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licensed loan modification expert: THE BANKS NEED TO START PLAYING BALL - 05/19/10 02:07 PM
The banks need to start working with homeowners now. If they don’t we are going to see a ripple effect in the economy that made the last meltdown look tame. I can see no reason why the banks are forcing homeowners to go 60 to 90 days late on their mortgage just to get a loan modification which doesn’t really solve the problem. The banks should be willing to short sell properties back to property owners at market rate instead of forcing the homeowner to do a short sale to a third party and have to move out. … (2 comments)
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licensed loan modification expert: COULD SOMEBODY PLEASE COME UP WITH SOME ANSWERS TO THE HOUSING CRISIS - 01/20/10 01:32 PM
THIS HOUSE HAS BEEN OFFERED TO SHOWCASE AT THE INTERNATIONAL BUILDERS SHOW
The International Builders Show at the Las Vegas Convention Center will not feature The New American Home, a sample home that showcases state-of-the-art home-building concepts, materials and construction techniques that eventually find their way into production homes across the nation.
For the last twenty odd years the show has had a sample home on the floor built with new innovations for the eye to see and the hand to touch. Unfortunately the company building the sample home for the trade show ran into money problems with their lender … (0 comments)
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licensed loan modification expert: DEAR JOHN - I JUST DON'T LOVE YOU LIKE I USED TO - 01/11/10 01:58 PM
IT'S BEEN AWHILE SINCE I SIGNED A LISTING
Will Realtors eventually find themselves faced with the same fate as travel agents and stockbrokers? Is there truely a real need for a live person to press the fresh to make a property sale or can it eventually be done online like so many other purchases? Is it possible we will become extinct? Some people say it will never happen. I don't know for sure. Will we go the way of the Woolly Mammoth and the Dinosaur? Should we all start thinking about finding a new profession?
Real Estate consumers can go on the … (27 comments)
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licensed loan modification expert: THE MYSTERY BEHIND THE PROMISSORY NOTE - 01/04/10 06:41 PM
What actually happens when you sign a Promissory Note? What you are doing is signing a document that states the terms of the loan and what will happened to you if you do not live up to the terms of the loan.
The banks has you sign the note filled with stipulations that you will give up your rights to ownership on the property should you default on the loan. But you are the only one signing the note which makes your contract and agreement with the bank one-sided. A one-sided contract considers that you … (0 comments)
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licensed loan modification expert: LOVE - LOVE WILL KEEP US TOGETHER - 12/28/09 09:10 PM
Love can be fleeting, but the declining housing market may last for years. They say love will keep us together, but there's nothing like a bad economy to seal the deal and draw families in under the same roof. It isn't that much different from when I grew up in South Philadelphia. You got married, bought a car and a bedroom set with what was left of your wedding money, moved back in your old bedroom on the third floor of you parent's row house until you and your spouse could save enough money to rent or buy a … (15 comments)
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licensed loan modification expert: I HATE YOUR GUTS BUT I'M STICKING WITH YOU - 12/20/09 03:25 PM
The past year has not been kind to divorce lawyers. Divorce is down 4% nationally. Things are different now. The drop in housing prices combined with a declining economy is making couples who would normally part ways stay the course and stick to their vows of death till us part.
