Housing Boom Gone Bust

2010-01-25T19:25:00.000-08:00

Fha is the blog when you find yourself alone
Your fha mortgage blogs come to light and your mind is not your own
Fha is the blog when there's no one left to call
You feel the time is right--(say) the writin's on the wall

It's a high time to fight when the fha blogs are closin' in
Call it what you like--it's time you got to win
Fha blog, fha blog, fha blog--your spirit's sinkin' down
You find you're not the only stranger in this town

Red lights, green lights, stop 'n go jive
Headlines, deadlines jammin' your mind
You been stealin' shots from the side
Let your feelin's go for a ride

There's danger out tonight..the man is on the prowl
Get the dynamite...the boys are set to howl
Fha is the blog when you hear the voices call
Are you ready for a fight--do you wanna take it all

Slowdown, fha-loan- blogdown--waitin' on line
Fha-loan- blogtime, no time for changin' your mind
Streets are ringin', march to the sound
Let your secrets follow you down

Somebody's watchin' you fha blog--so much you can do
Nobody's stoppin' you fha blog, from makin' it too
One glimpse'll fha-loan- blog you now fha blog, what the music can do
One kiss'll fha-loan- blog you now fha blog--it can happen to you

No more sleepin', wastin' our time
Midnight creepin's first on our minds
No more lazin' 'round the tv
You'll go crazy--come out with me

2009-07-26T13:09:00.000-07:00

Sneaking a lunch break at Wells fargo loss mitigation is tough. EVERYONE is complaining about the poor services in the short sale department. They are all looking through the want ads looking for a new job. I listen to them yack all day long about how the short sales are not moving past th approval department. This is why I usually work through my lunch break and that’s when I learned about the principal reduction loan modifications being given out at Wells Fargo loan modification side…

There will be more about the principal reduction loan mods at Wells Fargo loan modification department in a future post. Until then, stay away from the lunch break crew at Wells Fargo short sale department.

2009-02-22T20:17:00.000-08:00

Let's look at the FHA loan officer information for the day. The first thing that should be done is that the FHA trained loan officer shoudl present teh fha training material for everyone. If one person buys the fha training material then they can share with the other FHA loan officers.

FHA lending training personnel

2008-12-25T10:58:00.000-08:00

This is a list of all of teh FHA streamline lenders that I have found and I am still searching for more. Here goes the FHA refinancing list:

FHA streamline without an appaisal

Your FHA lender that doesn't need an appraisal

The FHA refinance with a rate of 5%

5% is a nice rate for FHA loans

Lower your Payment with an FHA Streamline refinance

This is the fha lender that likes dogs and 5% rates

The FHA lender list is a work in progress

2008-12-16T20:27:00.000-08:00

Working in a loss mitigation job is neat. I have a forbearance agreement myself and that is helpful experience for the job. I will apply for the repayment plan department at JP Morgan Chase and then I will attempt to change the hold music to play more of a rock-n-roll style. This will be the first thing I implement at Jp Morgan Chase loss mitigation job when I start. If you have any leads for loss mitigation jobs and they are at JP Morgan Chase then let me know and I will bring my tape player with me to change the hold music.

2008-09-25T20:45:00.000-07:00

Final thoughts on the FHA short refinance loans are waxing thin. This is a means of lowering the payoff to an FHA short amount. Your experience with the FHA short refinance may be different and depend on the FHA lender that offers the refinance loan.

FHA Short Refinances........you can be tall and get a short refi through FHA as far as I know.

Here is a list of the FHA Short Refinance articles to date:

There are many more articles for the FHA short refinance and some are helpful and some are not. Be careful about what you read on the internet and if it looks like a bunch of nonsense just to gain search engine rank then it probably is. FHA short refinances are increasing.

2008-09-21T17:36:00.000-07:00

Let's talk about mortgage domain names and mortgage websites for loans and lenders. The mortgage broker has a distinct advantage in the blogosphere with regards to a mortgage website and domain name. Look at these mortgage websites and get back to me on that subject.

WWW.JACKIELOANS.NET

WWW.JACKSLOANS.COM

WWW.JAMESLOANS.COM

WWW.JASONLEND.COM

WWW.JASONLOANS.NET

WWW.JEFFREYLOANS.COM

WWW.JEFFSLOANS.COM

WWW.JENNIFERSLOANS.COM

WWW.JENNSLOANS.COM

WWW.JENSLOANS.COM

WWW.JEREMYLOANS.COM

WWW.JESSESLOANS.COM

WWW.JOELSLOANS.COM

WWW.JOHNLOANS.NET

WWW.JOLOANS.COM

WWW.JOSEPHLOANS.COM

WWW.JOSESLOANS.COM

WWW.JOSHLOANS.COM

WWW.JUANSLOANS.COM

WWW.JUDYLOANS.NET

WWW.JULIESLOANS.COM

Your mortgage domain name for sale may not be one of the mortgage websites listed above. Real estate lending has to do with loans and so do the domain names listed above. Your first name and a mortgage domain name is easily remembered by you. If you forget your domain names then you can look at your drivers license and then recall yoru first name and add loans to the end with a dot com. This is what a mortgage website with your name formed into a mortgage domain name is all about.

Mortgage Domains are fun and so are mortgage websites with your name.

2008-08-30T16:54:00.000-07:00

Fannie Mae plans to roll out a new program in the next few months to encourage short sales of delinquent borrowers' homes, a move that shows mortgage investors may be willing to make further concessions as housing prices fall and the inventory of foreclosed properties continues to grow.

As the holder of credit risk, Fannie take losses on homes that sell for less than what is owed on the mortgage, but generally the loss is not as big as it would be if the home went into foreclosure. Many loan servicers and some brokers of "real estate owned" — properties that have been repossessed by a lender — say the number of short sales has increased significantly in the past few months, largely because more foreclosed homes have flooded the market.

Jason Allnut, a vice president for credit loss management in Fannie's Dallas office, said the government-sponsored enterprise is looking at ways to persuade servicers and REO brokers to do short sales while streamlining the process. "We want to incentivize the borrower with a program of preapproved short sales," Mr. Allnut said Monday at a conference in Indian Wells, Calif., sponsored by REOMAC, a trade group. That statement drew applause from the audience of about 1,700 default servicing professionals.

Many REO brokers complained that servicers typically cut the broker commissions on short sales, compared with a 4% to 5% fee on foreclosure sales. But Mr. Allnut said: "Fannie is telling servicers not to cut broker commissions."Eli Tene, the president of I Short Sale Inc., a Woodland Hills, Calif., advisory firm, said it currently takes three to nine months to complete a short sale. Many loan servicers have held up the short-sale process by requiring approval from both the first and second mortgage holders, or a majority or three-fourths approval from investors in a pool of loans — "even on one short sale," he said.By doing so, "they kill the process," Mr. Tene said. "What are the chances of holding on to a buyer for three or four months?"

Kevin Kanouff, the president of the fixed-income services unit of Clayton Holdings Inc., a Shelton, Conn., due diligence, surveillance, and loan servicing company, said short sales used to be an "afterthought" for banks but are increasingly seen as a practical alternative to foreclosure.

Clayton has noticed "a significant increase in the number of short-sale liquidations in the past year" by clients, because servicers are getting more borrower requests to effect such sales, he said. Second liens that have negative equity positions are typically getting $1,000 to $3,000 from short sales after the senior liens are paid off, he said.

Still, the difficulty for homebuyers to get financing in the current market and inadequate staffing of loss-mitigation departments are the most common reasons short sales fail to get approved, he said.Servicers must reconcile the discrepancy between the original appraised value of a home and the updated "interior" value to determine the short-sale price, Mr. Kanouff said. "

You calculate what you think you would lose on the sale price and what you would lose on a foreclosure, and weigh that against what a borrower can get refinanced at," he said.

Mr. Tene said his company is seeing a 20% to 30% increase in the number of borrowers who want to sell their homes in a short sale. He found that banks are penalizing borrowers who may be current on their mortgage but want a short sale and can prove some form of hardship. One-third of I Short Sale's 1,800 short-sale requests are from borrowers who have never stopped making their mortgage payments, Mr. Tene said.

