Monthly Archives: May 2011

Avoid Foreclosure: Option 7 – Loan Forebearance

Option 7. LOAN FOREBEARANCE

Definition of Forbearance: The act of a creditor who refrains from enforcing a debt when it falls due.

Loan forbearance is a new agreement with your lender to repay your past due payments when you are behind on mortgage payments. This will stop foreclosure sale of your home quickly.

Forbearance is easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. Some lenders will not consider this after filing, but it’s worth trying.

This is the most common way of resolving a loan default. You and the lender agree to work out a … Read the rest

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Avoid Foreclosure: Option 11 – MORTGAGE LOAN MODIFICATION

Option 11. MORTGAGE LOAN MODIFICATION

(Available on a very limited number of VA loans with lender and/or investor approval) (Called Recast for FHA)
Definition: A restructuring of loan that could result in a lower interest rate, extending the term of your loan, thereby lowering your monthly mortgage payments.

If you have incurred a long term financial hardship and can afford a new agreed upon payment, this might be an option for you. A loan modification is a permanent change to your mortgage. There are costs and fees associated with a modification that you will be responsible for. All property taxes … Read the rest

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Top 10 Marketing Strategies for RealEstate Investors Part 5 – Classified Ads

“Doing business without advertising is like winking
at a girl in the dark. You know what you are doing, but nobody else does.”

~Steuart Henderson Britt

Classified ads are a good cost /effective way to reach property sellers in  Pre-foreclosure, and pre-default. Secondary niches who you will find contact you from your ads are Absentee Owners, Probate and bankruptcy. Classified ads are also good for selling any type of property.

Keys to Success:

  • Ensure that your headlines command attention and virtually DEMAND that your prospects take action.
  • You have to be UNIQUE. What do you have or do
… Read the rest
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Land Flipping Vs House FlippingWhat’s the Difference?

I have been buying and selling residential real estate as a real estate investor for almost 7 years now. I have looked at just about every avenue of real estate investing from Pre-construction, Assignments, Tax liens, Rehab, Probate, Bankruptcies, Pre-foreclosures and short sales, Foreclosures and REOs, Landlords and FSBO’s. I have profited from and am a trainer and coach now for literally all of these strategies.

However, lately I have learned about a twist to an old strategy I had never done. Buying land and re-selling it via owner financing for a monthly profit and eventually a flip this property … Read the rest

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