Want To Avoid Foreclosure? See A Counselor-Yeah If You Have A Job But What If You Don’t

I just read a recent article that basically advised people to go see a counselors if they are in foreclosure. The article basically said that anyone facing foreclosure would be better off if they did because they would be 60% more likely to keep their home and reduce their mortgage payment by an average of over $400 dollars according to recent study on loan modifications.

Now in case you don’t know, in order to qualify for a loan modification you must show the ability to continue to pay on the note by show proof of income for a job or a pension etc. Let’s go back to when the foreclosure crisis started and this was said the main cause of the foreclosure crisis was due the sub prime mortgages and the fact that the mortgage payments skyrocketed to the point where homeowners could not afford them. Most times, the mortgage payments would increase two the four times the original amount. So even if you had a job, there would be no way you could afford to pay on that note. Back then people had jobs so a loan modification would have been a viable option.

Let fast-forward to the present and look at what has happened since the foreclosure crisis began. We now know the foreclosure crisis was not due to the sub prime mortgages failing. Nope, the foreclosure crisis was really due to greed within the finance industry and lack of corporate and government responsibility. As a result, we are experiencing a total collapse of the economy where hundreds of thousands of people are losing their jobs or can’t find work. And, as a result they can’t afford to pay their mortgages. So really, telling people to go see counselors to work out a loan modification when they don’t even have job is Not the best advise to give someone.

I think this article is an insult to people who are going through a difficult time in their lives because it don’t really help the homeowners who are in foreclosure do to loss of income. Mainstream media seems to forget the human side of a story to make headlines and it seems to be the case here.

That said I would like to offer some helpful advise for those homeowner who can’t qualify for a loan modification. First, the most important thing that you absolutely must do as a homeowner in foreclosure is educated your self on the foreclosure process and your rights as a homeowner. I say that because everyday more and more mortgage lenders are getting exposed for the questionable lending practices that they conduct over the years. Many lenders are facing class action suits because this. Just do a Google search and you will see what I mean. One place you can start is to get a copy of this free report Secrets Lenders Don’t Want You To Know. This report outlines some ways that you can find out if your lender even has the legal right to foreclose. You may find out that your lender may NOT have the right to do so.

Just log on to http://gofightforeclosure.com/freereport.html

How To Make More Money Buying Bulk REOS and Note Pools

There is no doubt that with the onslaught of bank foreclosures there is plenty of inventory to buy. If you are in the market for bulk REOs or performing and non-performing notes pools now is a good time to invest. However, getting real inventory from a bank that is willing to play ball may prove difficult unless you have already established a relationship with that bank. If you do manage to get a bank to provide you with a portfolio of REOs or notes and to manage to get it at good discount you have a now have the assets to resell for a 5-20% profit maybe more or hold them for cash flow. Congrats

Both investment strategies are can reap handsome returns when you are deal in the tens to hundreds of millions of dollars. The downside to buying bulk REOs and notes is that the cash flow or return on investment will mostly depend on the market. For example, if you are a flipper, your return on investment depends on how fast your end buyer buys or if you buy and hold your return on investment depends on the rental markets and the tenants’ ability to pay on your properties and the borrower ability to pay on the notes.

Now contrary to what you maybe hearing on the news the economy is tanked to due to the record high employment rate. So a lot more people don’t have to cash to buy or just make those payments. Also to lending across the board has come to almost complete stop therefore capital to investment is hard to come by or very expensive to get. There is a way to address these issues. Either the way risk and reward factor is definitely swinging more toward the risk. There may be a solution to this pitfall though.

Why not invest in such a way so that you can profit from multiple streams of income while acquiring the assets you seek at a much better discount? This is quite possible to accomplish this, while investing the same amount on capital. Think about it. Instead of spending $10M or more for the a REO package or note pool, why not buy the bank along with it’s assets. Doing so will allow you to:

· Recoup your investment from day one
· Acquire bank assets for much less than you would if you bought just the assets
· Gives access to nine times more capital then using your own investment capital
· Takeover a massive profit center from the interest and fees the bank generates
· Instantly increase the value of the bank the minute your buy it by a third or more
· Get the inside track to purchase more banks after you buy your first one.

In case you haven’t notice over 80 banks have failed this year so far and more failures are expected to come. Most banks would rather try to sell their financial institution rather than let fail and have the FDIC take it over.

So there are plenty of opportunities out there. I know of one bank that was for sale for $10M with over $100M in assets! Banks are buying selling on a daily basis. As a matter of fact, this is how a lot of banks used their TARP money if you ever wondered where some of that $700B went.

Now you won’t here of a banking centers publicly listing their banks for sale because they don’t want their investors to know that their investments are at risk basically. These deals happen within the very closed circles. That doesn’t mean that you can’t pay this game too. The trick is getting in those circles. Once you are in those circles, you will have access to many more inside deals that can reap you huge returns.


