including the huge meeting in Las Vegas in May for only $50. Please let me know if I can provide information to you or others in the Real Estate Club. I am at and 646-728-3490.
but this months inracese was much greater than expected. Low prices and the federal tax credit/housing stimulus programa0offered by the governemnt to first time home buyers was probably a huge boost to the
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Ok I cant take this crap anymore.. KSS is the one they were upset with for pinsog for a cover breast feeding her 1st born.. COMEON now!! This is the very reason I stopped buying mags.. of any kind!! I cant take them telling me whats good and bad anymore These are the same ppl calling Ricky Martin FAT this week.. Ok if hes fat I know a lot of other men who shouldnt leave the house!! mmk..lol..
Seems a little harsh to me. I have lived there and I was so happy to leave there. I look for a lot of perorpty for sale in Calif in the near future. Reason,,, Calif is being over-run with the wall jumpers and perorpty in general will take a big dip in value.