MORTGAGE MELTDOWN CREATES
HUGE PROFITS BUYING DISTRESSED PROPERTIES
FORECLOSURES AND SHORT SALES NOT GOING
AWAY ANY TIME SOON!!
Recent news across the country makes it crystal clear that the mortgage meltdown is still in full bloom. Despite the efforts of the Making Homes Affordable Program (HAMP) and the lenders' promise to implement the program and provide loan modifications to distressed home owners, the opposite has occurred.
Foreclosures are still on the rise and home owners are more distressed than ever. Making matters worse, it has now been revealed that banks and other mortgage lenders have been involved in a big fraud. They took bail out money from taxpayers, promised help in the form of loan modifications and then resorted to foreclosing on thousands of homes by signing thousands of fraudulent documents, under penalty of perjury stating that they complied with foreclosure laws when, in fact, they didn't. This new development and tactic,now referred to as robo signing has taken the nation by storm.
BANKS ARE A FRAUD
HUGE PROFITS BUYING DISTRESSED PROPERTIES
FORECLOSURES AND SHORT SALES NOT GOING
AWAY ANY TIME SOON!!
Recent news across the country makes it crystal clear that the mortgage meltdown is still in full bloom. Despite the efforts of the Making Homes Affordable Program (HAMP) and the lenders' promise to implement the program and provide loan modifications to distressed home owners, the opposite has occurred.
Foreclosures are still on the rise and home owners are more distressed than ever. Making matters worse, it has now been revealed that banks and other mortgage lenders have been involved in a big fraud. They took bail out money from taxpayers, promised help in the form of loan modifications and then resorted to foreclosing on thousands of homes by signing thousands of fraudulent documents, under penalty of perjury stating that they complied with foreclosure laws when, in fact, they didn't. This new development and tactic,now referred to as robo signing has taken the nation by storm.
BANKS ARE A FRAUD
Congress and state Attorney Generals have called upon lenders to halt foreclosures. Major lenders the likes of J.P. Morgan Chase, GMAC, Wells Fargo and Bank of America are now reviewing their entire foreclosure process and Bank of America has halted foreclosures in all 50 states. Major title insurance companies are refusing to underwrite title insurance for foreclosure sales for fear of bogus titles issued and lawsuits for damages looming in the future.
HERE'S WHAT IT ALL MEANS FOR THE
SAVVY REAL ESTATE INVESTOR
SAVVY REAL ESTATE INVESTOR
1. Foreclosures on a grand scale are going to last for a long, long time. Economist predict at least 3 to 5 more years, if not more. Being put on hold for even a short time period will have the effect of loading the market flush with foreclosures once the robo signing debacle blows over. This glut will drive prices of foreclosed homes down even further and create huge opportunities for investors and persons home shopping for themselves to cherry pick in many of the states and areas hardest hit by foreclosures such as Nevada, California, Arizona and Florida.
2. Buying distressed properties through the short sale process will be easier and in a shorter period of time. Congress has already introduced a bill, H.R. 6133 that will shorten the time for a short sale approval from a lender to no more than 45 days. This will cut in half the normal time which is 90 to 120 days. Home buyers and investors will benefit because the lenders will no longer be able to create an artificial backlog of foreclosed homes and thus manipulate the process in their favor.
The pressure and push to get rid of foreclosure inventory will create better deals and more profits for investors which will stimulate the economy and encourage qualified home buyers looking for a good deal to stay in the game. This will help spur the stabilization of the economy and get loans flowing again. We all know, as the housing market goes, so goes the economy.
WHAT'S THE BOTTOM LINE!!
Now is the time to act. Real estate investors should be proactive and buy, buy, buy. Home buyers who are sitting on the fence, there may never be a better time to own that new home than now. Interest rates are extremely low, qualifications are not extremely high and bargain properties are abundantly available.
Warrent Buffet, one of the nation's most wealthy individuals, says "when people are greedy be fearful. When they are fearful be greedy." Right now the smell of fear is in the economic air. Buy, Buy, Buy.
If you want to learn the tactics, tips and techiques to make huge profits in real estate in any economy subscribe to newsletter The Real Estate Playbook.
YOU WILL LEARN!!
2. Buying distressed properties through the short sale process will be easier and in a shorter period of time. Congress has already introduced a bill, H.R. 6133 that will shorten the time for a short sale approval from a lender to no more than 45 days. This will cut in half the normal time which is 90 to 120 days. Home buyers and investors will benefit because the lenders will no longer be able to create an artificial backlog of foreclosed homes and thus manipulate the process in their favor.
The pressure and push to get rid of foreclosure inventory will create better deals and more profits for investors which will stimulate the economy and encourage qualified home buyers looking for a good deal to stay in the game. This will help spur the stabilization of the economy and get loans flowing again. We all know, as the housing market goes, so goes the economy.
WHAT'S THE BOTTOM LINE!!
Now is the time to act. Real estate investors should be proactive and buy, buy, buy. Home buyers who are sitting on the fence, there may never be a better time to own that new home than now. Interest rates are extremely low, qualifications are not extremely high and bargain properties are abundantly available.
Warrent Buffet, one of the nation's most wealthy individuals, says "when people are greedy be fearful. When they are fearful be greedy." Right now the smell of fear is in the economic air. Buy, Buy, Buy.
If you want to learn the tactics, tips and techiques to make huge profits in real estate in any economy subscribe to newsletter The Real Estate Playbook.
YOU WILL LEARN!!
- How to prospect for and find the best real estate properties
- How to structure an offer to a seller, bank or lender
- Where to find help to close the deal if you can't
- How to resell property for a profit or hold it for maximum return
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