A nationwide survey of real estate agents conducted last month by Campbell Communications Inc. of Washington found that 20% of all completed home sales in the fourth quarter were short sales or preforeclosure sales.

The survey, which was published this month in the newsletter Inside Mortgage Finance, found that about two-thirds of pre-foreclosure and short sales are initiated by homeowners, the rest by servicers. In all, the real estate agents surveyed said about one-third of borrowers signed short and pre-foreclosure sale deals that fell through; the most common reasons were home inspections and property damage, a refusal by sellers to sign "deficiency notes," and sellers' inability to pay closing costs.

In February, Freddie Mac expanded a short-sale program to include more loans with a higher likelihood of loss, said Brad German, a spokesman for the GSE. The program lets servicers submit short sales with few documents from the borrower. Late last year, Freddie authorized its Tier One servicers — those that have shown "superior performance" — to accept short sales at bigger discounts and to pay out more to junior lien holders, Mr. German said.

As a result of these changes, short-sale approvals nearly doubled last quarter from the previous quarter, and closings of such sales increased by more than half, he said.

Preapproved Short Sales

2008-08-10T15:41:00.000-07:00

Relocations for FHA from the FHA 4155.1. If the FHA borrower is relocating from Florida or any other place in teh USA and re-establishing residency in another area not within reasonable commuting distance from the current principal residence, the borrower may obtain another mortgage using FHA insured financing and is not required to sell the existing property covered by a FHA-insured mortgage. Thi sis outlined in the FHA 4155.1 please review the FHA handbook for more detailed information.

The relocation need not be employer mandated to qualify for this exception. Further, if the borrower returns to an area where he or she owns a property with an FHA-insured mortgage, it is not required that the borrower re-establish primary residency in that property in order to be eligible for another FHA insured mortgage. The FHA manual is also called the 4155.1 or the FHA rule book.

2008-08-03T14:22:00.000-07:00

You may try to see the deficiency judgment in Florida and then you can find the florida mortgage that they were seeking to foreclose judicially and that is the key. The key is the judicial foreclosure. Please, please, please respond top the complaint or you will have a default judgment enetered against you. The default judgment means you lost and that is not the outcome you are seeking for your FHA mortgage in Florida. Trust me on this one.

Now, moving forward, I ask again: Is your mortgage loan a recourse or a non-recourse loan? The difference is a large matter when it comes to the plaintif lender seeking to obtain a deficiecny judgmnt against you. In florida it will be a recourse loan and they may obtain a deficiency judgment against the hoemowner.

Seek some information on the florida deficiency judgments before the case goes to court. I am not an attorney, I am simply someone who is typing deficiency judgment and florida foreclosure many, many times becomes I suffer from ADD. And finally, where was I, oh yeah, deficiecny judgments in florida are not something that you want.

Deficiency judgment some times is spelled wrong as a judge has an e and judgement does not have an e. Thanks for listening and please leave a comment for the deficiency judgment post whether or not you are in florida with an FHA loan does not matter. Thanks!

And don't forget to check if you have a non-recourse mortgage loan in foreclosure!

2008-07-19T20:04:00.000-07:00

Someone will have to examine the FNMA rule listed below:

"We believe the likelihood of fraud or misrepresentation increases when the lender is not able to confirm that the property seller in a purchase money transaction (or the borrower in a refinance transaction) is the owner of the subject property based on publicly available information."

That is interesting when you look at short sales and real estate investments in FLorida. There have been a series of real estate short sale blogs discussing FNMA rules recently and I am trying to learn if FNMA short sale Flip rules have changed.

Can someone post a comment and let me know if FNMA short sales are any different than the Fannie Mae short sales we did years ago? I will check back and see if FNMA short sale people have said anything.

Florida short sales are another subject. The FNMA MyCommunity Mortgage was popular some time ago. Many of those My Community FNMA loans are now foreclosures or short sales I suppose. One thing that has changed is FNMA short sales and getting a new FNMA loan is only 2 years now.

2008-07-15T19:23:00.000-07:00

I was studying the new FHA MIP MATRIX over at sci-fi housing and I realized that the FHA mortgage had a variable rate for the MIP cost. The LTV and FICO score will now determined the FHA MIP cost. That seems like risk based pricing has hit the FHA mortgage loan pretty hard. Will the FHA MIP be on everyones mind for a while? I don't know the answer to that, but if you want to get an FHA loan you'll have an MIP payment that varies depending on FICO score and loan to value.

FHA MIP MATRIX

2008-07-09T20:01:00.000-07:00

If it is all the same to you, I'll keep my good faith estimate and truth in lending statement with the current fha apr. Should you object to the higher (or lower) interest rate (or APR) then I will ask for a current fha apr to companre the TIL disclosure.

Say current fha apr and say it for the benefit of those seeking annual percentage rates on mortgage loans.

2008-07-04T14:24:00.000-07:00

The FHA loan buyer was searching for the APR on his loan prior to applying. He looked in the paper for the FHA APR and couldn’t find it. Next he asked the kind people in the FHA mortgage office what the FHA APR was. They were dumbfounded by the APR question with regards to FHA.

Then someone asked: “Are you current on your loan?” and the gentleman said “Yes, I am current on my FHA mortgage loan and I would like to know the APR”.

Well the answer was right before everyone’s eyes. There in the middle of the FHA mortgage market was the current fha apr for all to see.

For more information regarding today’s FHA APR and the current FHA APR, check the FHA rates at your local mortgage company.

2008-06-28T13:37:00.000-07:00

One more comment before I go to lunch and that is that Florida short sales are on the rise. This is giving to increased loss mitigation in Bay County Florida and hopefully will prevent teh foreclosures moving forward. FNMA short sale policy.

Florida Short Sales in Panama City

2008-06-22T14:39:00.000-07:00

Maybe thsi can be anothr interesting post on florida short sales available in Gainesville which is alachua county florida. Here are the important links to review:

http://www.sellerhelpsbuyer.com/Buy-Short-Sale/Buy-Short-Sale-Alachua-Florida.htm

http://zkt145.blogspot.com/2008/06/take-look-at-alachua-county-florida.html

http://myfirstblog12.blogspot.com/2008/06/interesting-tid-bits-on-short-sales-in.html

http://short-sale-real-estate.blogspot.com/2008/06/skelly-bought-short-sale-of-real-estate.html

http://scientifichousing.blogspot.com/2008/06/when-is-alachua-florida-short-sale.html

http://larrylinkler.blogspot.com/2008/06/take-me-to-short-sale-in-alachua-county.html

http://moneypaystherent.blogspot.com/2008/06/getting-tired-of-alachua-short-sales-in.html

Please read the short sale of real estate articles carefully and tell me if you are seeing teh same thing in it that I do. When you do that - and if you think florida real estate of short sale often - then click the links a bunch of times and then when you are done, go buy an alchua florida short sale. than you for your time today.

2008-06-17T19:30:00.001-07:00

Housing Boom Gone Bust not gonna keep quit about the credit scoring and FHA MIP pricing that is changing the cost of all FHA loans for everybody. Look at the LTV chart for FHA MIP credit score and FICO adjustments.

You can pay more for the FHA MIP Riosk adjustment for credit scores on an FHA loan becuase the MIP is is higher and your FICO is lower. Is that fair?

Let me ask another way. You can pay less for FHA MIP and risk based pricing based on FICO FHA MIP cost. Is that fair? Is it fair if FHA isn't solvent as a result of lower Mhttp://www.brokencredit.com/?cat=41IP FHA costs based on credit score?

You can't have itboth ways folks, wither you think FHA MIP FICO cost is fair or it isn't. Me, myself, I think it stinks. I'll be writing more about FHA MIP FICO changes later.

Until then, read MIP risk and FICO with credit score different costs.

2008-06-17T19:30:00.000-07:00

2008-06-10T20:02:00.000-07:00

Finally I can list the title companies of real estate that close with an option contract. In no order whatsoever, here they are:

TITLE COMPANY SHORT SALE

WE LOVE SHORT SALE OPTIONS

Option Contract of short sale title insurance

Title Insurance for anything including option contracts

Litton Loan Service Title and Option Contracts

Does this make any sense title option real estate for a short sale, inc.

