Posts Tagged ‘default’

9 Months ‘Til Due

Posted: March 19, 2013 in bank reo, CDPE, Commercial Real Estate, CRE, CRS, David Alvarez, David N. Alvarez, investment strategies, JoinDNA, Keller Williams, Keller Williams Realty, KW, KW Commercial, Leasing Vacancies, Market Share, Nissi Agents, Real Estate, Residential, short-sale, The Real Estate Game, Uncategorized, wealth creation
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Time is ticking and this real estate “baby” is due.  What “baby” could that possibly be? In 9 months the Mortgage Debt Relief Act will expire on, December 31, 2013, for homeowners that owe more on their home than what it is currently worth.

Just like a pregnancy requires a great doctor, so do underwater homeowners require a great real estate broker. The top five states that experienced mortgage fraud in Q4 of 2012 were: 1. Nevada 2. Arizona 3. Florida 4. New Jersey 5. California; all 50 states experienced some type of mortgage fraud. No homeowner should have to go through such thing.

While there is much talk about a recovering real estate market, there are still homeowners that lost too much equity on their property the past 5 years to be helped by today’s current market.

Most homeowners think they have plenty of time to take advantage of this Mortgage Relief Act because 9 months seems far away, but in reality time is very short. Here are top 5 reasons why underwater homeowners do not take action:

1.  Too embarrassed.

2. Do not know a qualified broker.

3. Fear of the unknown.

4. Heard bad advice from unqualified people.

5. Are in denial of their problem.

If you are a homeowner who owes more on your home, and do not know what to do, then do not allow any reason stop you from getting the help you deserve. A homeowner who does not take action today will suffer unnecessary future consequences. Most foreclosures that occurred in 2012 could have possibly been avoided if the homeowner sought help by a qualified real estate broker.

The truth about today’s real estate market is that recovery is taking place, and yes there is a shortage of available homes for sale, but for underwater homeowners who experienced 50%70% loss in equity, not even a 10% appreciation in 2013 can save them from the past economic downturn.

My recommendations are the following, get in touch with a qualified real estate broker right now, get the answers you know you need, and then decide what is best for your family. Don’t allow fear to hold you back from getting rid of this nagging debt. Lastly, take advantage of the potential bank incentives that are being offered to homeowners that range from$3,000-$20,0000. Most importantly, start right now.

 Download this month’s FREE report about, Mortgage Fraud Alert, at http://www.NissiAgents.com. You may always call our FREE 24-hour voice-recorded line at, 1.866.476.1677 Ext. 455 to set up a FREE consultation or with any questions you may have about today’s market. You may connect with me personally through social media at: www.JoinDNA.com. If this article helped you in any way, please share it with a family member, friend, or neighbor that may also benefit from this. The more you give, the more that comes back to you

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Ever had to say that to your real estate broker? Not a pleasant conversation.

Most property owners, as well as real estate buyers, must remember that interviewing a broker is an important process that should not be avoided. Successful real estate teams always interview the people they may potentially work with. That is because four key components are talked about for winning in today’s market. These components are loyalty, motivation, expectations, and time-frames.

Loyalty, no one wants to work with a disloyal broker, much less entrust them with their real estate and goals. Same is true from a broker perspective, a good broker sees the person as a client, and a great broker sees the person as a partner. How do you know if your broker is loyal? Check their references, past partners (clients) will share with you their experience.

Motivation. Ever had a conversation with a person and felt tired afterwards? There is a good chance there was no motivation present. Unmotivated brokers will cost you money upfront and in the long run. Avoid them. Work with motivated brokers only, and don’t be shy, bring your motivation to the table too, brokers appreciate that.

Expectations. Unspoken expectations inevitably become unmet expectations. Why? Because it was never addressed from the start. Good brokers wait for you to voice your expectations, but great brokers, will ask you the tough and detailed questions. They do this because they know what is up ahead, and genuinely want to help you meet your expectations and address any unrealistic ones.

Time-frames. Whether a family is facing foreclosure; a job transfer awaits in another city; moving in before the kids start school; and so forth; all these examples have a dead-line. When time-frames are met, all is well, but when brokers and clients fail to communicate important dates, then unwanted scenarios occur. Your broker should take the time to know your important dates.

You do not need to interview tons of brokers. Interview one at time until a broker is a match for you in the aforementioned four areas. If there is no connection with that broker in those areas, then interview another broker until you find your match. Look at it as speed dating! You might find your broker on the first try or fourth one, the important thing is you work with someone that understands you, and can help you go from where you are to where you want to be.

As always, we provide FREE reports and information about today’s market at http://www.NissiAgents.com. You may always call our FREE 24-hour voice-recorded line at, 1.866.476.1677 Ext. 455 with any questions you may have about today’s market.  Feel free to connect with me personally through social media at: www.JoinDNA.com. If this article helped you in any way, please share it with a loved one. The more you give, the more that comes back to you.

I am excited for what the year 2013 has to bring, but for a moment, Realtors knew serious change was imminent. The Mortgage Debt Relief Act of 2007 had expired on December 31, 2012. More setbacks for “upside down” homeowners were expected. For example, homeowners that did not complete a “short-sale”, prior to the mentioned date, could anticipate a change in after sale tax consequences.

Suddenly, great news arrived! In early January, with all the fiscal fiasco, a revived miracle happened. U.S. Congress extended the Act of 2007 for one more year. In other words, December 31, 2013 is the new expiration date of this Act. Many current homeowners that still need to complete a short-sale could use the many benefits it offers for a distressed homeowner.

If there was ever a good time to put a home up for sale, it is in 2013. With experts such as, KCM Crew, from Holbrook, New York, projecting 3-3.5% appreciation nationwide on home values, and increase of bank cooperation with homeowners and Realtors, things are looking better for the real estate recovery.

