Chris 's Blog

Why Become a Loss Mitigator?

2008-09-19T00:42:05Z

These are the most frequently asked questions. More detailed information and answers to these questions are found by surfing through our site.

Why the Foreclosure/Loss Mitigation Business?

Families need help and you can earn a tremendous income coming to their aid. The foreclosure epidemic is negatively impacting the lives of millions of families and there is little, if any, assistance. Lenders don't allocate the resources to their Loss Mitigation divisions. Investors and attorneys are understandably taking advantage of this misfortune. Reverse this misfortune and get paid for an ethical service to the community.

This is a huge, untapped, niche market with little to no competition. These are the ideal economic factors you want to encounter when going into any business. With our track record of success and unparalleled support and training, this is the ultimate opportunity for you.

What is Foreclosure/Loss Mitigation consulting?

Simply put, it is helping people avoid losing their homes to foreclosure. Foreclosure/Loss Mitigation Consulting is a business you can operate with low start-up cost from your home or office and start earning income within weeks.

What kind of experience do I need?

This program is designed for people with no experience in financing, marketing, real estate, sales, business or consulting. Using our program, you will acquire an in-depth understanding of the loss mitigation process, arming you with the KNOWLEDGE, POWER, and RESOURCES necessary to help FFPS STOP FORECLOSURES. The only requirements are:

The will to succeed
The desire to help others who need your help
Being of good character
Good work ethic
Be willing to follow our proven training and certification program.

Do I have to be an expert?

When you become a Certified Loss Mitigation Consultant you are immediately eligible for the Case Outsourcing Program. We are the experts so you don't have to be. Once you receive approval on your case, simply forward your client the proper paperwork. Have your client complete their paperwork and send it back to FFPS. We will handle all the negotiations with the lenders and stay in touch with your client. It's that simple!

Why is the Loss Mitigation Business so important to its customers?

You offer your customers one of the most important services they will ever need. You will be SAVING THEIR MOST VALUABLE INVESTMENT FROM FORECLOSURE!!

Can I Work From The Comfort Of My Home?

This business can be run successfully from either home or office, wherever you feel most comfortable. You are not limited to saving homes in just your state. The entire USA is your land of opportunity.

What kind of training and support can I expect?

The Best! Included in this package is access to the Online Support Area with an arsenal of tools, documents and resources to help you learn, organize and operate your new Loss Mitigation business. Our Proprietary Marketing Systems offer the latest training and support technologically possible. For example, 6 Loss Mitigation Training Modules, 4 Live Training Calls every week, plus your LMC reference materials that were created to streamline your training. We provide you with everything you could possibly require to succeed.

How much time will I have to devote to this business?

How much time you devote to the business depends on how much money you wish to make. Obviously, the more time you spend, the more money you can make. You could spend 10-15 hours a week and make a good part-time income, or work 40 hours or more and earn excellent full-time money.

Are there any income guarantees?

The only guarantee we have is to provide you with the finest education, support, and training along with state of the art tools to help you succeed! If you do nothing, you will certainly earn nothing. Your level of income is directly proportional to your desire, level of enthusiasm, work ethic and commitment.

How soon can I get started?

With our State-of-the-Art online training system, you could be trained and Certified in as little as 7 days from the time your online account is activated. We have Consultants submitting Loss Mitigation cases in their first week!

Can I Still Provide This Service And Work My Current Job?

The hours required for this business are flexible enough to allow you to continue your current job at the same time. Most of our Consultants start out on a part time basis and work into a full time basis.

Would I work for the lender?

No. You work for the homeowner. As a Certified Loss Mitigation Consultant you would work completely independent from the lender. You qualify your potential client and if they qualify, you will take an application via telephone and input the data into your own replicatable website. Once your client has been approved, you will send them the appropriate paperwork, which can be done via fax or email. After that, you simply have the client send all paperwork back to FFPS with their fee. At this point FFPS will completely handle the case - you're done! Or, completely handle the case yourself - whichever is most convenient for you.

Can the homeowner afford this service?

The whole purpose of loss mitigation is to provide the general public with an affordable and effective representational service. Our experience and research shows that a potential applicant cannot afford NOT to utilize this service. You should keep in mind that your clients will not be destitute. Their ability to pay their mortgage obligation has been determined in your initial qualification step.

Most of your clients have a portion of the back mortgage payments set aside. Their problem is that their lender has been unwilling to accept anything but the entire delinquent balance due. They can obviously pay a small $1,000 - $2,000 fee. You will always provide them with a guarantee of your services (MEANING YOUR FEES ARE CONTINGENT TO RESOLVING THEIR MORTGAGE PROBLEMS). This will boost your creditability. Remember, fees are paid up front as a deposit. This will ensure that work is not rendered for nothing and that a WIN - WIN result is established.

Why would anyone pay for this service?

You offer your client one of the most important services they will ever need. You will be SAVING THEIR MOST VALUABLE INVESTMENT FROM FORECLOSURE! The cost of moving is far greater than our fee for saving their home. In addition to helping stop the foreclosure process against their home and saving their equity, you can also prevent a possible tax liability to your client.

What about start-up costs?

This amazing service is inexpensive, both to start and maintain. There are no hidden costs or inventory requirements. You can start this service from your home with very low overhead. Your only costs will be your student tuition, long distance, Internet service and lead generation costs.

How much can I earn?

If you follow our proven program as outlined in this program, you could earn five to six figures per year, or more. You also have the freedom to accept as few or as many cases as you like, with the added bonus of a nationwide market, which can greatly increase your potential to earn unlimited income.

We will also show you how to receive potential referrals from a vast network of sources. For example, government approved agencies, realtors, mortgage companies, brokers, and many, many more. Our unique methods will eventually eliminate the need for you to advertise. Another advantage is our multiple income stream concept, where if a client doesn't qualify for Loss Mitigation Services, we will route the lead into one of our other programs. That could possibly be a Foreclosure Bailout Loan or Lease Option.

What about competition?

Consider these facts: There are millions in foreclosure and mortgage delinquency; these numbers are expected to increase, creating High Demand! There are few Loss Mitigation firms that actually do what we do, giving you Low Competition! You have the perfect economic environment to start a Foreclosure / Loss Mitigation business.

There are very few companies nationwide that provide this service and there are millions of people in foreclosure and mortgage delinquency. Now is your opportunity to be one of the few in your area (assuming there are any in your area at this moment) to help these home owners.

Do I have to participate in the Reseller Program to earn an income with FFPS?

Absolutely Not! Our focus is Loss Mitigation. The Reseller Program is 100% Optional. However, consider this: Without the Reseller Program, we probably would not have found you. With FFPS you have the option of four powerful income streams.

START CONSULTING IMMEDIATELY AND
EARN THE TYPE OF INCOME YOU DESERVE!!

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

LOSS MITIGATION INDUSTRY OVERVIEW

2008-09-19T00:40:28Z

HIGH DEMAND! Millions in Foreclosure and Mortgage Delinquency.

Foreclosures and mortgage delinquencies are at an all time high and number in the millions. U.S. homeowners are losing their homes at record rates with no end in sight. The experts predict this is only the tip of the iceberg - in the next few years this epidemic will increase five-to-tenfold.

EXPERTS PREDICT THAT AMERICA WILL SEE CLOSE TO 7,000,000 FORECLOSURES IN THE NEXT 5 YEARS!!!.

"In a clear sign of serious unfolding problems, the Mortgage Banking Association (MBA) survey reports that 12% of Federal Housing Administration (FHA) loans are either in foreclosure or delinquent. The delinquency and foreclosure numbers are quite alarming and indicative (along with FHA data) of fundamental systemic lending shortcomings."

A Record Number Lose Their Homes. According to end of year foreclosure report: 800,000 entered foreclosure in the Second Half of 2008. That is OVER 133,000 foreclosures per MONTH!

So why are there so many homeowners delinquent on their mortgages? Real simple - people already live paycheck to paycheck; then they encounter unforeseen circumstances that affect their ability to pay a mortgage in a timely manner. The Mortgage Industry defines these situations as 'Hardship Conditions': Temporary job loss; medical illness or injury; marital difficulties; unforeseen repairs or high utility rates; tenant problems; even a death in the family. Just one of these situations can have a direct bearing on making home mortgage payments.

