bank

A Glossary for Today’s Real Estate Investor

by Marty Boardman | September 29, 2011

So you want to get into real estate? Well, allow me to help you get up to speed on a few important terms, from an investor’s point of view. Short Sale: This is an oxymoron. Rarely are short sales short. It’s even rarer if a sale occurs at all. An extremely subjective process, the short [...]

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Real Estate Investing

When Flipping it’s the FHA’s Way or the Highway

by Marty Boardman | April 28, 2011

You’ve heard of the Golden Rule right? Virtually every religion in the world has a version of it. There’s the Bible: “So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets.” – Matthew 7:12 And Buddhism: “Hurt not others in ways that [...]

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Commentary

We’re Sooooo Sorry Says Two Ex Citigroup Execs; So What?

by Charles Feldman | April 9, 2010

They say they are sorry, but so what? Doesn’t really change anything, does it? I’m talking about two former Citigroup executives who managed to sink the bank as surely as the sleeping captain of the Titanic failed to avert disaster by plowing into a large chunk of ice that couldn’t fit into the cocktail glasses [...]

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Foreclosures

Foreclosure Alternatives are Gaining Steam

by Florence Foote | February 9, 2010

Nationwide, 1 in 4 mortgages were underwater by the end of 2009. Recent research suggests when a negative equity hits 25% (i.e., the borrower owes 25% more than the market value), borrowers tend to walk away from their mortgage, even if they are perfectly capable of making the payments. These two trends, taken together, can [...]

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Mortgages & Lending

Will Banks Ever Lend Again, and if so, How To Get Your Deals Funded

by Peter Giardini | January 12, 2010

I was speaking with one of my coaching clients this morning whose has purchased some killer deals using his Home Equity Line of Credit and private lender funds. This client now needs to recapitalize to get the cash out of these properties so that he can continue his buying spree. During the course of the [...]

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Commentary

Sure, Walk Away From Your Loan, Why Not?

by Brendan O'Brien | December 20, 2009

I wish I could write a happy post about the Christmas spirit right now, but I’m not in a generous mood. I just read this article in which a professor of law advocates that people who are having trouble with their mortgages just walk away – free as a bird – and to heck with [...]

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Real Estate Wholesaling

How to Close REO Wholesale Deals (Part 1 of 5)

by Stephani Davis | September 10, 2009

If you’re a wholesaler and have been considering jumping into the REO arena, you’ve probably already figured out that you’re not going to be able to assign your purchase contract to your end buyer like you would on a regular wholesale deal. Ninety-nine percent of the banks will include a “No-Assignment” clause in their contract which will prevent you from doing so.

REO Wholesales are Still Possible!

Because of the bank’s restriction on assigning contracts, many wholesalers are under the impression that there is no way to wholesale these deals at all. This is far from the truth, and while there may be a few more hoops to jump through when wholesaling REO properties, there are still several ways to get these deals to the closing table.

Over the next five weeks, I will be covering five different strategies that you can use to wholesale your REO deals and get around the bank’s “No- Assignment” clause.

Conducting a Simultaneous Closing

Today I will be talking about using a simultaneous closing, which is the way I have been closing my REO wholesale deals for the last two years.

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Foreclosures

Is Now the Time to Buy A Foreclosure?

by Tom Koziol | December 12, 2008

A great question that has probably been asked a million times or more. It probably has been answered a million different ways too. My answer is yes but with 3 caveats. I fully realize the answer spectrum has many more than 3 but I thought I’d pop out the 3 I think are at the [...]

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Commentary

What Is The Real Reason For The $700 Billion Bailout?

by Rob K. Blake | October 11, 2008

I promised you last week after outlining my belief the “frozen credit markets” was a contrivance by Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson, I’d spill the beans on why the dynamic duo wanted to lay their hands on $700 Billion since it wasn’t needed to thaw out anything. So here goes..and I [...]

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Economy

BREAKING: Black Friday? International Leaders to Shut Down Global Markets?

by Joshua Dorkin | October 10, 2008

According to Bloomberg: “Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they “rewrite the rules of international finance.” “The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,” Berlusconi said today after a Cabinet meeting in [...]

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Economy

700 Billion: Can we handle the truth?

by Rob Powell | September 29, 2008

Greetings from the metropolis of Cedar Crest, NM. Where my weekends are filled with youth football, soccer…and then some. As I yell at my boys from the sidelines to hustle and tackle and kick….the number 700 billion creeps into the forefront of my mind. What in the heck is 700 billion? What can one say [...]

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Commentary

A Bad Bank: I Laughed All The Way Home

by Jim Watkins | September 27, 2008

This article is a stretch when it comes to being about real estate but, what happened to me yesterday at the bank was so dumb that it all makes sense. I had hired three day laborers to help me with a small house project I have been working on and as I was driving them [...]

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Economy

FEDS BAIL OUT FANNIE AND FREDDIE; EMERGENCY MEASURES TAKEN

by Charles Feldman | July 13, 2008

In a clear sign the federal government is far more concerned about the financial health of mortgage finance giants Fannie Mae and Freddie Mac than its public comments indicated as late as Friday, the U.S. government Sunday night announced what some are calling a “massive aid” package to the two shareholder owned and run companies [...]

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Credit

BREAKING: IndyMac Bank is Shut Down and Taken Over by Feds

by Joshua Dorkin | July 11, 2008

INDYMAC IS OFFICALLY CLOSED!!! In the past minutes newswires around the country and world are now reporting that the Federal Government has shut down IndyMac Bank and has handed it to the FDIC (Federal Deposit Insurance Corp.) as conservator. Couple the shut down with the Fannie Mae/Freddie Mac troubles, and we’re in for some really [...]

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Housing

Refinance Before Making Late Mortgage Payments

by Joshua Dorkin | December 8, 2006

In the current housing bubble, hundreds of thousands of people, if not millions got themselves into risky mortgages. Often times people will not realize that they cannot afford their home until it is too late! If you’re having problems paying your mortgage and you want to refinance, do it before falling behind or making that [...]

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