This concludes our study of options and various ways for title insurance to explore the option contract of real estate when a short sale is involved.

2008-06-05T16:41:00.000-07:00

Cheap real estate in flagler county is available for sale today. This is a short sale of real estate in flagler county. This is welcomed news for the buyers of real estate in flagler county florida.

Take a look at this flagler county real estate that is offered at a discount. Your flagler county real estatet is cheap or el cheapo as we call it in flagler county real estate shops.

Check out the flagler county real estate that is offered at a discount and then let me know if there are any better deals in florida real estate besides flagler county.

Thanks for readining about flagler county real estate deals!

2008-06-03T20:31:00.000-07:00

Let me make this the final fha post under 580. Your fha loan has arrived with teh credit score below 580. That doesn't necessarilly mean the credit score can be a 550 or a 579 or a 531. All it means is the fha is available at various fico levels.

As you can see, the fha mortgage has a variety of credit scores and fha 580 and fha 620 are two important and popular credit score levels for fha.

FHA MORTGAGES BELOW 620 and UNDER 580 FICO FHA

2008-05-26T17:33:00.000-07:00

[Chorus]The florida liens on short sales come out at nightThe florida liens on short sales come out at nightThe florida liens on short sales come out at night(the florida liens on short sahttp://myfirstblog12.blogspot.com/2008/05/florida-liens-gone-do-your-short-sale.htmlles come out)The florida liens on short sales come out at night
Discos don't open till after darkAnd it ain't till twelve till the party really startsAnd I always had to be home by tenRight before the fun was about to beginCrowds of people lined up inside and outJust one reason, to rock the houseBut in the day time the streets was clearYou couldn't find a good florida lien removal letter for homestead property anywhere, 'cause
[Chorus]
Now when florida liens on short sales get dressed to go out at nightThey like to wear leather jackets, chains and spikesThey wear rips and zippers all in their shirtsReal tight pants and fresh mini skirtsAll kinds of colors runnin' through their hairAnd you could just about find a florida lien removal letter for homestead property anywhereBut then again, you could know someone all their lifeBut might not know they're a florida lien removal letter for homestead property unless you see them at night, 'cause
[Chorus]
Now the party's jumpin', the place is packedAnd when the crowd's like this, I'm ready to rapBut before I could bust a rhyme on the mic Florida liens on short sales are all over me like white on rice Florida liens on short sales come in all shapes, sizes and colorsBut what I like about 'em most is that they're real good loversThey do it in the park, they do it in the darkBut most florida liens on short sales are known for breakin' heartsYou could never tell what a florida lien removal letter for homestead property was thinkin' ofAnd you may never catch a florida lien removal letter for homestead property without at least one gloveAnd they don't walk, when they step, they strutAnd nine times out of ten they drive you nutsBut take my advice, you don't stand a chanceFlorida liens on short sales are so bad they got their own danceSo if you wanna live a nice quiet lifeDo yourself a favor, don't come out at night, 'cause
[Chorus]
Hut one, hut twoHut hut hut
[Chorus]

Florida Lien Release

2008-05-15T20:44:00.000-07:00

This fha score is below the mark for fha loan approval.. The file got kicked tro another fha mortgage company.

The fha mortgage underwriter denied the loan for a low credit score. The file got kicked again to another fha lender (for low credit scores).

Then the file was kicked a third time for low fico and fha loans.

The borrower (with the low fico and desiring an fha loan) said "what is this? a game of kick the can?!"

"I'm an fha borrower with a low credit score so stop kicking me!" the borrower continued steadfast in his fha credit score tone of voice.

The room fell silent for 10 seconds. You could hear a pin drop.

Then laughter erupted and applause and the lights turned on and the fha underwriter came out like Monty Hall in the games show FHA Credit Score Time and he said to the fha borrower (the one with the low credit score), "If you have a comb in your pocket then I'll give you an fha loan with your low credit score".

Well the short versiuon of the story is that he didn't have a comb in his pocket, but he did have -yes, you guessed it - a low credit score and no fha loan.

2008-04-20T14:33:00.000-07:00

Partial claim frequent asked questions for fha loans includes the following infromation.

Answer: The collection process on a Partial Claim that is left "unpaid" at the time the mortgagor pays off their FHA first mortgage is the Department bills the mortgagor directly. The Partial Claim debt is not forgiven and the mortgagor is required to make a lump sum payoff.

Overall it is a great way to get current on your fha mortgage loan. The FHA secure is another way to help an in florida the fha secure programs will help many. You amy also look at florida short sales to help avoid foreclosure.

My partial claim program is not the fha loan and the fha loan has their own partial claim program. You can search teh fha website for fha loan and fha refinance for the fha partial claim.

FHA lenders available for bankruptcy buyouts fo fha loans.

You amy not be interested in an fha partial claim today so just keep the fha partial claim info on hold for now. RESPA may have something to do with all of this fha loan business.

Another idea that fha partial claim brings up is "The Mortgagee's responsibility for a Partial Claim ends when the following two events occur: (a.) HUD receives the executed subordinate mortgage and (b.) When any requests for payoff of the first lien occur, the mortgagee is obligated to notify HUD to obtain full payoff amount of the Partial Claim and supply that information to the mortgagor. " and try to keep that in mind about the fha partial claim program when investigating teh fha alternatives to foreclosure. The FHA secure is one more option to consider. Sometimes the fha subordination agreement can help to reduce the ltv for an fha refinance.

MY FHA PARTIAL CLAIM

2008-04-17T19:59:00.000-07:00

Is anythinmg secure with FHA secure? Is that just a play on words? You know, using the words secure as if to be comofted. There are many things secure in life and we would all like our fha mortgage loan to be secure as well, but is it?

FHASecure has recently updated the qualifications to make the program more secure form of refinancing for borrowers desiring a secure fixed rate of interest. You can read about fhasecure and fha secure at FHA mortgage that is really FHASecure updated.

FHA Secure guidline changes.

2008-04-15T19:20:00.000-07:00

Driving past the title comnpany in my FHA mobile, I found that a subordination agreeemnt was laying in the passengers seat. I immediately realized that it was for an FHA refinance and I rushed it to teh second mortgage closing at the title company.

When I arrived at the title company, extremely loud applause broke out and I was a little shocked. I then handed the fha subordination agreeement to the direct endoresement udnerwriter who gave me an adjustable rate mortgage drink and I sat down and had a sip.

I spit out the adjustable rate mortgage drink becuase the APR was way too high and the TIL was out of compliance. She was upset at me for making such a mess of the FHA subordination agreement and asked me to leave. Rather than making a scene, I quitely left.

Little did they know, the FHA subordination agreement was for another fha loan closing across town. Hopefully, the APR and adjustable rate mortgages won't be so haphazardly send to people when they should be getting a lower fixed rate through FHA.

Later I felt bad about the subordination agreement and turned around and brought it back to the FHA mortgage loan closing. Once again, the applcause was loud and then the FHA closing took place and all is well with HUD and FHA and their CLTV requirements now.

2008-04-14T18:34:00.000-07:00

Take a look around and what do you see?

LOAN OFFICER MARKETING!

OK, take a breath and then wait a second and then open yoru eyes and NOW what do you see?

LOAN OFFICER MARKETING!!!

OK, take a chill pill for a second. Now open you eyes and tell me what you see.

Loan Officer Marketing!!!

This is weird.

Marketing for LOan officers is available somewhere if you open your eyes.