Once an individual misses two or more mortgage payments, the mortgage company (lender or investor) starts calling. If the hardship continues for 2-3 months, the communication channel breaks down - either the homeowner stops answering the calls, or the lender stops calling. Next stop? FORECLOSURE.

Housing Groups told Congress, "With no cash reserves, too many households are already just one paycheck away from financial disaster. FHA foreclosures are at record levels and are still climbing. As one local advocate put it, 'this is the worst time for foreclosures basically since the Great Depression."

MORTGAGE COMPANIES ARE IN THE "NOTE" BUSINESS - NOT THE PROPERTY FORECLOSURE BUSINESS

What the lenders fail to realize is this is now the time to communicate with the homeowner. 'Hardship Conditions' have a tendency to be temporary in nature. Many families or individuals have now rectified that hardship condition and can now resume making monthly mortgage payments. Although mortgage companies do have Loss Mitigation departments, the reality here is mortgage companies are in the "NOTE" business.

They are not in the business of collections, telemarketing, debt resolution or Loss Mitigation. Most companies have not allocated the resources to adequately staff and operate a Loss Mitigation Division. Some of these mortgage companies have hundreds or thousands of delinquencies monthly. From month to month, this caseload becomes so tremendous that it simply isn't feasible to continually contact these people who are delinquent to see if they are now in a situation to resume their mortgage on a monthly basis. This is why most mortgage lenders are unwilling to help, usually demanding full payment of everything in arrears. Although some people facing foreclosure are willing to walk away from their properties, most truly don't want to lose their most valuable asset - their home.

HOMEOWNERS ARE NOT FAMILIAR WITH THEIR RIGHTS OR OPTIONS

Most homeowners have no one to provide them with assistance in rectifying their delinquency situations - they simply aren't familiar with the rights or options they have available to stop the foreclosure process. As a result, they are inundated with dozens of calls from real estate investors, who naturally want their property, or attorneys, who advise them to file bankruptcy - not knowing that Loss Mitigation will earn the same fee, take less time, and produce a much more favorable result. These professionals do not have the homeowner's interest at heart, trying to take advantage of the homeowner's misfortune. Without some intervention from an outside source, foreclosure is right around the corner. This has created a massive niche market, untapped until now, creating a lucrative opportunity for you.

NICHE MARKET

MINIMAL COMPETITION

Loss Mitigation is the process of negotiating, on behalf of the homeowner, with the lender (or investor), stopping the foreclosure process, and coming to a settlement. It is meant to be a win-win-win situation for everyone involved (You, Homeowner, Lender). This is a well-hidden industry with little to no competition.

VERY FEW CERTIFIED LOSS MITIGATION CONSULTANTS

There are MANY so-called Foreclosure Prevention "Consultants" out there. Most are only looking for investment properties and are portraying themselves as Professionals interested in 'helping the homeowner'. They're not! At this moment, this is a predatory industry. There are a FEW Loss Mitigation companies acting on behalf of the homeowner - the competition is scarce or non-existent (check your local area).

Don't misunderstand here - when we say predatory, it is only because the Foreclosure Industry truly is a predatory industry at this point. MOST OF US are ignorant of Loss Mitigation and the promise it holds for people in foreclosure or mortgage delinquency. After all, before we introduced the term Loss Mitigation, had you ever heard of it? Neither have most investors and attorneys - they unknowingly think what they offer the homeowner is the only viable solution to their dilemma, not knowing there is another option - a better solution - Loss Mitigation!

THESE FAMILIES NEED OUR SERVICE
IT'S A HUGE MARKET WITH LITTLE OR NO COMPETITION!

THE HOMEOWNER COMES FIRST

What Loss Mitigation offers is an ethical alternative to approaching the homeowner in an attempt to help them save their home. Obviously, many homeowners won't qualify for loss mitigation. It would be remiss on our part, if we ignored these individuals and didn't try to at least help them avoid the foreclosure. How?

FORECLOSURE PREVENTION SOLUTIONS

When Loss Mitigation is not a viable solution, other options are available to create win-win strategies with the homeowner can be employed to help the homeowner avoid the foreclosure (possibly avoiding bankruptcy and 10 years of bad credit).

COMPANY

Freedom Foreclosure Prevention Services (FFPS) is an organization specializing in training certified Loss Mitigation Professionals. FFPS is privately held, debt-free, with over a decade of combined Marketing, Direct Sales and Loss Mitigation experience.

LOSS MITIGATION CONSULTANT PROGRAM - LMC

Our flagship product is the Loss Mitigation Consultant Program, called LMC for short. This one-of-a-kind, step-by-step educational program is designed to give you the training, support, tools and resources you need to become a successful Loss Mitigation consultant. Loss Mitigation Consultants can generate income utilizing our multiple income stream strategies while learning to become a Certified Loss Mitigation Consultant.

STREAMLINED CASE PROCESSING SYSTEM

You will immediately have access to pre-recorded training movie modules to jump start your business. After the basics, you can submit applications through our "Assisted Closing Program". Our staff of professionals can help you EARN WHILE YOU LEARN. You'll be able to get started quickly as an Independent Contractor of Freedom Foreclosure Prevention Services (FFPS). You don't have to beat these homeowners over the head! We're talking about saving their most precious asset. Once these homeowners are informed of your services - someone with the KNOWLEDGE, POWER and RESOURCES to STOP FORECLOSURES, they'll gladly talk to you. You don't have to beat these homeowners over the head! We're talking about saving their most precious asset. Once these homeowners are informed of your services - someone with the KNOWLEDGE, POWER and RESOURCES to STOP FORECLOSURES, they'll gladly talk to you.

YOUR UP FRONT CASE SUBMISSION PROCESS takes approximately 1 hour to COMPLETE

Step 1: Interview the potential client and take their application over the phone to submit their application through your fully automated Case Tracking System. This Step is averages 25-30 minutes.

Step 2: Within 1 to 3 business days, our Loss Mitigation Division will let you know if they are approved for our services. If they qualify, you send them the appropriate documents necessary to save their home. The homeowner completes the case paperwork. The paperwork and agreements are sent directly to FFPS. No handling of paperwork or Legal Liability! This step averages 20-25 minutes.

Step 3: After paperwork has been received, your notified to send out the Homeowner Package via Email or fax for the client to complete. This Step averages 10-15 minutes.

CONGRATULATIONS! You completed the entire up front process in approximately 1 hour - start to finish. NEXT CASE!

CREDIBILITY and LEVERAGE

With Freedom Foreclosure Prevention Service's track record of success, your clients will feel very secure and comfortable working with you and a well established company. The first benefit is your ability to Earn income. Another benefit to you is Leverage - just doing the up front case submission process of this service will free up YOUR valuable time, so you can focus on studying more or originating more Loss Mitigation cases if that's what you choose.

HOW DO YOU EARN INCOME SAVING PEOPLE FROM FORECLOSURE?

Your Loss Mitigation case fee is a usually a mortgage payment - our minimum fee is $1,250 and does not exceed $5,000*. You can ethically charge up to a house payment for the loss mitigation fee. FFPS pays a 40% commission to a fully trained and Certified Consultant for securing a case. Here is an example of what you can earn. If the client's house payment is $1,500 then you could charge the client $,1500 for the casework. Your commission would be $600 ($1,500 x 40%). On your standard cases of $1,250 you will earn $500 ($1,250 x 40%) for @ 1 hour of your time. That's over $500 per hour. Your earning potential could be UNLIMITED!

As your knowledge grows, we show you how to apply that Foreclosure Prevention / Loss Mitigation education to earn a healthy income. We make sure you have every marketing tool necessary for you to succeed. We make sure you get better educated and trained with FFPS than you would at a University - WITHOUT having to pay $20,000 a year for tuition! With our streamlined training program, we can get you up through your basic training in less than ONE WEEK, instead of having to wait years to apply that education!

