Pre-foreclosure note(s)

Pre-foreclosure note(s): "I remember reading somewhere about helping homeowners who are facing foreclosure.

The strategy is to bring the homeowner current, create a note (high interest ?) for that amount allowing them to remain in the home. The homeowner would then pay the investor (me) and if they default the homeowner would lose the home to me.

It's been awhile, so I may not have remembered this strategy correctly. If it sounds familiar or if someone has experience/tips that could lead me in the right direction, I really appreciate it.

Also, if anyone has examples of the correspondence sent to someone in pre-foreclosure, that too is appreciated."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Start of real estate crash?

Agents Online Real Estate Idea Center: Start of real estate crash?: "Low interest rates, increased tax advantages and lowered standards of underwriting debt made common people in America buy real estate like crazy chasing prices never heard before. Many common people now hold many vacant homes with a hope of massive appreciation to continue. Now is the pay back time. The smart money finally got hold of these common people and now the common people have to pay rest of their life the mortgages as the prices come down to the earth dropping 50 to 75% over the next ten years.

With the new bankruptcy law, it will not be possible to walk out just like that from home ownership asking the bank to take the loss.

Now comes the neck breaker! US Federal deficits are so high that sooner and later something must be done. Natural tendency of the Government is to look at the gold mine of taxation ? take the tax advantages out from real estate slowly and that will lower the budget deficit fast. But that will also collapse the real estate and escalate the downward spiral. The 1997 tax advantages helped the smart money rich folks because the upper end of real estate escalated by more than 200% from 1998 to 2005. But now the coming tax reform on real estate tax advantages will take the market down. But the smart money rich folks have transferred the real estate to common people who always suffer at the end of bull cycle. "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

If the seller misses the closing date is he in default?

Agents Online Real Estate Idea Center: If the seller misses the closing date is he in default?: "We've made an offer on a house that was accepted but the owner missed the closing date due to the fact that he filed for bankruptcy & needs a court order to approve the sale.We were notified of the postponment the day before closing though he would have know from the seller 2 weeks ago(there's a 19 day waiting period for disposition)This isn't the only thing thats gone wrong with the deal but is of most concern because as much of a 'lug' as this guy appears to be,if he doesn't live up to other obligations or we suffer other damages we have no recourse but to try & sue someone we know won't/can't pay.Exmpl. we owe another month rent,1/8 point charge for extending loan lock etc...I think its wrong that we are obligated to live up to this agreement but they can work things out at their leisure now that they have our $3,000 in escrow & we've spent hundreds in preparation.I'd rather not deal with these people but my agent says they have another 30 days to square things away after we submit (in writing) our contention with the orig. agreement,...What say ye oh wise ones? Did 'lumpy' default or not? "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Secrets of Buying Piles of Foreclosures...

Google Groups : alt.invest.real-estate: "Pennies on the dollar huh? If you call 60-85 pennies on the dollar, than I
guess you're correct. Thats about the average ratio of government and bank
real estate transfers via auction.

Theres nothing secretive about buying foreclosures. Its no different from
buying anything else. All one has to do is to know where to go to get the
information. It's nothing a few phone calls wouldnt be able to handle. Ive
been buying foreclosures for 20 years and the best advice I could give
anyone is: Dont rely on gimmicks; and; Do the leg-work yourself. "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Home Equity Loan - Bad Move?

Google Groups : misc.invest.financial-plan: "We've been hit by the economic downturn and our income has dropped
sharply, leaving us in a difficult position debt-wise.

We are pretty much keeping our heads above water, but have had to
continually tap into our savings to do that...and can't do it much
longer.

We have a house we bought for $270,000 that we believe is worth around
$420,000 now. The mortgage is around $2000/month (6.375% fixed). We
have some other debt as follows: "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Buying a Home with a Bad Credit

Google Groups : misc.consumers.house: "Hello,

I've had excellent payment history for the last few years. There's just a
couple of bad spots from about four years ago (a few late payments) and
a tax lein from the IRS that will be removed in a couple of years
after I'm done paying them off.

What are my chances for qualifying for a home loan? In case it makes
a difference, I live in the Bay Area (Northern California).

I know that the biggest hurdle will be the tax lien, since the IRS
would place that lien against any property I buy, but I'm wondering
if there are lenders willing to work with borrowers.

Thanks.

Jay "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Buying a Home w/ Bad Credits...

