Misc News

If a sale is consummated, the borrower walks away without a completed foreclosure on his record, and the bank disposes of the property without ever taking possession of it and quickly removes the nonperforming asset from its books

Short sales are often the best solution for all as lenders avoid the costs involved with foreclosure and borrowers are relieved of the responsibility to pay off the balance of a loan.

It can be a lucrative business if you know the market, and the laws in your county and state.

It is possible for you to earn big profits with short sale deals 15 to 25 percent on average.

Mistakes

Investors inexperienced in the area of short sales often make some common mistakes.

A frequent mistake among beginners is low-balling. You’ll have a greater chance of success through valid, properly constructed offers.

Not doing your homework first.

Not identifying the right lender or servicer.

Failing to contact and properly negotiate with junior lien holder.

Unreasonable offers.

Improper documentation

Sending offers blindly to loss mitigation departments without securing appropriate contact information first.

No one needs sympathy because they have to work. Far and away the best prize that life offers is the chance to work hard at work worth doing.
Theodore Roosevelt

Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent.
Carl Sandburg

Discipline is the refining fire by which talent becomes ability.
Roy L. Smith

U.S. Calls for Homes With Chinese Drywall to Be Gutted
By Mekanie Trottman
The Wall Street Journal
April 03, 2010

Homeowners should remove potentially defective Chinese drywall from their homes to prevent health and safety problems linked to noxious emissions, U.S. regulators said Friday.

The Consumer Product Safety Commission and Department of Housing and Urban Development disclosed new information they said indicated that certain Chinese drywall emitted hydrogen sulfide at rates 100 times that of non-Chinese samples, far more than earlier thought.

We are not at our best perched at the summit; we are climbers, at our best when the way is steep.
John W. Gardner

Before asking for the help I need, I would like to take a few minutes to thank Dean and the DG family.
I feel so empowered since I bought Dean's books, read them and being present on this site basically everyday.
I honestly can say that being here for a month and half now, I have grown in confidence and determination. I have learned more here than with "Gurus" out there. Thank you Dean for being the kind of person you are.
I would also like to thank the DG family. Your encouragement and desire and eagerness to help makes me belong here.
Now the help I need. I have been taking action on what I read. I learned that without action there will not be a result or I should say outcome. Dean said if you do not take action you have already failed.

Mega Sign Stirs More Debate
Plan to Save 'Hollywood' Comes With a Hefty Price Tag; Tom Hanks Chips In
By Tamara Audi
The Wall Street Journal
March 20, 2010

LOS ANGELES—This city has complicated feelings about big signs.

Some people hate the signs—known as "mega-graphics"—that wrap advertisements around buildings.

But many of those same folks love the sign that spells "Hollywood" in white, 45-foot-high letters in the hills above the city. One group is trying to raise $12.5 million to keep developers from building houses nearby.

So when SkyTag Inc., a Beverly Hills-based company that owns some of the mega-graphics, offered the money needed to buy and preserve land around the Hollywood sign, it touched off debate about what price the city is willing to pay.

This is the guy that got me into real estate. He is a pretty cool guy. http://sidewalkfarmer.blogspot.com/ His name is Willie Herath.

One of the projects he is currently working on is becoming totally self sufficient through farming the ground between the sidewalks and the street in Los Angeles. Here is the challenge....

Is sustainable urban farming possible? Well, I've given my family of four a challenge to be 100% sustainable in three years or less. The only land we'll have to grow food is between the street and the sidewalk. We might be successful, but we hope to inspire you to farm your sidewalk!

Goto the blog and follow along!