What is a Short Sale?
A Short Sale is a real estate transaction in which the revenues from the sale fall short of the balance owed on a loan secured by the property sold. They have become the order of the day due to the financial hardships experienced by homeowners whose mortgages are upside down and can no longer make their mortgage payment for one reason or the other. Instead of letting the bank foreclose and ruin their credit, homeowners are now opting to get one… Continue
Added by Owen McGab Enaohwo on September 30, 2009 at 7:35pm —
Loan modification is quickly becoming a household word, commonly used and understood by almost everyone. And yet there are many misconceptions and myths about home loan modification that are still commonly held.
Home loan modifications have always been around, but most people don't even know they existed until recently.…
Added by Jennifer Griner on September 30, 2009 at 4:27pm —
Believe or not... You can become a real estate investor even in today's real estate market.
There is an old Chinese proverb that says, "Where there is Chaos there is Opportunity
The time to get into real estate is NOW
. During the depression more millionaires were created in that time than anytime before and the opportunity to create great wealth has come around again
Added by Jennifer Griner on September 28, 2009 at 4:27pm —
Since 1999 Creative Financial Solutions has offered fast cash for real estate notes
nation wide. If you, or your clients have seller financed a property, and taken back a first position real estate note and now are in need of cash for any reason, we can help. Creative Financial Solutions offers a number of options when it comes to selling your real estate note. You may… Continue
Added by Marc Faulkner on September 27, 2009 at 8:55pm —
When you meet me, if your first and immediate impression is, "Tonja certainly doesn't sugar coat much of anything," I will compliment you for being an excellent character judge and personality analyst. Camouflaging or bending the truth has never been my approach, simply because I don't believe that adding a sweetener profits you in any way
, manner or form. And I am certain that sugar coating the truth serves neither me nor the planet.
Instead, I… Continue
Added by Jennifer Griner on September 25, 2009 at 11:17am —
Visit our collection of Backyard Wealth Funnies
for more laughs.
Share the wealth:… Continue
Added by Jennifer Griner on September 23, 2009 at 10:47am —
Many investors have asked me to explain the difference between "Subject-Tos" and "Wraparound Mortgages."
Both are very useful types of financing that can help you get a deal done when conventional financing isn't possible, without having to use expensive hard money.
Subject-To's (short for "Subject To the Existing Financing")
are deals where the buyer purchases a property subject to the existing… Continue
Added by Jennifer Griner on September 22, 2009 at 3:20pm —
Many people want to know if the existing $8000 first time home buyer tax credit that expires on December 1st, 2009 will be extended.
This is a good question.
As it stands, if you don't take advantage of it by November 30th
, you will not get the tax credit. If you are still trying to take advantage of the existing $8000 first time home buyer tax credit, the time to act is now.
Here is the good news! There are a five… Continue
Added by Jennifer Griner on September 21, 2009 at 10:57am —
Negotiating in real estate is a mental and emotional game
. The outcome of negotiating over property usually boils down to both parties being dependent on their emotional strengths and downplaying their vulnerabilities.
My first negotiating process over a home did not go so well. I was nervous and I believe that the homeowner was aware of the fact that I was a novice due to my stuttering and twitchy body movements. That was the… Continue
Added by Jennifer Griner on September 18, 2009 at 4:26pm —
When homeowners lose their houses to foreclosure, should they be able to stay in the property by leasing it back at fair market rent from the lender?
Cast your vote!
Share the wealth:… Continue
Added by Jennifer Griner on September 18, 2009 at 9:59am —
There are four basic types of real estate investors. Let's see which one fits you best.
own their homes. Little by little, month by month, they made that first-of-the-month mortgage payment and now they sit atop a very nice nest egg. They don't rule out altogether the idea of investing in properties, but they are extremely uncomfortable about using their house to collateralize another mortgage. To them, the risks will… Continue
Added by Jennifer Griner on September 17, 2009 at 10:32am —
Share the wealth:… Continue
Added by Jennifer Griner on September 16, 2009 at 3:10pm —
Backyard Wealth Franchises are now available!
Whether you are a licensed real estate agent, investor or an entrepreneur, take your passion of real estate and business
to the next level. The Backyard Wealth franchise implements an innovative and proprietary lead generating… Continue
Added by Jennifer Griner on September 15, 2009 at 2:16pm —
As a result of the housing market bubble “bursting,” lending guidelines have tightened and the mortgage lenders’ requirement of a down payment for the purchase of a new home has put the dream of owning a home out of many prospective buyers out of reach. Can you still own a home without a down payment or credit?
Added by Jennifer Griner on September 15, 2009 at 2:14pm —
Integrated Asset Services®, LLC (IAS®) (www.iasreo.com), a leader in default management and residential collateral valuations, today released the latest IAS360™ House Price Index (HPI). Based on the timeliest and most granular data available in the industry, the index for national house prices was down 0.5% in July. The slight decline marked the first down month for the IAS360 since February. The leading U.S. housing benchmark remains ahead… Continue
Added by Erik Keith on September 8, 2009 at 11:43am —