WASHINGTON, D.C. (CNNMoney.com) -- A bold new proposal to combat foreclosures was unveiled in Washington on Thursday.
The plan, dubbed "Help Now," was floated by the National Community Reinvestment Coalition (NCRC), a nonprofit community advocacy group. It calls for the government to buy up at-risk loans, restructure the terms to make them affordable and sell the reworked loans back into the secondary market.
I have noticed that there are a lot of peeps on here that are new to the REI area. Most, I would say. But I also keep noticing that when looking for potential properties they are all across the board.
To find a great deal, you first have to be able to identify a great deal. In order to do that you must realize that just because it sounds good and looks good it still may not be good for you.
First, set the criteria for the TYPE of properties that you are looking for such as, SFR (Single family Residences), 3-4 bedrooms, 2+ baths, 1400sq/ft minimum, on the West side.
Ed is going into forclosure. His house if in the millions though and he can't come up what he owes.
I have just been reading a report on FORBES regarding scams that are taking advantage of people who are losing their homes in a Foreclosure. Although this is not what Dean is teaching us, it will have a negative effect when we approach people to help them out of their foreclosure situation.
By Jeanne Sahadi, CNNMoney.com senior writer
First Published: May 20, 2008: 10:14 AM EDT
The Senate Banking Committee voted 19-2 to pass a bill to limit foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.
AP
Homes facing foreclosure more than doubled in 1Q from 2007
Tuesday April 29, 6:18 am ET
By Alex Veiga, AP Business Writer
Number of US homes facing foreclosure jumps 112 percent in first quarter from 2007
LOS ANGELES (AP) -- The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder, a research firm said Monday.
If any one wants a condo on the beach now is the time
in South Alabama. Gulf Shores has over built condos
in this area. There is an ABSOLUTE AUCTION FOR 30
CONDOS IN GULF SHORES, ALABAMA ON MAY 3 2008.
These condos are new and were selling for $450,000.00
and now you maybe able to get one for $300,000.00 or
less. There is no web site for this, but for more
information call this number 1-800-445-6597.
See you at the auction on May 3 2008.
Just wanted let everyone know.
Regards,
Fipp
The the third quarter MBA report stated:
"63 percent were cases where the borrower did not live in the home, the borrower did not respond to repeated attempts by the lender to contact them, or where the borrower failed to perform on a repayment plan or loan modification that was already in place"
VERY MOTIVATED SELLER!! Must sell within 2 months!
I know Dean Graziosi investors are smart enough to not let this pass. How about you Dean?
Gorgeous estate Property Appraised at $ 2.8 million
Seller willing to sell for only 1.95 Million, if cash and closed quickly.
IN GREAT CONDITION ALREADY!! Seller has ALREADY found a RENTOR, who has offered to pay $7,000 mth.
Needless to say this is an incredible and rare investment opportunity for anybody! This estate will inevitably sell for over $3 Million as soon as the market bounces back, reaping the buyer an earning of over 1 Million!!
I have heard that some states are passing legislation that discourages investors from renting the property back to the homeowner. If this is true, is there a list of such states? Also, why would the state government do such a thing.
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?