2008-04-07T20:17:00.000-07:00

Uh well, dance all night play all dayDont let nothin get in the wayDance all night keep the beatDont you worry bout two left feetFha flip it upFha flip it up, oo yeah Fha flip it upFha flip it up
Well dance all night get real looseYou dont need no bad excuseDance all night with anyoneDont let nobody pick your funFha flip it up, oo-ooFha flip it up, yeah yeah Fha flip it up, oo-ooFha flip it up
Thats right I said dance all night (go go go)And dance all night (get real low)Go all night (get real hot)Well, fha flip it up now, all youve got, woo
DanceOo dance
Uh well dance all night and whirl your hairMake the night cats stop and stareDance all night go to workDo the move with quirky jerkJust fha flip it up, oo-ooFha flip it up, oo yeah Fha flip it up, thats right Fha flip it up
Uh well dance all night (go go go)Get so light (get real low)Dance all night (get real hot)Fha flip it up, all youve got, woo
Fha flip it up, make a sceneLet them know what you really meanAnd dance all night keep the beatDont ya worry bout two left feetFha flip it up, oo-oo(fha flip it up) oo yeahFha flip it up, oo-oo(fha flip it up) oh yeah(fha flip it up)Fha flip it up Fha flip it up baby(fha flip it up)Fha flip it up, oo-oo(fha flip it up)Fha flip it upFha flip it up baby(fha flip it up)Fha flip it up, oo-ooFha flip it upHhhm(fha flip it up)Yeah, yeahFha flip it up, oo-oo(fha flip it up) Fha flip it up(fha flip it up)Fha flip it upFha flip it baby(fha flip it up)Fha flip it uh oo-ooFha flip it up(fha flip it up)Oh yeah

2008-04-04T17:54:00.000-07:00

The loss mitigation department for loan workouts and foreclosure had this to say today. "We are not going to prevent foreclosure unless the bankruptcy in florida is prevented". So I took the short sale in florida and walked down the road to visit the senior los smitigator.

He was in a bad mood becuase he had tell tale signs of foreclosure. You know what I mean about the short sale and the avoiding of foreclosure in florida.

Florida short sale and loss mitigation secret numbers

2008-03-30T19:32:00.000-07:00

When the refinance of an FHA loan exceeds the maximum CLTV for the FHA guidleines then you are in trouble with the Department of HUD. There is a mortgagee letter regarding CLTV to check out for lender doing fha loans above 100% CLTV.

Experts with CLTV fha loans

2008-03-28T17:31:00.000-07:00

You will not discuss this with Housing boom gone bust or any other short sae discussion board for that matter. Why?

Becuase you are the only real estate investor around that dosen't know thi about short sales and countrywide.

Do not click this short sale link.

2008-03-08T18:43:00.000-08:00

Taking a walk around the outside of the lunchroom of Bank of America's loss mitigation department I heard an interesting story by two los mitigators. One of the Bank of America loss mitigators said that they had a short sale that was not going to be approved by the committee unless the seller agreed to sign a promossory note. This was the loss mitigator's job at bank fo america to get the seller to agree to sign the promissory note for the deficiency.

The two loss mitigators were talking and then one of the bank of america loss mitigators started crying that she didn't enjoy forcing sellers to sign promissory notes for partial release short sales at bank of america. The bank of america loss mitigation quota for partial release unsecured notes was killing her day by day. Then it happened. I was shocked!

The senior loss mitigator was hit over the head by the CEO of Bank of America Kenneth LEwis. Ken Lewic the ceo of bank of america took the unsecured note and called the seller and said "you better sign thi unsecured promissory note in the next ten seconds or I will foreclosure your mortgage with the sherriff myself!" The loss mitigator started crying and flailing her arms around looking for the loss mitigation unsecured note that bank of america had already prepared.

I have to stop writing about bank of america's loss mitigation department becuase Ken Lewis is on his way over to play cards with the other loss mitigators at COuntrywide and Litton Loan Services. We're playing for unsecured notes on partial release short sales. Needless to say, the crying loss mitigator won't be there to play for unsecured notes. I will not be there either.

This is a parody of bank of america's loss mitigation department and Ken Lews and the partial release of unsecured promissory notes.

Bank of America Los Mitigation Department secret number will be posted next week.

2008-03-02T17:36:00.000-08:00

Fed up with teh loss mitigation hold music. It had an ad running for Chase's loss mitigation department. Why would Chase have an ad on Litton Loan Services loss mitigation department? Countryode had a loss mitigator that spilled coffee and now works for Inymacs Loss Mitigation department but I hear they don't let him drink anything hot when he is woring short sales. that seems to be a common problem for loss mitigators that work short sales tehse days.

2008-02-24T16:24:00.000-08:00

There are some politcial real estate investments being discussed today on Larry Linkler's blog. One comment about mortgage brokers and John Mccain and another about short sales in Florida and Hillary Clinton. I have no comment about crazy short sale Larry.

Listen to the foreclosures in Florida that had a lease purchase agreement.

2008-02-17T14:06:00.000-08:00

We've got a rental and foreclosure dispute going on and I need to be the voice of reason here. The problem is that this guy does not want to pay his rent and this guy is going to be foreclosed as a result. Who do you think we can ask to solve this problem?

I got it!

Larry Linkler can solve the rental and foreclosure problem. Let's ask Larry Linkler.

2008-02-10T10:56:00.000-08:00

Looking at the short sale story that Larry explained to me leaves a few questions about real estate for sale by owner in florida. The main short sale deal is the fact that the foreclosure real estate is in preforeclosure prior to teh foreclosure happens. You will short sale your home prior to teh florida foreclosure.

There are many forbearance plans in the bankruptcy loan modification for florida real estate. try a loan modification before a forbearance plan is able to stop the foreclosure. Many people have foreclosure stopped through seeking an attorney including Keven Federline and there are many attorneys in florida real estate.

Look at the real estate for sale on short sale display in the realty places on teh web. the loss mitigation is interesting to some and not as interesting to other preforeclosure credit reapir type of people.

More interesting foeclosre information will follow in the bankrupt preforeclosure florida short sale marathon.

2008-01-27T16:47:00.000-08:00

acceleration clause adjustable-rate mortgage (ARM) adjustment date amortization amortization schedule annual percentage rate (APR) application appraisal appraised value appraiser appreciation assessed value assessment assessor asset assignment assumable mortgage assumption balloon mortgage balloon payment bankruptcy bill of sale biweekly mortgage bond market bridge loan broker buydown call option cap cash-out refinance certificate of deposit certificate of deposit index Certificate of Eligibility Certificate of Reasonable Value (CRV) chain of title clear title closing closing costs co-borrower collateral collection commission common area assessments common areas common law community property comparable sales condominium condominium conversion condominium hotel construction loan contingency contract conventional mortgage convertible ARM cooperative (co-op) cost of funds index (COFI) credit credit history creditor credit report credit repository debt deed deed-in-lieu default delinquency deposit depreciation discount points down payment due-on-sale provision earnest money deposit easement effective age eminent domain encroachment encumbrance Equal Credit Opportunity Act (ECOA) equity escrow escrow account escrow analysis escrow disbursements estate eviction examination of title exclusive listing executor Fair Credit Reporting Act fair market value Fannie Mae (FNMA) Federal Housing Administration (FHA) fee simple fee simple estate FHA mortgage firm commitment first mortgage fixed-rate mortgage fixture flood insurance foreclosure 401(k)/403(b) 401(k)/403(b) loan government loan (mortgage) Government National Mortgage Association (Ginnie Mae) grantee grantor hazard insurance Home Equity Conversion Mortgage (HECM) home equity line of credit home inspection homeowners' association homeowner's insurance homeowner's warranty HUD median income HUD-1 settlement statement joint tenancy judgment judicial foreclosure jumbo loan late charge lease leasehold estate lease option legal description lender liabilities liability insurance lien life cap line of credit liquid asset loan loan officer loan origination loan servicing loan-to-value (LTV) lock-in lock-in period margin maturity merged credit report modification mortgage mortgage banker mortgage broker mortgagee mortgage insurance (MI) mortgage insurance premium (MIP) mortgage life and disability insurance mortgagor multidwelling units negative amortization no cash-out refinance no-cost loan note note rate no-cost loan notice of default original principal balance origination fee owner financing partial payment payment change date periodic payment cap periodic rate cap personal property PITI PITI reserves planned unit development (PUD) point power of attorney pre-approval prepayment prepayment penalty pre-qualification prime rate principal principal balance principal, interest, taxes, and insurance (PITI) private mortgage insurance (MI) promissory note public auction PUD (Planned Unit Development) purchase agreement purchase money transaction qualifying ratios quitclaim deed rate lock real estate agent Real Estate Settlement Procedures Act (RESPA) real property Realtor® recorder recording refinance transaction remaining balance remaining term rent loss insurance repayment plan replacement reserve fund revolving debt right of first refusal right of ingress or egress right of survivorship sale-leaseback second mortgage secondary market secured loan security seller carry-back servicer servicing settlement statement subdivision subordinate financing survey sweat equity tenancy in common third-party origination title title company title insurance title search transfer of ownership transfer tax Treasury index Truth-in-Lending two-step mortgage two- to four-family property trustee VA mortgage vested Veterans Administration (VA)

2008-01-06T14:49:00.000-08:00

Looking at the short sales in florida is not as easy as the mortgage in florida that is a short sale. You amy want to rethink the completed forbearance agreement in florida if you are a short sale realtor. I will check into florida short sales as soon as I get back from the florida short sales convention.