* We discourage taking fees larger than a house payment or $5,000.

DISCLAIMER: Freedom Foreclosure Prevention Services, LLC (FFPS) makes no guarantees regarding income; FFPS provides training, tools and systems. Applying that education is up to you. You COULD earn nothing! With that said, we have documented proof of Consultants who have applied the education received here, and are earning $500+ per hour or more using our proven system.

WHAT MAKES FFPS UNIQUE?

This is not a biz-op or just another real estate course! If buying a book was all you needed for an education, colleges would be out of business. If buying a course from all these real estate gurus was all you needed to be rich, everyone would be a real estate millionaire. Here's the hard truth. Without any LIVE training and continuing education, few will experience any level of success. Information or knowledge, without the ability to apply that education, is worthless.

Everywhere you look these days, there seems to be someone else out there with another 'course' - a vehicle to wealth. Most will provide you with enough printed information to give you a basic understanding of various strategies. In fact, you can purchase competent real estate investing courses (text) for as low as $500.

TRAINING and SUPPORT

OUR TRAINING PROGRAM IS UNPARALLELED

We provide you with the BEST training possible as you begin in the Loss Mitigation Industry. We have multiple live training and marketing webinars weekly along with our Audio Archive and Training Center sections in the Members Only area, where you can get trained 7 days a week, 24 hours a day.

TRAINING IS THE DIFFERENCE BETWEEN FAILURE AND SUCCESS

We provide you with TRAINING and SUPPORT through state of the art movie training system; through our Online Support Center and e-mail exchange and updates; and through live customer phone support at the office. We give you time-tested methods to successfully achieve whatever financial goals you set for yourself. We simplify this process so that even the novice can succeed here.

We provide the finest training and marketing tools and resources. We don't just give you an opportunity and leave you alone to stumble along.

You will learn about:

Overview of the Foreclosure / Loss Mitigation industry

Why the homeowners and lenders are motivated to let you help them

How to pre-qualify clients

How to conduct a professional interview

How to build a referral network and get continuous leads

How easy it is to close each potential client within minutes

How to structure your business to earn unlimited income

NO NEED FOR EXPERIENCE

Our program is designed for people with no experience in sales, financing, real estate, marketing, business or consulting. This program was developed by experts to provide the training, and other tools other programs do not provide.

FFPS ONLINE SUPPORT CENTER

As part of your Loss Mitigation Consulting education, you receive unlimited access to the FFPS Online Support Center. There you will find a multitude of resources, tools, documents, record training webinars and conference calls - everything necessary to get you up and running in your first week.

Tools Available At The Click Of A Mouse:

Fast Start Checklist - To Jump Start Your Education
Internet Marketing Tools
Online Training Center & Libraries
24 Hour Recorded Training Movies and Calls

In addition, we are including for a limited time, at no additional cost, our Premier Website Packageconsisting of EIGHT Powerful Websites to help you to build and market your business as a Certified Loss Mitigation Consultant. These turn-key sites are designed to streamline your efforts. They can create leads, answer the homeowner's questions and qualify your prospects. We have no geographical limitations here. Have a local client or one across the country? It doesn't matter! These sites are accessible 24/7 from anywhere.

You Will Have Access to an Abundance of Marketing Tools and Resources:

Business Starter Package for People with No Experience;
Internet Marketing Tools
Proven and Tested Lead Generation Tools
Scripts for Interviewing Clients and Prospects
2 Email Autoresponders
Proven Ads and Ad Copy - full page, classifieds, post cards, letterheads, etc.
Dozens of Methods to Generate Your Own Leads
Lead Generation Programs IN PLACE

AND MUCH, MUCH MORE! Plus many other resources to help you quickly become a successful Certified Loss Mitigation Consultant. Want to find prospects? We'll outline dozens of methods for generating leads and prospects. Want to advertise? We have proven ads and ad copy, flyers, yard and street corner signs already formatted. Need to know the specific foreclosure laws in your state? Get on the site - the info's right there.

Consider the benefits of becoming a Certified Loss Mitigation Consultant:

Unlimited Income Potential
Low Start-Up Cost
Work From Home Or ANYWHERE
Full or Part-Time
Very Highly Motivated Clients
No Experience Necessary
Proprietary Systems in Place with Tools and Resources
Continuous Training and Support
No Inventory
High Demand
Minimal Competition
Lucrative Cash Flow

MULTIPLE STREAMS OF INCOME

Loss Mitigation
Optional LMC/JVM Reseller Program
Credit Repair Referral Program

CONCLUSION

WE WILL:

TEACH YOU OUR STREAMLINED LOSS MITIGATION SYSTEM.
SHOW YOU HOW TO APPLY THAT EDUCATION TO EARN AN INCOME.
GIVE YOU EVERY MARKETING TOOL NECESSARY FOR YOU TO SUCCEED.
TEACH YOU HOW TO CAPITALIZE ON OUR MULTIPLE INCOME STREAMS.
CONTINUE TO TRAIN AND SUPPORT YOU.

Loss Mitigation is the tool to get you in the front door of Real Estate Investing. Yes, this can be a very lucrative opportunity. Here's the bottom line. We have genuine products and services that help people. We help people like you earn a lucrative income and Together, We help families across America save their homes.

The Tuition Fee for the LOSS MITIGATION CONSULTANT PROGRAM Dual Package Program
(This cost covers tuition for 2 people) NOW ONLY $1,997
or
LOSS MITIGATION CONSULTANT PROGRAM Single Person Package
(This cost covers tuition for 1 person) NOW ONLY $997
Included:
Unlimited Access to the Online Support Center and Training
8 Professional Websites and Fully Automated "Real Time" Case Tracking System All Necessary Documents and Forms
Lifetime Subscription to Premier Website Package - $107.99 per Month Value - Included!

Loss Mitigation is the tool to get you in the front door of Real Estate Investing. Yes, this can be a very lucrative opportunity.

Foreclosure Help

Here's the bottom line. We have genuine products and services that help people. We help people like you earn a lucrative income and Together, We help families across America save their homes.

CLICK HERE

The Foreclosure Epidemic Has Arrived!

2008-09-19T00:38:39Z

A record percentage of U.S. homeowners are facing foreclosure and many more are falling behind on monthly house payments. Foreclosures and mortgage delinquencies number in the millions. According to reports, consumer debt, foreclosures, bankruptcy filings and mortgage delinquencies are higher than at any other time in history. Families are losing their homes at record rates, and experts are predicting higher numbers this year. The only viable option for most of these homeowners is loss mitigation.

The Loss Mitigation Industry is Exploding! The foreclosure problem is spiraling out of control across America due to Predatory Lending and American jobs being continuously outsourced to other countries. National mortgage defaults and Foreclosures statistics are at all time highs. With Adjustable Rate Mortgage (ARM) payments beginning to rise by 30%, 40% and 50%, we have yet to see the worst of the foreclosures!!

Total Foreclosure Filings	2,203,295
Total Properties with Filings	1,285,873
%Change from 2006	+74.99
%Change from 2005	+148.83

Map courtesy of RealtyTrac.com

Freedom Foreclosure Prevention Services, LLC Saving Homes Across America^{^TM}

Loss Mitigation is the process of helping delinquent homeowners, in or close to foreclosure, to save their home. How? By representing them and negotiating on their behalf with the lender; using government and non-government programs and regulations, and other proprietary techniques to resolve the delinquency and keep them in the existing mortgage and home. Our vision is to provide homeowners across America with an ethical, effective alternative to foreclosure and home loss.

Become part of the Solution and join the growing numbers of successful professionals who are discovering the financial benefits of becoming a Loss Mitigation Consultant. If you are pioneer and looking for a something more, do not miss this opportunity to help others. If you are currently in the Real Estate, Mortgage, or Real Estate Investing industry, learn how to enhance your business with Loss Mitigation.

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

California (CA) Foreclosure Laws

2008-09-19T00:37:05Z

When you develop a definite plan of action with well-timed, well-informed steps, you can stop the foreclosure process and save your home. We have outlined the foreclose process for the state of California.

