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Surprising Story About Foreclosures
A very interesting thing happened to me yesterday. My title representative keeps track of the foreclosure status on all my clients who are currently not paying their mortgages. He checks on 16 homes for me every week and told me yesterday he is tired of checking EVERY WEEK because, “Nothing ever changes, Erik. There has been no filing of foreclosure on any of them, some for over 2 years now!”... [Read more]
“Let’s List High and Leave Room to Negotiate”
The Dangers of Overpricing your Home – Part 1 In today’s difficult real estate climate, the most important criteria for getting your home sold is pricing it correctly. Overpricing your home is the #1 reason that properties don’t sell. In a city like Los Angeles, there are thousands of buyers in each zip code, and at the right price, there is ALWAYS a buyer for every home. This is a fact. ... [Read more]
Hi everyone, for a free report on how to negotiate with banks, just click on the link below.
Banks are negotiating with homeowners in your neighborhood like never before in history. To learn how and why, go to http://howbanksnegotiate.com/b/ Read More →
Hi all, here’s what we can do to help…
HERE’S WHAT WE DO: There are many pitfalls in any of the options above so it’s critical that we sit down with you and decide which of the above options is most appropriate for you. In order for this conversation to be efficient and productive there are two very different skill sets required. 1. A deep understanding of each bank’s processes and what they are looking for. AND 2. ... [Read more]
Happy Friday everyone! Here is the 3rd post in my series. Read on to learn about options other than foreclosure.
WHAT THE HECK IS A SHORT SALE ANYWAY? To be technical, here’s an official definition of a short sale: A homeowner is ’short’ when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer... [Read more]
Hi everyone, here is the 2nd post in my series. This covers some of the options available to prevent foreclosure.
What Banks are looking for? During a negotiation, banks are looking for the best alternative to foreclosure. Since they profess to wanting to keep the homeowner in the property, the first option that they recommend is usually a loan or mortgage modification. Mortgage Modification A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance... [Read more]
Hi all, here is some useful insight into bank negotiations.
HOW TO NEGOTIATE WITH BANKS First and foremost, it is important to remember that banks negotiate. Every item is negotiable when a bank is looking at an alternative to foreclosure. Banks do not wish to foreclose. I met with a Wells Fargo negotiator this week and according to her, the foreclosure process costs the bank an additional 10 – 15% more than a short sale. The first rule of negotiation is,... [Read more]
Hey, check this out if you’re defaulting on credit cards.
The ugly reality of lowering debt by default by Nin-Hai Tseng, reporter September 28, 2010: 2:35 PM ET FORTUNE — There have been at least a few seemingly positive signs of progress during this anemic economic recovery: U.S. households are spending less. They’re saving more. Debt is steadily falling. But don’t be fooled by the cheery headlines. The trend toward fiscal discipline... [Read more]
Hey, check this out if you’re defaulting on credit cards.
The ugly reality of lowering debt by default by Nin-Hai Tseng, reporter September 28, 2010: 2:35 PM ET FORTUNE — There have been at least a few seemingly positive signs of progress during this anemic economic recovery: U.S. households are spending less. They’re saving more. Debt is steadily falling. But don’t be fooled by the cheery headlines. The trend toward fiscal discipline might... [Read more]
Hey friends, here is an excellent article as to why it makes sense to purchase a home sooner rather than later. Financing as we know it will be much different in the next 6 months.
Changes at Fannie Mae, Freddie Mac could transform mortgage landscape The Obama administration aims to phase out Fannie Mae and Freddie Mac and to cut the FHA’s market share. By Kenneth R. Harney February 20, 2011 Reporting from Washington — Fixed 30-year mortgage rates in the 5% range? Minimum down payments below 5%? Jumbo-sized home loans for high-cost markets at regular interest rates? Kiss... [Read more]
As one of L.A.'s newest and most exciting communities, Playa Vista offers quality of living, all around convenience and much more than just a beautiful place to live. The Flexner Group invites you to explore and become part of a community where you'll truly feel at home.