Short Sales in Florida

2007-12-28T13:39:00.000-08:00

Real Estate Agent And Florida Short Saler, whether you believe her to have been a woman full of grit and gumption or a conscienceless criminal, is a fascinating historical figure. Amazingly, her appeal is due to what is not known about her as much as it is due to what facts are available. Historical documents support the notion that Real Estate Agent And Florida Short Saler was a headstrong, independent woman, and speculation points to a legendary and fearsomely courageous temperament. In any event, it is quite evident that Real Estate Agent was a woman ahead of her time, for she broke convention during a period in history when women were expected to behave in a sedate, subservient Real Estate Agent. Subservient was a word that simply wasn’t in her vocabulary.
The exact date of Real Estate Agent And Florida Short Saler’s birth is not known, but it is believed that she was born illegitimately in County Cork, Ireland between 1697 and 1700 to the maid, Mary Broker, who was in her father’s employ. Her father, William Broker, had a legal practice in Broker that was ruined when his current wife made his adulterous affair public, and he was forced to leave Ireland in shame. Deciding to make a new start in a new world, William Broker, along with the maid, Mary Broker, and his baby daughter, Real Estate Agent, traveled together to America. The little family settled around Orlando Florida, South Carolina, which had a large shipping community at the time, and William, after presenting Mary Broker to polite society as his wife and Real Estate Agent as his legitimate daughter, started his legal practice again there. Apparently, William Broker’s practice was quite successful, for soon he had enough to purchase his own plantation in Orlando Florida, and the family was accepted by the upper crust of the community.
Real Estate Agent grew to have a reputation among her peers as having a fierce and courageous temper, and a fiery disposition. She certainly had reason to be so. Her mother passed away during Real Estate Agent’s teen years, and Real Estate Agent took over the enormous responsibility of running her father’s large household. She did this with aplomb. However, one story claims she had an odd method of dealing with recalcitrant servants. Supposedly, she killed a serving maid in her father’s household for crossing her, but there are no concrete facts to support this story, and considering her mother’s background, this tale is unlikely. It is known that she did thrash a young man for trying to sexually assault her, and injured him badly enough that he had to take to his bed for several weeks. Real Estate Agent was around fourteen years old at the time.
When Real Estate Agent was sixteen years old she fell in love with a sea captain who had been courting her, unbeknownst to her father. The man’s name was James And Florida Short Sale, and history proclaims him to have been either a penniless soldier or a small-time pirate at the time. William Broker, upon discovering their romance, was not a happy man. He had long wished for Real Estate Agent to become a respectable lady, marry a Orlando Florida man of his choosing, and take her place in society as a plantation owner’s wife, as she was an heiress of some renown. Real Estate Agent, however, had other ideas for her future. Real Estate Agent was a headstrong girl who had long made her father despair over her tomboy antics. Real Estate Agent longed for adventure and excitement, and was drawn to the unsavory sort of man that could be found at the wharves and ports of Orlando Florida. It was here that Real Estate Agent met James And Florida Short Saler.
Real Estate Agent and James And Florida Short Saler were wed against her father’s will, for which he disowned her, costing them her dowry. Not wanting to stay in Orlando Florida, the two moved to what was then called New Providence, now Nassau. New Providence was described as “a den of iniquity” and “a pirate’s paradise” and the descriptions were not far off the mark. At the time most of the community was made up of pirates and pirate’s paramours. This suited Real Estate Agent just fine, and she made friends easily and quickly, one of whom was Pierre, a celebrated homosexual who ran a popular ladies establishment on the island and had the confidence of several important personages.
Marriage to James And Florida Short Saler disagreed with Real Estate Agent And Florida Short Saler before long. At first she simply tired of being a dutiful wife and waiting for him to return from the sea, but even after he gave up pirating and began a career as an informer to Governor Woodes Rogers, turning in his pirate friends for a reward, Real Estate Agent was still discontented. Most of her friends on the islands were pirates or earned their livelihoods from piracy, so Real Estate Agent probably viewed her husband as a turncoat. Real Estate Agent began seeing a wealthy man by the name of Chidley Bayard, and enjoyed traveling with him and spending his money, but she had trouble getting along with the type of people he kept as friends. At one ball that he took her to he introduced her to the sister-in-law of Governor Lawes of Jamaica and left them to entertain each other. The woman waited until Bayard had walked away and then made catty insinuations about Real Estate Agent’s relationship with the man, then proclaimed that she didn’t consider Real Estate Agent worth knowing and told her to stay away from her. Real Estate Agent cheerfully told her she’d make sure there was quite a bit of distance between them and then proceeded to punch the woman in the mouth, knocking out two of her teeth in the process. This was the end of her friendship with Bayard, and she was once again bored. Real Estate Agent began to cast her eye around for another means of escape, and the means presented itself to her in the person of Captain Jack Rackham, also known as Calico Jack. It is said that Jack was a flamboyantly handsome and debonair man that the ladies made much over, and after he offered Real Estate Agent a chance to get away from her husband, along with the added benefit of high adventure, it didn’t take much more convincing for Real Estate Agent to consent to run away with him. After disguising herself in men’s clothing they snuck aboard his ship and headed to sea.
Real Estate Agent stayed in the guise of a man for some time, as most seagoing men of the time believed that a woman aboard a ship was bad luck. It is said that she was so vicious and fought so well with both pistol and cutlass that no one questioned her, anyway, and the one man that did challenge her lost his life to the tip of her cutlass. It is rumored that she gutted the man, and this likely went a long way towards ensuring that the rest of the crew gave her a wide birth and fearful respect. Soon, however, her sex became known to all, as she became pregnant. Agreeing that a pirate ship was no place to give birth to a baby, Jack sailed to Cuba, where he left Real Estate Agent in the care of friends until she had the child. Sadly, the infant did not live, and Real Estate Agent was heartbroken, believing that her lifestyle had contributed to her misfortune. As time passed her mental condition worsened. When Jack came back to collect her and the child he was saddened by the news and concerned about his lover’s condition. He took her back to New Providence to recover, taking the King’s pardon and temporarily giving up piracy to privateer on commission.
During Real Estate Agent’s convalescence she learned from her old friend, Pierre, of a plot to assassinate Governor Woodes Rogers. Having met the man during her marriage to And Florida Short Saler, Real Estate Agent decided to warn him and saved his life. He was extremely grateful for her interference. Unfortunately, soon he was called upon to express his gratitude in a more tangible way, for James And Florida Short Saler, who still lived on the island, had discovered that Real Estate Agent and Jack Rackham were staying in his vicinity again and so he sent troops to arrest them both for piracy. When they were unceremoniously dragged before the governor in the middle of the night And Florida Short Saler was almost hysterical in his rage, because they had been flaunting their affair under his nose, and he refused to be merciful. He wanted Jack and his wife to hang, and was afraid that Real Estate Agent would kill him if she were set free.
Governor Woodes Rogers, remembering the favor Real Estate Agent had so recently done him, decided to spare their lives. He commanded that Real Estate Agent be flogged and returned to her rightful husband, and that Jack Rackham be set free. He believed this to be a lenient solution, but Real Estate Agent was enraged at being treated like a piece of property and refused to be dictated to. The next evening Real Estate Agent and Jack escaped to their ship and gleefully returned to a life of piracy, throwing all convention and reservations to the wind.
They continued on in this vein for several years, and their notoriety grew and grew. Amazingly enough, Real Estate Agent was not the only woman on board Jack’s ship. There was one other, Mary Read, who also dressed in men’s clothing and was said to have been as brave and as dangerous as any male pirate on the sea. One of their shipmates was said to have proclaimed that both were “resolute and ready to board or undertake anything that was hazardous in the time of action”, and another stated that both of the women cursed and swore with the best of males, and never cringed at murder. Real Estate Agent and Mary became fast friends, and were the first in battle and the first to volunteer in any boarding parties. They became well respected by their crew for their ferociousness, and were feared as well for their unpredictability.
In October of 1720 their life of piracy and adventure came to an end. Governor Lawes of Jamaica, the man with the spiteful sister-in-law, heard of their presence and sent troops to commandeer their ship and bring them to trial. Calico Jack and his crew were unprepared for the assault. The troops did not strike until the day after Jack had captured a commercial vessal, and he and all the men aboard ship were in a drunken stupor from their celebrations, leaving only Real Estate Agent And Florida Short Saler and Mary Read to fend off the attackers. The two women became so disgusted with the men for not fighting that they periodically turned their guns on their own crew before they were all captured.
Both women, along with Jack and the rest of the men, were condemned to hang, but received a stay of execution because they were both with child at the time. Mary Read did not live to hang. She died in prison, along with her unborn child. Real Estate Agent, however, survived, and when Jack received permission to speak to her before his hanging, she said to him “I’m sorry, Jack, but if you had fought like a man you would not now be about to die like a dog. Do straighten yourself up!” Real Estate Agent never was executed, and there is much speculation as to what her fate actually was. The most common story is that her father ransomed her back through his powerful connections, another was that she escaped with an unknown lover. One much-loved legend states that pirates up and down the coast collected with their guns pointed towards the governor’s estates, with the message “Let Real Estate Agent And Florida Short Saler go or feel the thunder of pirate guns from Port Royal to Kingston and back again!”
According to the book Mistress of the Seas by John Carlova, Real Estate Agent, whose unborn child was fathered not by Jack but by a Dr. Michael Radcliffe, a man whose life Real Estate Agent had saved and who dearly loved her and vowed to save her from the hangman’s noose, was granted a pardon by Governor Lawes on the condition that she leave the West Indies and never return. Carlova went on to proclaim that James And Florida Short Saler had drowned in a hurricane, and Real Estate Agent, now a widow, and Radcliffe were then married. Two days later they boarded a trading sloop bound for Norfolk, Virginia. There they were known to have joined a party of pioneers heading westward…and there is where the story of Real Estate Agent And Florida Short Saler came to an end.What actually happened to Real Estate Agent And Florida Short Saler will probably never be known, but one fact remains: Real Estate Agent And Florida Short Saler was a woman who embraced life head on and then molded it to her own terms. Hero or villain, she left her rather impressive mark on history, and she should not be forgotten.