First, what is a short-sale? CDPE (Certified Distressed Property Expert) training says, “A short sale is, and 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 closes on the property, and the property is then ‘sold short’ of the total value of the mortgage and foreclosure is avoided.” A question many still have, “How do I know if I qualify for a short-sale, and will this Act of 2007 still benefit me?”

If you, a friend, a family member, or a neighbor owes more on your home than what it is currently worth, here are some recommendations. First, share you specific situation to a certified and trained Realtor who understands the short-sale process. Second, become informed of all of your options. Third, with help of your certified and trained Realtor, decide the best option for you and take massive action until completed.

We realize that homeowners have many questions. Here are some helpful things you can do right now. If you or someone you know is wondering if they qualify for short-sale; qualify for a possible $3,000 assisted relocation money; need better understanding of this extended Mortgage Debt Relief Act of 2007; or, if you were told in 2012 you couldn’t do a short-sale, but still have nagging suspicion you were misinformed, then please feel free to download right now our FREE reports at http://www.BeatBankRepo.com for immediate answers.

Last, we will be hosting a FREE Pre-Foreclosure Solutions Seminar for homeowners on Saturday, January 26, 2013 at 11:00am-12pm in Hesperia, CA. Please call right now our FREE voice-recorded line to RSVP at, 1.866.476.1677 Ext. 01753. As always, feel free to connect with me personally at: www.JoinDNA.com. If this article helped you in any way, please share it with a loved one. The more you give, the more that comes back to you.

A couple of weeks ago, millions of Americans experienced Black Friday sales. Do you know why it’s called Black Friday? In short, it is because most businesses’ profit and loss statements enter the “black” from the success of those sales, in other words, they break even and enter into a positive. Every month we are either in the “black” or in the “red,” as it relates to our finances. There is income and expenses, and we are either at a profit or a loss. Sounds like running a business, right?

Your home is like running a business, and it is one of the most important topics in any real estate market. When I meet with property owners I run into many different personalities. Some owners are extremely organized, and others seem to make it through life with no cares and somehow the mortgage, household expenses, and so forth get paid.

Part of owning a home means knowing as accurately as possible how much income you receive and the expenses that exist each month. It comes down to an important topic I teach in real estate ownership and investing, apprehension vs. anticipation. When we anticipate we create greater chances of winning consistently, and when apprehension is present we slow down our progress.

For example, a homeowner who is projecting in the year 2013 on listing their home for sale, it is recommended to begin the preparation process 7-10 months in advance, because it helps eliminate much of the guess work (apprehension), and helps a property owner better position themselves for the day they go on the market (anticipation). There is more detail involved in the process, but the point I want to share is simple: apprehension will cost you time & money, anticipation will save you time and make you money.

In the next article I will share a basic strategy to set up a household budget that can be immediately implemented. Start running your home like a business, and watch your personal finances avoid “the red” and consistently stay in “the black”. If you are a homeowner that is considering selling at some point in the year 2013, please do yourself a favor, and begin preparing now. Feel free to contact us at 760.596.9856 or email us at info@NissiAgents.com for a FREE Market Analysis on your home to begin the preparation process of what is ahead in the year 2013. As always, if you like to personally connect with me through social media, please do so here: http://www.JoinDNA.com

The clock is ticking fast and the Mortgage Debt Relief Act of 2007 will expire at the end of this year. This Act was put in place to protect distressed homeowners from paying taxes on debt forgiven once their short sale closes.

Prior to this act when homeowners negotiated a short sale, traditionally banks were legally required to report the debt wiped off the account to the IRS. Even though the homeowner did not see a dime of this forgiven money at the close of escrow Uncle Sam classified this forgiven debt as income. Unfortunately, this left some homeowners to foot the bill for the taxes on that “income”.

While congress decides whether to or not to extend the act beyond December 31st, homeowners who have been on the fence of indecision must act immediately. Unbeknownst to most, foreclosure can cause more damage than most are aware of. The Mortgage Debt Relief Act of 2007 is designed to offer homeowners relief from having to pay income taxes on forgiven mortgage debt, saving them from trading one unreasonable debt for another.

So what needs to be accomplished before this expiration date? All you need is a successfully approved and closed short sale transaction before the end of Monday, December 31, 2012.

If you’ve been listening to the mainstream media you’ll hear two very different opinions on the subject. Some experts expect the act to be extended, while others are of the opinion that the housing market is on the verge of another foreclosure wave. I genuinely hope this extension takes place so that more homeowners may take full advantage of this act. We must be realistic in our approach though; prepare for the worse, and expect the best. In the event that it doesn’t receive an extension in the very near future, many homeowners that would have otherwise been able to benefit from this Act will miss out on this opportunity. For those that take action right now, and the extension happens to pass, you will be closer to experiencing relief from the weight of that mortgage burden once and for all.

It is my sincerest wish to see more homeowners informed and prepared for the fast approaching changes. As a matter of fact, here is how you can help a neighbor, friend, and family member, share with them this article right now. They will thank you, and you will feel good that you were part of a solution in their moment of crisis.

Therefore, backed by popular demand, the many questions homeowners have in today’s evolving real estate market will be answered in a FREE Pre-Foreclosure Solutions Seminar happening on November 3, 2012. This seminar is for homeowners who are seeking an answer regarding their situations and better understand how the markets are behaving in their neighborhoods. Seminar will take place on November 3, 2012 @11am, in Upland, CA. Please call: 760.596.9856 to RSVP, and connect with me online at www.JoinDNA.com  for real estate market updates. For immediate answers regarding pre-foreclosure solutions please visit: www.BeatBankRepo.com. – #dna