Judicial foreclosure available:yes
Non-judicial foreclosure available:yes

Non-judicial Sale

Typically, a title insurance company is named as the trustee to arrange the sale of the real estate.

California is famous for its one-action rule, in which a lender must carefully elect one action to take against the borrower if the borrower defaults. If the lender forecloses the deed of trust out of court, the lender has chosen one action and may not bring a lawsuit to recover a deficiency, which would be a second action. If the lender chooses to sue the borrower and obtain both a foreclosure order, and if the proceeds of the judicial sale of the real estate are not sufficient to repay the loan balance, then a deficiency for the balance. Such a suit is permitted as the lenders one action.

California lenders rarely elect judicial foreclosures.

Preliminary Notices

Notice of Sale

The notice of sale must contain the name, street address and phone number of the trustee conducting the sale and the original trustor, along with a statement warning borrowers that their property is about to be lost at a public foreclosure sale and to contact a lawyer for an explanation

The notice must give the street address. If no street address exists, the notice must state the address of the beneficiary from whom a set of directions to the property may be obtained if they are requested in writing within ten days from the first publications of the foreclosure notice.

Advertising

A copy of the notice of sale must be posted in a conspicuous place on the property to be sold at least 20 days before the sale. If access to the property is restricted by means of a central guard gate, then the notice must be posted on the guard gate. A copy of the notice must be posted at one public place in the city where the property is to be sold (or judicial district in rural areas) at least 20 days before the sale.

Recording

A notice of trustee sale must be recorded at least 14 days before the sale

Mailing

A notice of trustee sale must be mailed by certified mail, return receipt requested, 20 days before the foreclosure sale to the borrower, to anyone who requests notice or recorded a request and to the trustors, beneficiaries or parties at interest.

Sale Procedures: Non-judicial

Time

All sales under a power of sale in a deed of trust will be made between the hours of 9:00 a.m. and 5:00 p.m. on any business day, Monday through Friday, at the time specified in the notice of trustee sale.

Place

The sale shall commence at the location specified in the notice of sale.

Manner

The sale must be made a public auction to the highest bidder. The trustee has the right to require every bidder to show evidence of ability to pay the full bid in cash, cashiers check or certain bank checks. Each bid is by law an irrevocable offer to purchase. However, a higher bid cancels an earlier bid. It is unlawful and a criminal offense (a fine of $10,000 or up to one year in jail) to offer anyone consideration not to bid, or to fix or restrain the bidding process in any manner.

Postponement

Sales may be postponed by announcement at the time and location specified for the intended sale. The borrower may postpone the sale in order to obtain cash, provided the written request for postponement identifies source from which the funds are to be obtained, and the postponement is only for one business day. The borrower may obtain one such postponement.

Reinstatement

Debtors may reinstate up to five days before non-judicial foreclosure sale.

Junior

Junior lien holders may no longer redeem, so they may try to protect themselves by (1) advancing funds to bring the senior loan payments current, then foreclosing for the sums advanced; (2) bidding at the foreclosure sale so the price will be sufficient to pay off the senior and the junior liens; or (3) acquire the property by bidding at the foreclosure. If the debtor has a right to redeem and does so, the junior who purchased the home must be reimbursed. Junior liens do not reattach the property if a borrower redeems a senior lien whose foreclosure extinguished the junior. This helps borrowers by encouraging the junior to bid up to the property to fair market value at the foreclosure sale, or else lose out, giving borrowers closer to fair value at sale.

Deficiency

Lenders may not seek a deficiency judgment if (1) the foreclosure is non-judicial or if (2) foreclosure is on a purchase money obligation. The same rules do not apply to guarantee or later lien holders. The lenders may seize alternative collateral. If the lender forecloses by filing a lawsuit, then the lender can obtain both a foreclosure sale order and a judgment against the borrower for a deficiency after the court-ordered sale, but only for the difference between the judgment and the fair value of the security.

Redemption

A borrowers right to redemption is terminated when a deficiency judgment is waived or prohibited. When redemption is permitted, after judicial foreclosure, only the borrower can now redeem and junior lien holders or "redemptionors" may not. When the lender is permitted to seek a deficiency, elects to pursue a deficiency and forecloses judicially, the borrower may redeem 12 months after sale, but a full credit bid by the lender cuts it to 3 months.

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Loss Mitigation Glossary

2008-09-19T00:36:17Z

Accelerate
An option given to lenders through an "acceleration" clause in the mortgage or deed of trust requiring the borrower to pay the entire balance of the loan all at once if their loan is in default

Affidavit
A sworn statement in writing usually given while under oath or in the presence of a notary.

Appraisal
The process in which a licensed or authorized person gives an estimate of property value.

Appreciation
The difference between the increased value of the property and the original value.

Assignment
The transfer of property to be held in trust or to be used for the benefit of the creditors (lenders).

Bid
The offered amount for a property for sale at auction.

Certificate of Sale
A document given to the winning bidder at a foreclosure sale stating their rights to the property once the borrowers redemption period has expired.

Clear Title
A title that is not burdened with defects.

Credit Bid
A bid on behalf of the lender at a foreclosure sale. The bid amount must be less than or equal to the balance of the loan in default.

Decree
A judicial decision.

Deed
A signed document that transfers ownership of property from one party to another.

Deed-in-lieu of Foreclosure
An instance where borrowers voluntarily convey their rights in a property to the lender.

Deed of Trust
A three party security instrument conveying the legal title to real property as security for the repayment of a loan. The three parties included in a deed of trust are the borrower, lender and trustee.

Default
A mortgage or deed of trust is said to be in default when the borrower fails to make the payments as agreed to in the original promissory note.

Deficiency Judgment
A personal judgment against the borrower for the remaining balance on the loan after a foreclosure sale.

Equitable Title
The present right to possession with the right to acquire legal title once a preceding condition has been met.

Fair Market Value
The price a property would sell for on the open market.

Foreclosure
The forced sale of property pledged as security for a debt that is in default.

Free And Clear
Ownership of property free of all indebtedness.

Judicial Foreclosure
A foreclosure that is processed by a court action.

Lien
A charge upon real or personal property for the satisfaction of a debt.

Legal Description
A formal description of real property sufficient to locate it by reference to government surveys or approved recorded maps.

Lender
A person who lends money for temporary use on condition of repayment with interest (i.e., the bank, mortgage company, etc.).

Lis Pendens
A recorded notice of pending lawsuit.

Mortgage
A written pledge of property that is used as security for the repayment of a loan.

Non-judicial Foreclosure
The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A "power of sale" clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of their default.

Notary
A public officer licensed by the state to attest to and certify the validity of signatures of others. A notary is often referred to as a notary public.

Notice of Sale
A notice giving specific information about the loan in default and the proceedings about to take place. This notice must be recorded with the county where property is located and advertised as stated in the security document or as dictated by state law.

Personal Property
Property other than real property consisting of things temporary or movable.

Posting
To publish, announce or advertise by physically attaching a notice to an object.

Postponement
Postponement means to put off to a later time. In the case of a foreclosure sale, this is generally done by announcement at the original sale or by posting notices establishing the new date and time the foreclosure sale will take place.

Right of Redemption
A borrower's right to reacquire property lost due to a foreclosure.

Request for Notice
A recorded document requiring a trustee send a copy of a Notice of Default or Notice of Sale concerning a specific deed of trust in foreclosure to the person who filed the document.

Subject To
The purchase of a property with an existing lien against the title without assuming any personal liability for the liens payment.

Title
The instrument that is evidence of a person's right in real property (i.e., a deed).

Trustee
A neutral party who advertises the foreclosure property for sale and conducts the auction to sell said property to the highest bidder.

Trustee Sale
An auction of real property conducted by a trustee. Also known as a Sheriff's Sale.

Upset Bid
A recorded bid placed after a foreclosure sale has ended that is higher than the highest bid received at the actual foreclosure sale.

Writ
An order or mandatory process in writing issued in the name of a court or judicial officer commanding the person to whom it is directed to perform or refrain from performing a specified act.