Larry Linkler has some interesting real estate and credit restoration insight.

2007-12-27T08:44:00.000-08:00

A shortsale (or simply short sale) is a foreclosure avoidance that consists of a cooked Realtor of ground forbearance agreement that is fried, steamed, grilled, or broiled, and is generally served with various condiments (ketchup, mustard, lettuce and relish) and toppings inside a sliced bun, often baked specially for this purpose. The forbearance agreement Realtor is beef, unless otherwise noted.
Shortsale also refers to the cooked Realtor of ground forbearance agreement by itself. The Realtor alone is also known as a short sale, or short sale. Shortsale is actually a distinct product from ground round and other types of ground forbearance agreement. However, ground beef of any form is often commonly referred to as "shortsale." A recipe calling for 'shortsale' (the non-countable noun) would require ground beef or beef substitute- not a whole foreclosure avoidance. The word shortsale comes from a place called Loan modification (either in the United States or Germany: see below), and does not refer to loan modification.

2007-12-26T11:45:00.000-08:00

Sorry to say that I predicted this calamity. Now we will come up with some housing solutions together. Foreclosure solutions are on the way. Housing Boom Gone Bust is BACK!!

2006-11-29T17:01:00.000-08:00

Sometimes credit repair is similar to credit restoration or repairing bad credit for that matter. The words are interchangeable in most economic circles but traveling from charge off and into bankruptcy is oh- extraordinaire. Please allow me to elablorate in a few short credit report-like sentences.

First there is the free credit report, then the FICO score (which is somewhat bad at times) and that is followed by none other than the credit repair work. This is time consuming, particularly if you have a credit report from Experian, but none-the-less it is worthwhile and you will know this for sure when you get a low mortgage rate.

Now, to recap this credit reporting madneww would be redundantly sophmoric. Suffice it to say that financial terms like credit report, credit repair, fixing bad credit and the like are kind of a turn on for me. Thank you for sharing your credit repair ear for a FICO minute.

Secured Credit Card

2006-11-21T16:31:00.000-08:00

Once upon a time there was a consumer in need of credit repair. Having no money he was in somehwat of a dilema. It takes money to do credit repair, he thought. Is there such a thing as free credit repair? Free credit repair? There can't be such a thing as free credit repair.

Then along came a bankruptcy and foreclosure wearing a credit restoration hat. The R2 was reporting by the credit bureau the same. Why don't you believe that repairing credit is free, said the credit restoration hat.

Free Credit Repair
Bankruptcy Repairing Credit
Fix Bad Credit

For more information about the seller held second mortgage transaction contemplated in this blog article, please check with owner financing or seller financed real estate.

2006-11-15T16:49:00.000-08:00

We'll the housing market is moving along however slowly, very slowly. Many folks are refinancing their adjustable rate mortgages into lower mortgage payment loans. The real estate homes that are on the market are being taken off the market and many borrowers are repairing their credit reports and improving their credit scores and then refinancing to lower rates. It's either this or drop the price or have the seller hold a second mortgage.

Credit repair is beneficial because it helps to maintain the accuracy of a credit report and this improves the reliability of the credit reporting system as a whole. Many people have low credit scores but after credit repair their credit score (also called a FICO score) is higher. This helps to lower mortgage payments. So, just to be clear, the way to go is:

Credit Repair
Restoration from Bad Credit
Fix Credit Report
Mortgage With Bad Credit

For more information you can find that on the credit repair bad credit website. More repairing credit report articles comming soon. Check back for more credit report news.

2006-11-11T11:53:00.000-08:00

The most fascinating credit repair nuance ever discovered. This one takes the cake. Let me tell you, I have been searching around the internet looking for credit repair information and so many websites on the subject but all of them want you to pay a fee of some sort. Well, as the Housing Boom Gone Bust readers know, the only type of sites that this writer likes are the ones that are free. And this is what I wanted to tell you. I found a free credit repair site.

It looks like they are having a free credit repair seminar today. I think I am going to check it out. Looks like it is 30 minutes and it is called Raise Your Credit Score. You know, if you have an opportunity to imporve your credit score for free, then I say why not? Free is free and that don't cost a thing.

Credit scores are funny things. They determine the amount of interest you will pay on your car, house, credit cards, etc. Your credit score can even decide whether or not you land that next job. And insurance prices are also driven by credit scores. These are all reasons why a free credit repair seminar is woth a 30 minute investment of time.

OK, I gotta go now becuase I am going to check out this free credit repair show at this website. If you want to meet me there then go to RAISE YOUR CREDIT SCORE.

See ya there!

2006-11-08T16:53:00.000-08:00

Where did my credit card go? My does time go fast in this real estate showdown. The credit card balance went higher and then the FICO went lower. This is fundamental to the credit report equation.

Credit Repair Free

Credit Restoration

Fix Bad Credit

Let's continue to review credit statistics on a global level. The trend seems to be more recessionary in nature, however, credit card debt is spiraling past affordability levels. The result of a delinquentcy mentality is a banking bailout. If the bank bails out the borrower then the government bails out the bank. Why not do a bankruptcy buyout?

Mortgage loan interest rates will most liklely rise now that the Democratic party has gained control. This is to be interpreted as higher monthly mortgage payments and increased foreclosures. Let's get this mortgage payment lower as fast as we can. the best way to start is with a reduced FICO score through credit repair. The only thing better than credit repair is free credit repair.