So many couples are underwater on equity in their homes that they can't sell - split the money - part ways and start their lives anew. If they bought the house jointly and one spouse decides to abandon ship the house could go into default their credit gets creamed for five … (46 comments)
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licensed loan modification expert: WHAT THE TSUNAMIS WILL MEAN TO YOU - SHORT SALE - 12/17/09 05:58 PM
In places like Las Vegas, California and Arizona the foreclosures are going to keep going up and the value of homes are going to keep going down. There are $2.5 trillion adjustable mortgages that will adjust from now until late summer of 2011. By next year there is an expectation of 4 million foreclosures nationwide. It is predicted that half of them will occur in Florida, Arizona, Nevada and Arizona. Las Vegas is experiencing an unemployment rate that is nudging near 14%. If this continues for a year or so the prices of Las Vegas Homes will continue to … (3 comments)
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licensed loan modification expert: WOULD YOU BUY A USED CAR FROM THIS MAN? - 12/09/09 03:22 PM
I have noticed several postings that address concerns about the Real Estate Agent's Image. The last one I read spoke about people comparing agents to used car salesman. That doesn't seem fair. We really don't do the same things that used care sales people do. Instead of selling cars to our clients we put them in a car and drive them around to homes we are trying to sell them. We don't stand on freezing cold car lots or blazing hot car lots lying through our teeth about how great a car is. We are much more sophisticated and make sure we when we lie through our teeth … (0 comments)
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licensed loan modification expert: WE'LL GET THAT DEAL DONE RIGHT AFTER THE HOLIDAYS - 12/06/09 02:35 PM
The holidays are on the horizon. Christmas Music is playing everywhere. It's three weeks before Christmas and I'm already sick of Christmas Music, and I kind of like Christmas Music. People are slowly starting to slip into the holiday mode. They are beginning to think about hot-cider, mistletoe and office parties. It's time to eat, drink and be merry. Suddenly the overall attitude of people you are doing business with changes to Next Year. "Let's wait unit after the holidays and we'll finalize the deal next year." You hear things like, "I'm going on a cruise and I'll be back next year. … (2 comments)
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licensed loan modification expert: FRANKIE AND CONNIE DIED TRYING - 12/03/09 01:20 PM
Friends of mine bought a home in Las Vegas at the beginning of 2006. They paid $375,000 for a modest place in the south-west part of town. When Frank and Connie bought the home they had good jobs and a healthy credit score. As their family grew the cost of cars, insurance, healthcare, childcare and food began to rise and eat away at their bottom line. Although they were struggling to make their house payment they were willing to shoulder the sacrifice believing their home was an investment that would yield dividends for themselves and their children in the future.
Then Frank … (1 comments)
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licensed loan modification expert: COME ON AND LET ME KNOW - SHOULD I STAY OR SHOULD I GO - 12/01/09 03:06 PM
My experience over the last several months has been that most homeowners who are upside down and sideways on their mortgages continue to pay on them. Forget the reports that people are walking away from their homes in droves. At least in Las Vegas it’s just not happening.
Most people have pride and they want to do the right thing and pay their bills. In his paper "Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis” Brent T. White, University of Arizona Law Professor, talks about people having … (2 comments)
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licensed loan modification expert: HEY YOU! I GOT ME SOME RIGHTS TOO! - 11/30/09 07:02 PM
TELL THE GREEDY GUY ABOUT YOUR RIGHTS
ARE YOU RENTING A RESIDENCE WHICH IS BEING FORECLOSED UPON? It used to be if you were renting a place in Nevada that got foreclosed on you could get served with 3 day vacate notice. If you didn’t get the hell out a new owner could file to have you evicted. Now the laws have changed As of May 2009 a federal law was enacted called the Helping Families Save Their Homes Act. The bill says that anyone who is renting a property that was foreclosed on anywhere in America must … (4 comments)
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licensed loan modification expert: LET FREEDOM RING - 11/26/09 03:49 PM
One of the most aggressive options for getting loan reductions and sometimes principle reductions is performing Loan Litigation.
You get a Forensic Audit from a reputable company - hire an an attorney or someone qualified to read the audit. If there are violations on the audit- submit it to the lender to see if they want to play ball. If the lender does not want to play ball you file a lawsuit against them.
Once a lawsuit is filed against the lender all foreclosure proceedings and reporting to the credit agencies must cease and desist.