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Frequently Asked Questions on Foreclosure

2008-09-19T00:35:33Z

What is Foreclosure?

When homeowners fall behind on mortgage payments, a foreclosure may occur. A foreclosure is a process in which a financial institution repossesses or sells a piece of property because of a loan default. Mortgage lenders usually consider a mortgage to be in default when payments haven't been made in three months. When a mortgage loan is in default, the mortgage lender can start the foreclosure proceedings on the property.

There are basically two types of foreclosures: judicial foreclosure and non-judicial foreclosure. About a third of the states in the nation use judicial foreclosure. This type of foreclosure involves issuing a lawsuit against the homeowner. If the homeowner does not respond to the lawsuit, the mortgage lender wins the case and the home is put up for sale in an auction. A court official presides over this auction and sells the seized house to the highest bidder. The mortgage lender also puts in a bid during the auction. This bid amount can go up to the amount owed on the home loan. If no bidder beats the mortgage lender's bid, the mortgage lender gets the title to the home. If the bidding goes higher than this bid amount, then the winning bidder is issued the deed to the house.

A non-judicial foreclosure is a foreclosure that does not involve a lawsuit. The mortgage lender issues the homeowner a notice of default and a notice of its intent to sell the homeowner's property. The homeowner has a chance to stop the sale by paying the default amount owed or by coming to an agreement with the mortgage lender. This agreement may include setting up a repayment plan and being allowed the option of delayed payments for a specified amount of time. The homeowner can also stop foreclosure by filing for Chapter 13 bankruptcy. If the homeowner fails to stop the foreclosure, the house is auctioned off in the same manner as a judicial foreclosure.

A foreclosure can also occur without a sale. In a strict foreclosure, the title of the house goes directly back to the mortgage lender without the need to go through an auction.

Once the mortgage lender has the title to the house, it can sell the house through a real estate agent. Proceeds from the sale of the house would go towards paying off the default amount of the former homeowner's mortgage loan. However, if the proceeds of the sale are not enough to cover the owed amount, a deficiency judgment is issued to the former homeowner. For example, if a home sells for $80,000 and the balance on the mortgage loan was $100,000, the former homeowner is still liable for the $20,000 difference. Deficiency judgments, as well as the foreclosure itself, could do severe damage to the homeowner's credit.

In other words, a homeowner will lose his home if it is foreclosed on by the lender.

How do you stop foreclosure?

Our company specializes in resolutions of mortgage delinquencies or home foreclosure claims on behalf of you, the homeowner. We perform a detailed financial analysis and work with you to determine your best alternatives. We review your lenders loss mitigation policies and your state's foreclosure law to make sure that we give you the best service within the context of your situation. By working with you and your lender we can tailor a resolution to meet your specific criteria and financial circumstance.

How long do I have to act?

Time is of the essence when you are behind on house payments. Time is definitely not your friend in this situation. Each day that passes makes it that much harder to get an agreement worked out with your lender that you can live with. The home foreclosure process can take anywhere from a few weeks to months, depending on your state law and the method of foreclosure your lender chooses to use. We have encountered many homeowners who did not even know that they had already lost their house!

What is foreclosure? Common misspellings include: forecloser, forcloser,forclosure.

Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state, which determines how long the foreclosure process can take.

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Loss Mitigation Programs That Stop Foreclosure Fast!

2008-09-19T00:34:34Z

Stop Foreclosure with Loss Mitigation Programs

Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures. They help foreclosure victims in default on their mortgages to find alternatives to home foreclosure. Every homeowner's situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender. After performing a thorough assessment of your personal finances and analyzing your lender's loss mitigation policies our professional loss mitigators will negotiate with your lender to get you the best possible solution to your home foreclosure problem. We can help you save your home and credit history through a variety of loss mitigation options:

REPAYMENT PLAN

If you have incurred a short term financial hardship and your loan is two or more months past due, your loss mitigation specialist will also consider submitting a request for a payment plan to your lender for approval. Only after reviewing your financial situation will this option be considered. All clients must be able to show that they can afford this plan in order to be eligible. Click here if you want to talk to a loss mitigation specialist about participating in this program.

SPECIAL FORBEARANCE
(FHA loans only)(Type I and II)

If you have incurred a short term financial hardship and your loan is 90 days to 365 days past due, the loss mitigation specialist will also consider submitting a request for a special forbearance. A special forbearance is designed to provide you with more relief than is possible with a regular repayment plan. Typical approval can result in spreading the repayment over 12 to 18 months. Type II - can be utilized in an unemployment situation whereby the promise of future employment is present. We have done VA loans that resulted 27-month repayment plans. Click here if you want to talk to a loss mitigation specialist about participating in this program.

LOAN MODIFICATION

If you have incurred a long term financial hardship, our office can assist you in supplying the appropriate information to lender to take the appropriate measures to modify the term(s) of your mortgage. This could lower the interest rate and/or extend the term of the loan resulting in lower payments. There are costs and fees associated with a modification that you will be responsible for. All property taxes must be current or you must be participating in an approved payment plan with your taxing authority to be eligible for a modification. Any additional liens or mortgagees must agree to be subordinate to the first mortgage. All requests are subject to your lender's approval. Click here if you want to talk to a loss mitigation specialist about participating in this program.

VA LOAN MODIFICATION/REFUNDING

A refunding is when the VA buys your loan from the lender. Refunding may give VA the flexibility to consider options to help you save your home that your current lender either could not or would not consider. When the VA refunds a loan under 38 U.S.C. 36.4318, the delinquency is added to the principal balance and the loan is re-amortized. Your new loan will be non-transferable without prior approval from the Secretary. If your interest rate was lowered and an assumption is approved, the interest rate will be adjusted back to the previous rate Click here if you want to talk to a loss mitigation specialist about participating in this program.

PARTIAL CLAIM
(FHA mortgages only) (Some Freddie Mac Investor loans)

The loss mitigation specialist may assist in requesting a partial claim if you qualify. You may be eligible if your loan is 120 to 365 days past due. A partial claim results in placing your past due payments into a subordinate mortgage (2nd mortgage) between you and the Secretary of Housing Urban Development. The partial claim note will require you to start making payments when you pay off the first mortgage. There is no interest. The partial claim can be for no more than 12 months of past due payments. Click here if you want to talk to a loss mitigation specialist about participating in this program.

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Seeking Partners - REALTORS / BROKERS / LOAN OFFICERS

2008-09-19T00:28:18Z

CLICK the Banner Above to Learn more!!!

DON'T WASTE ANOTHER MINUTE - TIMING IS CRITICAL!

WARNING: If you are currently in mortgage distress and choose to take no action to protect yourself from foreclosure your lender has the legal right to obtain a deficiency judgment against you. They may garnish your wages, contact military command, levy personal property, and attach liens to collect any sums not received at the home auction. If your mortgage is guaranteed by the VA or FHA (HUD) they will take action to protect their interest. You may also incur additional liability with I.R.S. if your home is foreclosed on.

PUT THE POWER OF THE TOP FORECLOSURE PREVENTION FIRM TO WORK FOR YOU. We understand the stress you and your family are going through, facing the possibility of losing your home, the threat of eviction and having nowhere to go. You can rest assured we'll explore every option available to you.

SAVING YOUR HOME IS AS ...

EASY AS 1, 2, 3!

SUBMIT YOUR FREE FORECLOSURE PREVENTION CONSULTATION REQUEST FORM. There is no obligation.

WE WILL EVALUATE YOUR CONSULTATION REQUEST AND HAVE AN ANSWER FOR YOU WITHIN 72 HRS!

WE WILL NEGOTIATE WITH YOUR LENDER, ON YOUR BEHALF, FOR THE BEST WORKOUT PROGRAM AVAILABLE. Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

STOP Foreclosure

2008-09-19T00:25:44Z

Click the Banner Above to Learn more!!!