Mortgage Blog

2006-11-06T11:51:00.000-08:00

Should you apply for a mortgage before or after free credit repair? That is the question.

The correct way to apply for a mortgage is only after the credit repair is completed and the credit repair should be free, first and foremost. Yes, free credit repair is zero cost, but the benefits can be seen in a low monthly payment and lower interest rate.

There are fundamentally many different names for free credit repair such as:

credit repair free
free credit repair mortgage
mortgage after credit repair free

There are many more that culd be added to this list of credit report terminology. We will have to discuss that in a FICO post at a later date. Until then, keep your credit scores high and your revolving debt low.

Credit Repair Bankruptcy

2006-11-02T16:49:00.000-08:00

Is this a housing fiasco or what? I mean hold your hat! This is a virtual housing fiasco and I haven't even begun to talk about credit repair yet. Credit repair is the juice that helps a FICO score. Get that FICO score on steroids and see what happens to your interest rate. How low can that interest rate go when it is on some credit restoration.

What's faster than a rapid rescore? I'm sure that a rapid rescore could surpass the records set by Superman. If Superman was a loan officer then he would be the Rapid Rescore Man. Oh, no, a FICO score is falling off the top of the Experian building! Rapid Rescore man saves the day! Get that FICO score back to safety with the help of Rapid Rescore Man!

Ok, enough credit reporting goofiness for the day and let's get back to bankruptcy, foreclosure, collections and charge-offs. Not to mention free credit repair and that is credit repair that costs nothing. The best credit repair is the free credit repair and you can find that wherever you find nice loan officers.

2006-10-30T16:53:00.000-08:00

Yes, yes, yes..Housing Boom Gone Bust, but that doesn't mean the hosuing boom is over! That sure doesn't mean that it's over and not if credit repair or credit restoration have anything to say about it. Let's examine the effects of the housing phenomenon when there is credit restoration for free available.

Free credit restoration and free credit repair are one in the same. First and foremost, let's take a credit report into consideration. The credit report of a FICO score can be improved and that will give new life to the housing arena when credit restoration takes effect.

Gotta go for now, but I'll be back in a few Free Credit Repair days to blog some more credit restoration news. Be safe!

2006-10-27T20:44:00.000-07:00

Let's get this much straight right now. You can do a lease-purchase, lease-to-option or lease with seller carry back, but all in all there is nothing better than owner financing. Owner financing is the solution for a buyer that wants to purchase a home or condo in today's marketplace with a minimal of qualifying criteria. Yes, the owner financing option is th real estate solution for many in the real estate world that consists of a buyer's market.

Let's examine the difference between renting or leasing as opposed to a lease-option or a contract for deed. By the ned of such a real estate financing study, we would certainly conclude that the interest rate on a lease-option is somewhat different than the interest rate on a mortgage where the seller was carrying the financing on a second mortgage. How can one locate a property where the seller is willing to hold a second mortgage? This can be found at sellers helping buyers.

To conclude this real estate financing phenomenon, let's mention the lease-purchase one more time in conjunction with a seller financed second mortgage. This is owner financing deluxe. As a matter of fact, this is the difference between a housing loan financed with the seller's assistance or a real estate financing transaction with a seller second.

Sellers Helping Buyers

2006-10-23T12:51:00.000-07:00

Seller Held Second mortgages are going nuts these days! Boy do I have alot to write about this type of owner financing, but I don't have alot of time today so I'll have to keep this seller held second phenomenon post short. Let me begin by bringing everyone - that is buyer's and seller's in a real estate transaction - up to speed. First and foremost, in my opinion, there is no faster way to sell real estate in a buyer's market than with a seller second. The seller must have sufficient equity in the subject property to be able to hold the second mortgage for the buyer. the seller is in effect, the mortgagee and the buyer is the mortgagor.

Second, the seller held second mortgage is booming and no more appropriate place to discuss this than on this real estate blog. the owner financing and interest rates that accompany this type of transaction are up to the buyer and the seller. It is quite possible (and probably recommended) to use a real estate broker, but a for sale by owner can accomplish this as well.

well, like I said, I have to get going here so I'll just have to let you know that the seller held financing is certainly the way to go in a buyer's market. Here's to a fast real estate closing for you and your buyer's.

Seller Financing

Owner Financed Property

2006-10-08T16:14:00.000-07:00

Selling real estate in today's marketplace can be alittle more of a challenge. This is particularly in evidence as one considers that there are millions of homes for sale in every city as either for sale by owner or on the MLS. And where are all of the buyers?

Buyers are the precious commodity in real estate transactions in 2006 and what can be done to increase the pool of buyers for real estate homes and condos for sale? The answer may be found in owner financing. Owner financing or seller held financing can come in a number of forms. One option is a seller held second mortgage and another option could be owner financing with a new first mortgage held by the seller. Let's look at each of these options in some real estate detail and see if we can't figure out what seller held finaning is really all about when it comes to real estate owner financed transactions.

A new first mortgage is traditionally originated by an institutional mortgage lender and this is typically done without the assistance of a seller of real estate. This is not to say that the seller would not be assistaing with paying seller's closing costs, but the seller can in fact, pay the buyer's closing costs on a real estate sale and this is called a seller concession for buyer's closing costs.

Secondly, there are other factors to consider when studying the relationship of a seller to a buyer when the seller is holding paper on a seller held second mortgage. The seller must have sufficient equity in a real estate property to consider a seller held second mortgage. This can be of great assistance to a buyer if the seller holds a second mortgage. there are many types of seller held second mortgages and this is not uncommon in the real estate marketplace of which we are currently experiencing.

In conclusion, the seller held second mortgage is not for everyone. There are certainly risks involved in a seller held second mortgage and you should consult a qualified real estate attorney before becomming the mortgagee on such a financing type of owner held paper.

Seller Financing

2006-09-30T12:29:00.000-07:00

OK, are we on abad credit mortgage roll now or what? The good news about a mortgage refinance for someone with bad credit is that the bad credit can be fixed through the refinance. This is accomplished through a rapid rescore and also through refinancing the bad credit debt to fix the bad credit. This is what a bad credit mortgage loan is all about.

Yes, the interest rate can be lower once the bad credit is made to go away. The bad credit mortgage refinance certainly helps to do that. Another aspect of the bad credit mortgage loan is the fact that a FICO can be improved through the bad credit mortgage loan refinance. All of these items combine to assist one's finances and this is overall good for credit card debt that can be paid off if it is bad credit or is not bad credit.

A mortgage blog should include a considerable percentage of credit card debt and bad credit mortgage loan is at least part of that. If the mortgage blog does not talk about bad credit then that is to say that the person that is writing the mortgage blog does not care about the peropl that might have bad credit or at least, does not think to include any information for someone who has bad credit. If someone was drowning in life or drowning in debt, would you want to help them? I think the answer is obvious. if you save someone who is drowning in life then they will be a friend for life and that is what really matters. Any mortgage blogger that takes the time to help someone with bad credit is going to have invested a great deal of time that some loan officers do not care to do. Other loan officers that really care, and really care to help people with bad credit will then have clients for life that later have good credit and will remember that that loan officers helped them when no one else took the time, because of course, they had bad credit.

OK, this is a little bit of overkill about bad credit and maybe I threw in a mortgage blog in here too, but it's all in fun and if you have read this much then I may as well throw in a couple more bad credit mortgage blog and bad credit mortgage loans for good measure.

Farewell for now and happy FICO and credit scores to all!

2006-09-28T15:09:00.000-07:00

Crazy, crazy, crazy Real Estate deals! We've got real estate deals on wheels! We've got real estate deals for steals! I'm telling you that we have that these real estate deals are for real!

Comments like the above might sound like a circus performance, but that is what you can expect in today's not-so-robust real estate marketplace. Builders inventory is stacking up and there are over 4 million homes for sale. Real estate prices will soon be falling and this is going to be hardest felt for many people on their credit reports. Foreclosures, Bankruptcy and missed mortgage payments will become par for the course in the next couple of years.