If you would like more information about buying banks please email me at kyleransom@directreoandmore.com

The Real Reason Why The Foreclosure Crisis Is What It Is.

Lack Of Legal Assistance and Republican Policies.

Foreclosures Are Not Enough For Banks- They Want ALL Their Money

In the past few years, mortgage lenders foreclosed on a property and let the ex-homeowner go in peace.

Now however, it looks like more and more lenders aren’t satisfied with foreclosing on a homeowner and selling off the property and netting back most of what is owned on the note. There are more and more lenders taking legal action to try to collect the rest on the monies owed on the first note and even trying to recoup the balance owned on the second note as well.

This after the banking industry received o take a several billions of dollars to “bail them out”. Yes, mortgage lender do have the legal right to collect any monies owned even after foreclosing on the property but do they have to mash these homeowners who already lost everything? It’s pretty obvious that they have no means to pay that money back. I think sometimes mortgage lenders need step back and look at doing what is right. Trying to collect from homeowners who just lost their homes is already devastating enough. Why not let them go in peace and get on with their lives?

Now for the homeowner who may be receiving collections notices from their lender after foreclosure has taken place, you should look at your legal options. It may be a good idea to understand the foreclosure process and find ways to use the law to your advantage. After all this is what your lender is doing with you. You may be surprised as to how much leverage you may have once you do a little research.

A good place to start is get my free report Secrets Lenders Don’t Want You To Know. This report outlines some very effective ways to challenge your foreclosure even after you’re lost your home. I urge you to check it out.

Read The Whole Story Here

The Wealthy Now Welcomes Habitat For Humanity With Open Arms

I am happy that the wealthy in Marin County decided to let Habitat for Humanity come into their community and do something about the blight of vacant homes that are turning up there. I guess the residents realized that if they didn’t do something that the property values would plummet. The truth is they probably will anyway because Habitat for Humanity buy properties, rehabs them and makes them available to low income families. And that is just a big no-no when it comes maintaining property values.

I wonder how Marin Co resident will take to their new low income neighbors. Either way I think it’s a wonderful jester that will hopefully create a win-win for everyone.


Read The Whole Story Here

This Could Be The Best Online Business For Affiliates

If you are an affiliate marketer this new affiliate program could be the best online business for you. The reason being is that the program taps into a huge market with a huge need. Here is what I mean.

There are 6,000 foreclosure filed every month nationwide. A foreclosure is filed every 16 seconds nationwide. Many banks are just slammed with the overwhelming demand of homeowners requesting some assistance through loan modification and truthfully most lenders are not prepared to handle this demand. Plus lenders aren’t really motivated to offer loan modifications anyway because they lose money.
Consider to that the most widely talked about solutions to stop foreclosure like loan modifications and chapter 13 bankruptcies require that the homeowner earns an income. Sadly, the unemployment rate is at an all time high so unless they didn’t lose their job or are getting income from so other means like and investment account or a pension more and more homeowners won’t qualify for these options. Overall less that 30% of all homeowners who try to get some assistance through normal channels are actually NOT getting the help they need.

As you may have noticed that are hundred of thousands of homeowners who are on their own without knowledge of any other options they may have to save their home. The Ransom Fight Foreclosure Quick Guide Affiliate Program offers a way for affiliate marketer to tap the huge market and offer alternative solutions for homeowners to challenge their foreclosure and save their homes. So affiliate can not only make money but help thousands of people. This is why I think The Ransom Fight Foreclosure Quick Guide Affiliate Program could be the best online business for affiliates.

To Learn more click here => http://bit.ly/quickguideaffiliate

The Real Reason Why The Obama Adminstration Is Facing New Pressure On Foreclosures

I Think this video says it all as to why The Obama Adminstration is facing so much pressure on how they are handling the foreclosure crisis. It didn’t help that Timothy Geithner state that over a half million homeowner will be participating in HAMP this month. Whether that statement is accurate or not in unclear but one thing is for sure a half million people are not getting the help they need. This video states that people drove for hundreds of miles just to receive some assistance. One gentleman had his loan modified, paid on his note for two months and still got a foreclosure notice.

Understand that is not a bashing of President Obama. I think he is one of the most compassionate presidents we have had in a while though I don’t agree with all of his policies. These recent turn of events were put into motion long before Mr. President took office. No, this is more of a reality check for all Americans. I urge you all not accept what is being fed to you as solutions to your financial woes and become educated on the foreclosure process. There many interesting events that are going on right now that actually give you as a homeowner more power that you might realize.

Now is the time to use that power and level the playing field. Big banks are not playing by the rules and they are getting over on us. How long will you let them?

To learn more about how you can level your playing field grad a copy of my Ransom Fight Foreclosure Guide. http://gofightforeclosure.com/

There's No Recovery Here