STOPPING FORECLOSURES ACROSS AMERICA! WE WORK FOR YOU, NOT YOUR LENDER. We have been Saving Homes Across America and have over 15 years of combined experience saving homes for people like you. We are experienced Foreclosure Prevention Consultants working together to help you stop the foreclosure process and save your home. We specialize in out-of-court resolutions of government and non-government mortgage delinquencies and foreclosure claims against homeowners. These can be FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans, which have become delinquent. Are you behind on your mortgage payments? Are you being threatened with eviction from your home? Has the court served you with foreclosure papers? Are you worried about having a foreclosure or bankruptcy on your credit report for the next 7-10 years? Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Short Sale Riches - The Secrets for Investors

2008-09-19T00:23:14Z

Investors!!! Think you can't FLIP in today's market? WRONG!!!
I have the PROVEN Formula/System approved by an attorney and BEST of all it has been tried and proven.

MUST be serious about closing 3 - 5 deals a month and making 10 - 20k per deal.
MUST have great credit and 50 - 100k in liquid assets.

Skeptical? Do something about it and email or call me!

This is the REAL Deal! I am not asking for you to pay for a system. I am asking you to work the system with me. WE will create a POWER Team that will do a lot of the work.

Chris Plumb, Keller Williams Realty, 916-230-9087

Foreclosure Help, Chris Plumb, Fair Oaks Realtor, Sacramento Realtor, Roseville Realtor, Foreclosure Expert, Foreclosure Assistance, Mortgage Help, Mortgage Troubles.

Debt Relief Act 2007

2008-09-19T00:21:15Z

Did you know on December 20, 2007 President Bush signed into LAW...

THE MORTGAGE FORGIVENESS DEBT RELIEF ACT OF 2007

H.R. 3648

If you're at least 30 days behind on your mortgage, then your mortgage company is willing to consider completely forgiving a significant portion of your mortgage debt (provided you go through the proper process). The portion they forgive, under H.R. 3648, is NO longer counted as personal income and CANNOT be taxed by the federal government!

So if you are behind on your mortgage, I'd like to introduce you to the light at the end of the tunnel...Program 3648. Program 3648 is a nationwide initiative whose mission is to:

Help homeowners receive the mortgage debt forgiveness this new law encourages.
Rescue as many homeowners from public foreclosure as possible.

You'll be pleased to know that under PROGRAM 3648:

You receive all services, consultation, and information absolutely FREE. Guaranteed!
You're assigned a certified program administrator to do all the work for you.

I am actually the certified program administrator in Sacramento & Placer County assigned to do all the work for you. My team is currently helping hundreds of homeowners receive the debt forgiveness they need to stop a potential public foreclosure!

Now if you're like me, you're skeptical when someone claims to offer everything for free. These days, most people claiming free services have hidden costs that pop up somewhere. Well I'm pleased to inform you that is not the case with Program 3648. At no time will you ever be charged one penny.

As you can imagine, we have limited capacity to help homeowners for free. So those that call right away are usually the only ones that get helped.

I cannot emphasize enough that time is of the essence.

The longer you wait the less likely I can help you!

Call now

916-230-9087

Yours to count on,

Chris Plumb

Certified Program 3648 Administrator

P.S. Regarding H.R. 3648, President George W Bush stated,

"My administration has taken strong steps to help homeowners avoid foreclosure...The provision will increase the incentive for borrowers and lenders to work together...So this bill will create a three-year window for homeowners to...pay no taxes on any debt forgiveness that they receive."

Beautiful Home in Anatolia Estates by JTS

2008-08-14T23:44:57Z

Investing in Apartment Buildings

2008-07-26T00:24:17Z

I would like to recommend a wonderful book by David Lindahl: "Multi-Family Millions."

About the Book

Over the last 14 years, I've built my real estate fortune the real-world way-by finding what works, applying it, and then improving on it. If you want business theory and lots of historical charts, this book is not for you. On the other hand, do any of the following sound familiar?

If you want business theory and lots of historical charts, this book is not for you. On the other hand, do any of the following sound familiar?

· You like the idea of real estate investing but simply have no

idea where to find the time to do it;

· You have little or no money to invest, so you don't see any way to

break into real estate;

· You're suspicious about those "late-night TV gurus" who sound interesting,

but something just doesn't feel right about their "no money down" approach.

If you answered "yes" to any of these questions, then Multi-Family Millions definitely is for you. Here's just a taste of what you'll discover in the book:

· Why repositioning can work for you regardless of your experience level.

· Forget about going out and finding deals. Here's how to attract them to you.

· A proven system that's tailor-made for people who have only bits and

pieces of time to put into real estate.

· How to analyze deals using the very fewest numbers-and how to find

numbers you can actually rely on.

· How you can have dozens or even hundreds of tenants work all month

to pay you rent, while you never talk with them or have any dealings with
tenants at all.

· How to cultivate the happiest tenants in the community, who pay their rent

on time and become your goodwill ambassadors, spreading your good
reputation and attracting even more tenants.

· The 80/20 Rule of Value Creation: The top 20 percent of improvements

that will maximize the value of your property.

· The 10 biggest mistakes investors make when repositioning, and how

to avoid them.

· You'll read case histories of people across the United States who've

applied this system and no longer need a day job. It's that powerful.

Let Multi-Family Millions be your real-world guide to a different, more effective way of profiting from real estate.

Purchase the book at: http://www.multifamilymillions.com/

www.ThePlumbTeam.com

Chris Plumb, 916-230-9087

HAPPY INVESTING! It is a journey and I love.

3 Key Fundamentals for Finding Good Deals as an Investor

2008-07-07T21:03:15Z

Chris Plumb with Keller Williams Realty has invited Donna Robinson, the Director of The Real Estate Arena to provide an article this week.

Chris Plumb Website: www.ThePlumbTeam.com (916) 230-9087

3 Key Fundamentals for Finding Good Deals

By Donna Robinson, www.REIUonline.com

To find deals you have to find and evaluate leads.

But finding and evaluating leads takes time. Most investors take too much time on the initial process of qualifying leads, or don't know what to look for initially.

To find more deals you have to sort through as many leads as possible, as efficiently as you can.

I find it best to begin my initial lead evaluation by focusing on 3 key fundamental issues. If I find a lead that has one of more of these 3 keys going for it, I know that I have a solid lead. At that point I will want to begin to examine the details of the deal and crunch the numbers. But if none of these 3 keys is present, the chances of getting a true investment grade deal are not good.

As a matter of general averages, a good property locator will look at 9 solid leads to get one contract. If you are not looking at solid leads, your closing ratio could be 50 or 100 leads to one deal. That gets very frustrating. When the closing ratio is more than 50 to 1, it is a definite sign that you are not focusing on leads with strong fundamentals that can "make" the deal.

Most new investors tend to think of leads in terms of houses. So they go through the process of examining every house in detail, driving out to view it, doing a repair estimate and all that on every lead. Those details come second. The first 3 keys tell me whether to even bother to drive out and look at the property.

Number one on my list of key fundamental issues is Seller Motivation. Without a motivated seller who is willing to find a way to make the deal work, there is very little likelihood of getting the necessary cooperation on terms or price. A highly motivated seller will work with you to get a win-win deal done, and make it much easier on everyone involved.

Sometimes the seller is motivated, but there is a problem withkey fundamental number two, Existing Financing. If the seller has "maxed-out" their available financing on the property, carrying 2^nd, 3^rd, or even 4^th mortgages on their property, they may be motivated to do a deal, but financing issues may prevent them from following through.

The existing financing issue leads us to key fundamental number three, Existing Equity. If the property has a significant amount of existing equity, an investor grade deal is possible. I would define "significant" equity as a minimum of 35% of total value. In other words, a $100,000 house with $35,000 worth of equity has a lot of potential.

Some strategies like wholesaling simply cannot work without significant equity. Other strategies, like "buy & hold", may work with as little as 20% equity. When equity is less than 15% a short sale may be needed.

Seller Motivation, Existing Financing, and Existing Equity are the 3 key fundamentals that determine whether any lead is a "hot" lead or not.

I would define a "hot" lead as any lead that has a good mix of all 3 of these fundamentals. Those are the leads that have the most investment potential both in terms of overall profit and the ability to sell quickly to another investor.