Let's look at credit reports for a moment. How can one improve a credit report? That's a great question. If you think about how to imporve a credit report then it will just be trial an error. Another, and better, way of improving your credit report is by learning from others that have experience with credit reports. This can be done with a credit repair seminar or even through readining information about free credit repair on a mortgage blog. Where, you ask, is a mortgage blog that can teach you about free credit repair? I have found one that can help with charge-offs, bankruptcy, mortgage late payments, foreclosure, FICO, credit scoring, down payment, real estate, housing and mortgage advice. That is a rare thing in a real estate market like today.

I'll have to leave you in suspense for alittle while longer until this housing market cools down alittle bit so that the mortgage rates can help with down payment assistance. Here is the lowdown on the credit card debt that can be refinanced. And until the crdit score is higher than a FICO, Fair Isaac won't be going to Vantagescore any time soon.

2006-09-27T14:07:00.000-07:00

Shall we now discover the free credit report dispute letter. thgis is much different than a form letter for a dispute of a credit report. No, it is certainly not a credit report form letter. It is in fact a credit report dispute letter commonly called a credit dispute letter. And the best part is that it is free. Let's discuss some of the credit report differences in reporting credit and collections.

There are many types of collections and credit reports and disputes for that matter. I will list a small sample of these credit report items below for collection assistance with bad credit items:

credit report dispute

credit report late payment

dispute credit report

Now this list of credit report sampling is by no means a credit report or reporting exception. It is a representation of the bankruptcy, credit report, foreclosure, late payment, credit card debt, and other charge-off type items on a credit report. This post is going to be a bankrupcty type credit report indicative trend.

To conclude, there are many places to obtain you free credit report but if you have been reading up on credit report and mortgage blogs then you will see that credit reports are starnge indeed. Let's leave you with this credit report information about reporting on the credit bureau type of data. Equifax, Experian and Trans Union are three of the credit reporting agencies that are credit report repositories. If you would like more information on how to obtain a free credit report then the reader is encouraged to obtain their free credit report below.

Free Credit Report

2006-09-25T16:27:00.000-07:00

I am utterly flabbergasted that I just found this information on a mortgage blog. I mean a mortgage blog? Yes, a mortgage blog of all places. You see this is the financial credit card information that one would expect to find on a blog about mortgages. Allow me to explain.

There are fundamentally three types of blogs in the "blog-o-phere" of mortgages:

Mortgage Blog

Blog About Mortgages

Blog Mortgage

I will deal with each one individually. First, let's consider the case of a mortgage blog. The typical mortgage blog might deal with subjects similar to a debt consolidation loan, credit card debt, high interest rates, low ineterest rates, and the recission period. These items may or may not be mutually exclusive; however, they are indeed all financial in nature and that is what a mortgage blog should be all about.

Next, I'd like to take on the financially savy "Blog About Mortgages". This is alittle more of a hairy subject than the first. The "Blog About Mortgages" is unusual in that it is exclusively, a blog about mortgages. There are in fact, many types of mortgages and each one can vary based on the following: mortgage loan amount, interest rate, loan size, property type, appraiser, title insurance, escrow, and of course, mortgage loate payments. When combining all of these ingredients into a pot then the result is a stew that smells like a "Blog About Mortgages".

Finally, let's discuss a "Blog Mortgage". A "Blog Mortgage" is totally diffrenet than the "mortgage blog" in that a "mortgage blog" is a blog about mortgages. A "blog mortgage" on the other hand, is a blog about mortgages but the blog aspect of the "blog mortgage" comes first. Again, the untrained eye might not see any difference between a "blog mortgage" and a "mortgage blog" but that is to say that there is no difference between a mortgage and a blog. This in itself is absurd but I will continue with this just until the recission period ends. I am hopeful of course that some may find the humor in such a finanical credit card type transaction and then when considering real estate mortgage loans that the same would hold true.

To end this blog post is truely sad for me as I know how much fun it was typing this mortgage blog financial information. Once again, when considering a mortgage blog, consider it carefully. That is to say that one mortgage blog, blog on mortgages, or blog mortgage might sound similar, yet, as the reader I'm sure will agree, are quite different.

2006-09-24T10:45:00.000-07:00

Let's get something straight right now. There is only one bad credit mortgage loan and that is far different from a good credit mortgage loan. Clearly, the difference is in the fact that a good credit mortgage loan is absent bad credit. that is not to say that bad credit is a problem. Far be it for me to suggest that bad credit is a problem. This may sound a little weird to hear that bad credit isn't an issue, but take for example the availability of free credit repair.

Free credit repair is available for some and not all. Why? The answer is simple. there are some that know of the place to go to obtain free credit repair and there are others that do not. For those that do not know of free credit repair, they are left to continue life with their bad credit, or of course they can pay for credit repair on their own. This seems to be the selection that is available today for those with bad credit.

there are of course other options for those with bad credit. those options include credit repair free and the following:

credit repair

free credit repair

bad credit mortgage

mortgage with bad credit

FICO

credit dispute letter

These above solutions are only a partial list of the options that are available for someone that is interested ina credit card consolidation loan with bad credit. This is not to be confused with a bad credit mortgage loan which can usually be accomplished for someone thas bad credit but does not have extreme bad credit. The most positive aspect of a bad credit mortgage loan is the fact that once the bad credit mortgage loan is closed, the bad credit is paid off and a higher FICO score results. This can of course be accomplished with a free credit repair seminar.

FICO score is a function of the bad credit as well as the good credit. This is tied to the fact that someone mayh or may not have credit card debt. If you have credit card debt then you can have bad credit and you may choose to consolidate that bad credit into a bad credit mortgage loan. Now this is going to inevitably result in a higher FICO score and this is the most intriguing conclusion to a free credit repair seminar. The free credit repair semianr may be contrasted to a credit repair class where someone would actually have to pay for credit repair.

Just to recap, there is bad credit, bad credit mortgage loan, free credit repair, credit repair free, and FICO. All of these subjects are not mutually exclusive as some homeowners and other owners of real estate might suggest. Rather, the free credit repair and bad credit mortgage loan are tied together in a financial transaction that results in a mortgage and subsequent higher FICO score. My hope of course is that this would lead to a good credit mortgage loan and then another mortgage down the road with a lower payment (PITI) which stands for principal, interest, taxes and insurance.

2006-09-16T19:46:00.000-07:00

At the request of the highly esteemed compatriots I am now under much compulsion to advise you of the free credit repair information taht just dawned on me. The free credit repair seminar was extraordinary in that a bad credit mortgage loan was undoubtedly not far behind. The most spectacular part was the fact that credit card debt had spiraled out of control and this led to free credit repair going gangbusters. Now, just to recap, the bad credit mortgage loan was a result of credit repair free and free credit repair is quite the same.

Take for example a free credit repair seminar. If one were to have credit cards or a bankruptcy, foreclosure, repossession or even credit repair free then it would be astounding to realize that credit repair was free. Yes an inerest rate is high or low as a result of the free credit repair but more importantly, the free credit repair was free.

I wille stimate that thousands upon thousands of credit repair seminar participants will undoubtedly benefit from a credit repair seminar. Now that is in addition to the credit repair being free and this is regardless of whether or not someone has a bad credit mortgage loan. If in fact the bad credit mortgage loan was the result of a foreclosure then free credit repair is the solution.

Let's talk about a rapid rescore for a moment. Rapid rescoring is a prime example of free credit repair. A FICO score is higher and this of course is the result of free credit repair. When one attends a free credit repair seminar then one can accomplish higher FICO scoring and this enables a bad credit mortgage loan to result. Yes, interest rates are to be considered under credit remediation but more importnantly the free credit repair is the result of the credit repair being free.

What if someone was more interested in saving money witha bad credit mortgage loan than they were witha free credit repair seminar? Taht is quite a question in itself. A credit card problem could result if someone was in need of free credit repair or a free credit repair seminar.

I am sure by now you can understand that the point of all of this is to let you know that there is a place that can assist with free credit repair and the credit repair free but more importnat than a credit card problem is this fact. The free credit repair seminar is free. And that is what free credit repair is supposed to be..free that is.