Google Groups : ott.forsaleAnyone know anything about this?? I saw an infomercial the other night and
then looked up some info on the net. From what I found, buying a home with
bad credit and no cash down IS possible. Anyone know how???
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

HUD Homes

Google Groups : misc.consumers.house
What should I look out for, what should I make sure I keep in mind
about buying a home with HUD? Im here in Seattle where the starter home
is 250K. I'm curious about auctions and VA auctions. Definitely not
picky, I just want to get into a place and start fixing it up slowly,
because we are definitly getting old. The prices are so cruel, however
it is not as cruel as in California where starter homes are half a
million dollars I realize.
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Working on a Deal

Google Groups : alt.invest.real-estate
I am working on a deal that might not work but here goes. I just got contacted by a lady that is in foreclosure but the problem is that she has no equity. I could take over her property on a subject to basis but how else could I do this deal with out coughing up 1500 of back payments??

Any suggestions??

Mike in Ohio

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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Max Mortgage Interest Deductible

Google Groups : misc.invest.financial-plan

Hi,
what is the maximum mortgage interest I can deduct in my tax return?
If can pay additional mortgage interest for current year , do I benefit by doing so?

thanks
Michael


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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Paying Off Mortgage with Home Equity

Google Groups : misc.invest.financial-plan: "I need some advice regarding the following idea: paying off my home
mortgage with a home equity loan. The mortgage is down to about
$25,000 with an interest rate of 8.0 or 8.5 (I can't recall which) and
will be paid off in 4/07. Value of the home is about $150,000. I
don't want to extend the term, and a home equity loan seems like an
easy way to reduce the interest rate without paying closing costs.
Would this be a good idea? Would I still be able to deduct interest
on my taxes? Home state is Illinois, if that makes any difference"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Production rebounds; housing down

Production rebounds; housing down: "Output at the nation's factories, mines and utilities rose at the fastest pace in 17 months in October, posting a solid rebound from the devastating Gulf Coast hurricanes.
The Federal Reserve reported that industrial output was up a healthy 0.9 percent last month as refineries and oil and natural gas platforms began production again after widespread shutdowns caused by hurricanes Katrina and Rita.
Last month's increase followed a 1.5 percent plunge in September, which had been the biggest one-month drop in industrial production in more than two decades."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Home Construction Drops on Rising Rates

Mexico Ledger: News Index: "Home construction in October plunged by the biggest amount in seven months, providing dramatic evidence that rising mortgage rates are beginning to dampen the housing boom.
The Commerce Department reported that construction of new homes and apartments fell by 5.6 percent last month to a seasonally adjusted annual rate of 2.01 million units.
The decline was double what analysts had been expecting and indicated that rising mortgage rates are beginning to take a toll on housing, the economy's star performer in recent years."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Home Sale Services could cut Realtor fees by $17K

Montgomery Newspapers - Spring-Ford Reporter - 11/03/2005 - Home Sale Services could cut Realtor fees by $17K: "Changing your own oil or coloring your own hair could save you $20 (plus the cost of a hat). Cooking dinner for two instead of going out could save you $60 and selling a house own your own, sans Realtor, could save you $17,250 - an actual five-digit savings?
Thomas Keenan, along with partner Joseph Ciccitto, thinks so. Keenan and Ciccitto, longtime real estate attorneys, have just opened a division of their law firm called Home Sale Services on Main Street in Collegeville. The idea is to sell a house without a realtor by having an attorney draw up the necessary paperwork - like bill of "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Home Sale Market is Still Going Strong

Yakima Herald Republic Online - Yakima, Washington News, Classifieds, Information, Advertising: "Yakima County's record-setting home sales market hiccuped in October, posting the first monthly decline in total sales over the same month the previous year.
But real estate agents, builders and mortgage bankers say they believe the drop is little more than a bump in the road, a seasonal decline that tends to occur annually as the holidays a"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

N.J. home sale fever breaking, data show

N.J. home sale fever breaking, data show: "Sometimes the numbers don't tell the whole story, housing experts said yesterday after glancing at home price and sales statistics from the National Association of Realtors.
At first blush, everything seems rock-solid: The national median price of a single-family home -- the point at which half sold for more and half sold for less -- rose a healthy "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

All Headline News - Trends in American Home Buying - November 17, 2005

All Headline News - Trends in American Home Buying - November 17, 2005: "A homebuyer study released on Monday shows that for many, the American 'Dream Home' is a new, suburban single-family home located in the southern United States.
The study also shows that the rapidly growing Hispanic home buying population is younger than non-Hispanic first-time homebuyers by an average of four to five years"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.