You hire an attorney or other qualified professional … (0 comments)
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licensed loan modification expert: SOMETIMES IT'S A COLD CRUEL WORLD - 11/25/09 03:14 PM
Thousands of distressed homeowners have been calling their lenders for loan modifications. A lot of people just want an interest rate reduction that will lower their payment at least for awhile - until things turn around - until the economy starts getting better. A payment reduction of say $200 or $300 would allow some folks who are struggling to continue to stay in their homes and put food on the table. You wouldn't think it would be that hard for a lender to lower an interest rate or lengthen term of the loan to bring the payment amount … (5 comments)
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licensed loan modification expert: THESE WERE THE BEST OF TIMES AND THE WORST OF TIMES - 11/24/09 07:35 PM
When the tides turned for the worst on Las Vegas Real Estate, and I saw people struggling to keep their homes I decided to learn as much as I could about the legal side of Real Property. For the last two years I have been studying, reading and asking questions about how to protect folks who are going through hard times with their homes.
Now, for the first time in my life I have found real passion in my work. It gives me a rush when I can help someone scared of losing their home out of a jam. Although … (3 comments)
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licensed loan modification expert: THERE'S A NEW SHERIFF IN TOWN - 11/23/09 04:53 PM
ONE WAY TO SLOW DOWN FORECLOSURE When a Lender of Investor tries to foreclose on a property they normally do not have the original promissory note that displays the wet signature of the homebuyer. When a lien holder does not have the original note they produce an Affidavit of Lost Promissory Note. This Affidavit is a loophole in the law created under a special statute that creates a mechanism to prove prior procession of a financial instrument that was lost by the lien holder. The statute takes into consideration that the lien holder may have lost the note … (0 comments)
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licensed loan modification expert: EVERYBODY - HURRAY HURRAY FOR THE FHA - 11/22/09 06:06 PM
The Federal Housing Administration, more commonly known as FHA is the insurer of about $750 billion in outstanding mortgages. A HUD Audit on FHA found their cash reserve fund is rapidly depleting and may drop below its Congressionally mandated 2% of insurance liabilities by the end of the year.
At a 50 to 1 leverage ratio, the FHA will soon have a smaller capital cushion than did investment bank Bear Stearns on the eve of its crash. FHA is now dealing with a 14% thirty day or more late rate. This is three times more than conventional mortgages. FHA'S cash … (1 comments)
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licensed loan modification expert: I JUST CAN'T TAKE IT NO MORE - 11/20/09 03:53 PM
PLEASE CHECK ME OUT ON FACEBOOK
CALL ROBIN BASICHIS - 702-279-8025
If were to combine mortgage delinquencies with foreclosures as of today you would come up with a 14.50% national total. This is the highest percentage total on record in.
Nevada, Florida and Arizona make up 43% of the national total.
Things are likely got get worse before they get better. Stuff like jobs and employment have to come back. Hopefully jobs will start coming back to Las Vegas.
Didn't the current administration say it was going to help homeowners who were in trouble? What happened to … (4 comments)
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licensed loan modification expert: WHAT ARE YOU GONNA DO WHEN THE CENSUS TAKER COMES TO CALL? - 11/18/09 09:27 PM
They are going to do a census in 2010. I don't think they are going to be asking too many Real Estate questions so it's probably going to be a waste of time.
Will you tell the census taker everything about yourself? Will you bare your soul to the census taker? Or will you do something I would never think of doing - like lie to the census taker. What if you said your were making lots of money selling properties and the market is great and still getting better. Would that skew the statistics?
Will you let the census taker through the door? You could shout out … (3 comments)
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licensed loan modification expert: WAS GEROGE ORWELL WRONG? - 11/18/09 06:59 PM
There are some entities in places like Hollywood that would have the government act as a spy on the Internet just in case someone commits copyright infringement. What if your kid stole a new idea for a Fox Pilot or an an NBC Pilot and was savvy enough to sell it to another network. Would you be proud of your kid? I would.
He’s a good kid, a smart kid, but maybe he knows too much and he pokes around on the Internet too eagerly for stuff like stories and movie ideas because he loves fiction and loves … (0 comments)
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Robin Basichis
Las Vegas,
NV
More about me…
Rosen Company West/Diversified Real Estate Consultants L.L.C
Address: 2300 West Sahara Ave., Suite 800, Las Vegas, NV, 89102
Office Phone: (702) 856-4707
Cell Phone: (702) 279-8025
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