The good news is you can use seller motivation as a search criteria. If you do a lot of your prospecting online you can search your area for leads that include keywords like:

"Seller motivated"

"Will look at all offers"

"Bank owned"

"Must sell"

These type searches help quickly locate listings or ads with key words pertaining to seller motivation. I also count the term "bank owned" as a motivated seller term, simply because we know the bank is not going to live in the property and they can discount the price if they are so inclined.

Seller Motivation does not necessarily mean a bad situation like foreclosure or job loss. I have done some great deals with sellers who were motivated to give me a good deal simply because they had already gotten a good deal, and were still making money themselves. Successful investors may offer good deals to their colleagues simply because they can, not because they have to.

Existing Financing influences your ability to do creative deals involving seller financing. If the existing financing is desirable, you can choose to leave it in place, and this can become the basis for any number of creative strategies. But if this financing is undesirable, a creative deal is much more difficult, if not impossible, since a new funding source must be obtained.

If the loan is assumable, (rare these days but still possible), it can make things much easier. When interviewing the seller it is of key importance to get details on the existing financing.

Existing Equity is a major advantage in any situation. Even if the seller is not motivated to cut his price, he can still offer good terms. A seller with equity is a seller with flexibility. At that point it is only a matter of how motivated the seller is to work with you.

To increase your efficiency, cut down on secondary details and focus on searching for leads that have one or more key fundamentals in place. Your leads-to-closings ratio is bound to get better, and that should make you much more profitable.

The information in this article is based on "The Real Estate Investors Guide To Buying Right", by Donna Robinson. Which is included in the On Demand Training section of your TREA virtual office.

Getting to Closing as a Real Estate Investor

2008-07-03T18:43:24Z

One of the most unpredictable parts of the process of buying real property is the closing. New investor or experienced pro, the deal always comes down to getting it closed. In Georgia, it is called simply "closing". In other states, it may be referred to as "settlement" or "closing of escrow". The "closing" is the meeting at which the buyer pays for the property, and the seller delivers the deed to the buyer. All matters pertaining to the agreement and the financing are concluded.

If there are matters that remain unresolved, they may cause the closing to be postponed or canceled altogether.

If you want to learn more about investing, please contact Chris Plumb.

Chris Plumb (916) 230-9087

Email: chris@theplumbteam.com

Website: www.ThePlumbTeam.com

Can you flip in Sacramento California? Call or email me and I will tell you!

TOP 10 REASONS TO WORK WITH REAL PROPERTY MANAGEMENT

2008-06-24T18:25:23Z

Chris Plumb with Keller Williams Realty in Fair Oaks, CA has invited Real Property Management in Sacramento California to write an article for this blog. I highly recommend Real Property Management. They are experienced in Property Management.

Chris Plumb Website: www.ThePlumbTeam.com

Phone Number for Chris: (916) 230-9087

TOP 10 REASONS TO WORK WITH REAL PROPERTY MANAGEMENT

Performance

You want a high-performing real estate investment. At RPM, we get it. That's why we help you add quality tenants with properly maintained real estate. It's that simple. We're available to our tenant base and for any questions or concerns our owner-clients may have regarding their investments.

Management Team

Collectively, the RPM management team has over 100 years of hands-on real estate expertise including over 22 years of property management experience. RPM manages over 10,000 units nationwide for real estate investors just like you.

Experience

In real estate, experience matters. Chances are we have seen and experienced many of the situations that you have questions about. We also have experience in financial services, tenant-in-common/1031 exchanges, private placements, risk management, and insurance.

Management Strategy

Your time is priceless. RPM provides complete property management services so that you don't have to spend any time managing or worrying about your real estate investments. Our strategy is to maximize return-on-investment for owners by using innovative and effective property management policies and procedures. Our system has been refined through practical use for over 22 years and is proven to produce highly successful results.

Proprietary Policies and Procedures

We pride ourselves on having the highest level of efficiency and effectiveness that smaller operations just can't match. We have proven experience that translates to cost savings and increased performance in managing your real estate portfolio.

National Presence

RPM has offices all across the U.S. and is rapidly expanding as demand for quality management increases. Our national status allows us to provide our owner-clients with discounts on services necessary in the property management business. We pass these savings on to ensure maximum profitability.

Real Estate Investment Benefits with No Hassle

We make sure you get all the benefits without all the hassle normally associated with managing a real estate portfolio. That's why we handle advertising, showings, screening, rent collections, coordinate maintenance, regular inspections, and plow through the eviction process if necessary. You receive your draws on a monthly basis along with a detailed statement showing your portfolio's performance.

Dedicated Customer Service

At RPM, we're there when it counts. All of our property managers have cell phones, voicemail, and email which they can retrieve while in the field. Our office is also staffed with people that pick up the phone. RPM understands that when you call you deserve to speak to someone immediately.

Recordkeeping & Reporting

You need proper accounting and easy access to your portfolio's records. That's why RPM utilizes proprietary software to manage your portfolio's maintenance and accounting needs. This includes report generation and is especially set up for owners with email access. We have a dedicated staff perform all accounting functions according to industry best practices and current regulations. We provide our owner-clients with monthly and annual statements along with year-end 1099's.

Communication

In our experience, we've found that tenants with complete access lead a longer and more fulfilling tenancy. We have automatic tracking set up to ensure all communications are snapped to your portfolio for accurate follow up and complete client history. We also offer our tenant base an online portal to ensure all lines of communication are open and available. This translates directly to your portfolio with less turnover, more income stability, and less maintenance costs.

Providing Investors with Professional Real Estate Solutions

About RPM

Real Property Management is the leading provider of real estate investment management services, dedicated to bringing all the benefits without all the hassles of owning real estate to investors through effective and efficient proprietary management policies and procedures. Please visit our website at www.rpm-sac.com.

Get a Free Rental Quote

RPM offers several free services that can help fill your vacancies faster. Give us a call for more information about the list of free services and reports we can provide.

Questions?

Go to www.rpm-sac.com, email us at info@rpm-sac.com, or call us at (916) 331-0800. We look forward to speaking with you.

Real Property Management

Northern Sacramento

4811 Chippendale Drive # 306

Sacramento, CA 95841

916 331-0800

www.rpm-sac.com

How To Pick An Investing Strategy That Will Work

2008-06-24T18:17:55Z

Chris Plumb with Keller Williams Realty has invited Donna Robinson, the Director of The Real Estate Arena to provide an article this week.

Chris Plumb Website: www.ThePlumbTeam.com (916) 230-9087

by Donna Robinson www.TheRealEstateArena.com

I often get email from investors asking me how they can tell which real estate investing strategy is ideal in their city. From the perspective of a new investor it can often be difficult to decide what particular strategy you should use in a given area.

There are two essential ways to break down a real estate market for residential real estate investing. One is geographically and the other is demographically.

In the case of Geographics let's say we have an investor who lives in Cobb County, GA and he or she only wants to buy and sell properties in Cobb County. Since this investor has chosen to limit themselves to a specific geographic location, they will be limited to the deals (i.e. Strategies) that they find most readily available in Cobb County.

For example, if you are in a suburban area that has lots of new construction, you may find more retailing opportunities to owner occupants. You will also find some rentals and virtually nothing suitable for Wholesaling because everything is too new. And, the majority of properties in new areas have very little equity. Short Sales are the big way to create equity in newer markets right now, due to foreclosures.

If you are in an older area such as inside a major city, where there are thousands of older properties and many fixer uppers, you are much more likely to find wholesale, rehabs and rental property deals but relatively little new construction.

So when it comes to choosing a strategy, your choice will be dictated by the situation. Is there a lot of equity to work with? Perhaps wholesaling is the best choice. Is there very little equity to work with? And it's a pre-foreclosure too? Then a short sale might be the only way to make the deal work.

On the other hand many investors choose a strategy and then try to find a house that fits that strategy. For example if you want to be a real estate wholesaler, you have to go where the wholesale deals are.

This is what most professional wholesalers will do. They don't limit themselves to a small geographic area. They travel all over their area in order to find all the potential wholesale deals that they reasonably can. They may limit their territory somewhat, but generally they will cover a wide geographic area to find only the wholesale deals.

Their focus will be on contacting owners of older properties that are abandoned, or need lots of repairs. This is because these properties generally represent the best opportunity for lots of equity and a flexible seller.

If you are a wholesaler you don't want to waste your time contacting owners of 2 year-old houses with no equity.

Wholesalers who do this are using the demographic method. They are not looking in a particular location, they are looking for a particular type of seller.

Demographic prospecting means using more of a mass marketing technique, and targeting pre-foreclosures, health issues, job transfers, probate, divorce, and the whole range of life related events that can lead a person to become a motivated seller.

It is more common among professional investors to search for deals demographically rather than limit themselves to specific geographic locations. However this means you must have a willingness to drive sufficient distances to check leads. I personally have driven more than 200 miles in a single day, while viewing as many as 12 properties. At that point I was specifically looking for wholesale opportunities so I had to go where those opportunities were.

Had I wanted to stay close to home, which is a newer area, with lots of houses built in the past few years, I would only pursue strategies that work with pretty houses, such as lease options, subject-to or buy and hold, because my geographic area is newer and therefore it contains very few wholesaling opportunities.

It can take you some time to get a feel for the types of deals that are most likely to be found in your area. If you are in an older area mostly built prior to 1970, then chances are very good that you would find more wholesaling opportunities.

If you live in a new area where most of the construction is less than 10 years old you would find more opportunities with less equity.

Retailing to owner occupants on a Lease with Option to Buy, is my personal favorite strategy in suburban neighborhoods that are predominately owner occupied. You can make that deal work at 80% LTV, instead of the 65% LTV you need for wholesaling.

So, one key to determining what strategy to use in what area is to look at the age and condition of the properties in that area and make offers that work for those properties.

In larger metropolitan areas, the outlying suburbs are much more likely to be ideal for retailing, or buy and hold strategies. The in-town neighborhoods in the older parts of the inner city are better suited to strategies like wholesaling, because older houses tend to have more equity and need repairs.

Newer houses usually have less equity and therefore are better candidates for creative cash flow strategies, like "lease with option to buy", or "subject-to the existing mortgage".

Creative cash flow strategies may require less equity where Wholesaling strategies will require more equity in order for the numbers to work.

In todays market, with foreclosures at an all time high, many investors are using short sales to create equity where none exists. REO's are also a great source for discounted buying opportunities, due to the high amount of inventory banks currently have available for sale. Where over-supply exists, banks will be forced to cut deals until demand catches up. That probably won't happen in many hard-hit markets until 2009. In this market many deals are "made" not "found", by savvy short sale negotiators.

Any strategy only makes sense if the numbers work. Regardless of where you are located, and whether your market is "hot" or "cold", the bottom line is -- what will cost you? and, Can you sell it or rent it for more than it will cost? ***

Donna Robinson is a real estate consultant, licensed agent, and real estate investor in metro Atlanta, GA. She is also the Director of The Real Estate Arena, a unique web-based company that provides investor education and business tools for real estate investors and the professionals who work with them. For more information on TREA, go to www.TheRealEstateArena.com

New Listing

2008-06-23T23:25:59Z

New Listings

2008-06-23T23:22:05Z

Writing An Offer as a Real Estate Investor

2008-06-19T18:21:05Z

Once you have found a property, evaluated that property, calculated the Market Value, and have the repair estimate in hand (based on the fundamental details that apply), and determined a reasonable strategy, it is time to write an offer.

Offers to purchase real estate must be made in writing. You can make a verbal offer to a seller, and the seller might say "yes", but until you put it in writing and get both parties to sign it, there is no binding agreement.

I am taking new investors as clients. Please call or email me!

Chris Plumb, 916-230-9087 or chris@theplumbteam.com

Website: www.ThePlumbTeam.com

Real Estate Investors Evaluation Tools - PITI Calculator

2008-06-17T13:31:52Z

When evaluating properties specifically for rental income, it is important to check your likely monthly payment against the amount of rent you reasonably expect to receive. You want to make absolutely sure that you know what your payment will be and that your rental income will be higher than your payment. Sounds simple, but this is a very common mistake that new investors make.

Check out my website to learn more at www.ThePlumbTeam.com

Keller Williams Realty, Fair Oaks, CA

Chris, (916) 230-9087

Real Estate Investors Evaluation Tool - Estimating Repairs

2008-06-16T19:32:08Z

In the www.TheRealEstateArena.com you will learn how to properly evaluate a property by estimating the cost of repairs.

Here is a tip from the Real Estate Arena:

Note that your area may have higher or lower costs per unit. It is a good idea to spend a couple of hours at your local building supply store, pricing items so that you can develop your own per unit item costs. I have also included a blank version of the inspection form so that you can insert your own cost information. You will also need to insert your local costs into your spreadsheet form, so that it can calculate your local costs accurately.

To learn more about investing in the Sacramento Area contact Chris Plumb with Keller Williams Realty.

Website: www.ThePlumbTeam.com

Chris Plumb, (916) 230-9087 - Direct

Keller Williams Realty, Fair Oaks, CA

Evaluation Tools - Talking to Sellers

2008-06-13T10:56:50Z

It is important to understand how to speak with sellers. It is very important to always ask the seller on the phone or in person, if this is a good time to speak. Always get permission first. Sellers will respect you for it.

In www.TheRealEstateArena.com, you will learn how to speak with sellers. You will learn how to quickly evaluate if a seller is motivated. You will quickly know by asking several questions if their property will work with your numbers.

I would encourage anyone who is an aspiring Real Estate Investor, a Beginner, or an Expert to sign up to use www.TheRealEstateArena.com. It has been a wonderful tool for me. It has given me the foundation and structure to being a successful Realtor working with Real Estate Investors and to be an expert at Real Estate Investing myself.

Please call me to learn how I can help you in Sacramento, Placer, or El Dorado County. I specialize in working with Real Estate Investors.

CALL TODAY: 916-230-9087 - Chris Plumb

Website: www.ThePlumbTeam.com with Keller Williams Realty

Evaluation Tools - Knowing Your Market

2008-06-12T11:55:00Z

There are three appraisal methods used to determine the After Repair Value, (aka Market Value) of a Property:

1. Reproduction Cost

2. Capitalization of Income

3. Comparable Market Analysis

NOTE: Due to changing market conditions in early 2006, I advise that you use the newest comparable's possible, and use the dollars per square foot method shown above to determine your ARV. Comparable's on appraisals can go back as far as 12 months. When market conditions are changing, this is too far back to go for valid real time sales data. Otherwise, you may pay too much without realizing it.

To learn more about these three appraisal methods, check out www.TheRealEstateArena.com

My Website: www.ThePlumbTeam.com

Seller Motivation in Real Estate

2008-06-11T10:56:57Z

Motivation is usually a key part of any real estate purchase that is considered to be a "good deal". Generally, sellers who do not have to hurry to sell their property are much less likely to accept a below market price, or agree to terms such as seller financing.

Below are some of the most common reasons for seller motivation among private individuals.

Marriage
Divorce
Bankruptcy
Loss of Employment
Job Transfer
Health Problems
Liquidating assets due to aging
Inherited a property
Legal Judgment
Death of a spouse
Built or bought another house, need to sell the old one
Behind on payments, foreclosure is a threat or has been filed.
Payments are too high
Problems with tenants
Owner lives out of state

Why are Banks, Lenders, and Institutions motivated to sale?Like private owners, banks, and other financial entities can become motivated by certain factors that directly affect their bottom line.

Increasing foreclosure rates
Too many REO's on the books
Property has been on the market over 30 days
Property is in poor condition and will be expensive to repair.

To learn more about these great tips, check out www.TheRealEstateArena.com.

I am inviting investors as clients. I only work with a total of 25 select investors. I will share my knowledge and expertise in exchange for the opportunity to bring you on as a new client.

I look forward to hearing from you soon!

Chris Plumb - (916) 230-9087 Direct or chris@ThePlumbTeam.com

Website: www.ThePlumbTeam.com