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commercial real estate: SERS not MERS! - 02/24/11 12:05 PM
SERS not MERS!
If you have been a reader of The Hallmark Abstract Sentinel then by now you are aware of MERS and the controversy that surrounds it. The Mortgage Electronic Recording System has been at the heart of questionable foreclosures due to standing issues, as well as for having aided in the avoidance of untold millions in recording fees not paid to counties.
It was only a matter of time before someone came up with a way to digitize marriage recordings in a system known as SERS, the Spouse Electronic Recording System (H/T 4closure Fraud).
@font-face { … (1 comments)
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commercial real estate: Commercial Real Estate Loans Maturity "Tsunami" On The Horizon - 03/31/10 08:59 AM
The Residential Shoe Has Dropped, Now Time For Commercial?
Everyone is only to aware of the dramatic impact that the drop in residential home prices have had on the people involved in each transaction as well as on the economy as a whole. Refinances, which had been the lifeblood for many in terms of providing liquidity have all but disappeared. Home, equity lines of credit, once readily available, are now difficult to get and in many cases are actually being called in. Foreclosures are running rampant as those under water are in many cases walking away. Unemployment in double digits … (1 comments)
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commercial real estate: Commercial real estate: Save on utilities expense to grow the value of your building - 03/10/10 02:18 PM
Why is saving money so critical?
Is that even a real question? Saving money on utilities expense when you are the owner of commercial real estate means that more of the cash flow from all of the rents being collected goes into your pockets. And isn't that the reason you bought the building in the first place?
There is another reason to want a larger NOI
While it is true that reaping more yearly from your cash flowing business is a large plus, buyers of commercial real estate have one other hope when they enter into the purchase. That the value … (0 comments)
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commercial real estate: Commercial Real Estate: Buy When Everyone Else Is Selling - 02/09/10 03:48 PM
Buy When Everyone Else Is Selling and Sell When Everyone Else Is Buying
Human nature being what it is makes this very tough. People like to go with the herd, but that is not where fortunes are made. Fortunes are often made when you can buck this trend and do what is most difficult.
The old saying in the stock market is that you want to be buying when no one else wants them. What does this mean? Simply put, when fear reaches a crescendo and people are either frozen or panic selling, the savvy will step in and scoop up … (3 comments)
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commercial real estate: As-Is Apartment Building Note For Sale In The Bronx, New York - 04/22/09 02:12 PM
I am the mortgage holder on an 80% completed, 16 unit building on Fairmont Place in the Bronx, New York.
There are 12 one bedroom units and 4 two bedroom units. The anticipated rent for the one bedrooms is $1,200 a month, and $1,450 for the two bedrooms for gross annual rents of $242,400 .
Because it is currently under construction we are valuing it on a times rent roll basis as opposed to net operating income, but we estimate the finished value to be between $1,700,000 and $2,000,000.
We are currently entertaining offers for our note, and are available to go over … (0 comments)
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commercial real estate: Commercial Mortgage Training - 04/13/09 07:09 AM
In this market, if you are still originating mortgage loans congratulations. This has been by far the most difficult market seen in a long, long time. That said, the key going forward is to have as much knowledge as you possibly can in order to differentiate yourself from the next mortgage broker. This also aloows you to work on every viable deal, without having to get someone else involved.
If you are an investor, these are the times that you wait for all of your career. As they say in the stock market, you want to be a buyer when all … (0 comments)
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commercial real estate: Mortgage Deals Can Still Be Closed! - 04/08/09 01:50 PM
Release: $4.375 million Bridge Loan Closed
In these difficult times, Exeter Commercial LLC is happy to announce that we have closed a $4.375 MM Bridge Loan. While we have been closing smaller commercial mortgage deals on purchase and refinances of income producing property, larger, more complex deals are still possible to get done.
What Makes A Deal Possible In This Market?:
Good Collateral in the form of the subject building or property A clear and concise executive summary of the proposed transaction. The project, the players, a source and use of funds, a pro-forma of the potential of the … (0 comments)
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commercial real estate: Where Do The Markets Go From Here? - 10/27/08 09:48 AM
Where Do The Markets Go From Here? What Market Am I Talking About?The answer to that question is really that it is the readers choice to decide. Whether we are talking about housing, mortgages, commodities, stocks, bonds, currencies or commercial real estate, we are at what can only be called an extremely elevated state of flux and angst in all of them.Some good news came out of the the housing sector on Friday with a greater than expected number for existing home sales from September. While good news, the reality is that the housing sector remains stalled and borrowers that want … (0 comments)
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commercial real estate: Mortgage Modifications: What Are They? - 10/24/08 07:45 AM
Friday, October 24, 2008
Mortgage Modifications: What Are They? Watching Stock Market FuturesI had been asked to write a piece on mortgage modifications that I was not going to post on my blog, but watching what could be a Black Friday in the markets has inspired me to submit it.If You Are Late On Your Mortgage Payments Or About To Face A Foreclosure Action: You Do Have Options!Do Not Just Assume That Your Lender Holds The Upper HandMortgage Loan Modifications:
Why It Is Critical To Use An Experienced Professional
What Happens To Your Home When You Can No Longer Afford Your … (1 comments)
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commercial real estate: Survival Tips: Managing Your Business During A Down Market - 10/06/08 02:09 PM
Monday, October 6, 2008
Survival Tips: Managing Your Business During A Down Market The stock market is down 700+, the VIX is close to 60, and I figurured that this would be a great time to reprint an article from a blog that I read every day, The Mortgage Cicerone. The article refers to belt tightening practices and the ways of running your business, particularly in bad times.I came up out of my bomb shelter to write it.The information, if you are not already thinking in this direction, is some good food for thought, and a lot of it can … (5 comments)
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commercial real estate: A Bailout Package Is Coming Into View - 09/25/08 12:17 PM
From The Commercial Mortgage, Real Estate and Political Hotline .
A Bailout Package Is Coming Into View The Bailout: Where We Stand (and where the mortgage and real estate industry's futures stand)I was watching CNBC this morning as I have been throughout this whole crisis, and listened to Jack Welch, former Chairman of GE talk about the goings on, when news came out that apparently an agreement had been reached in principle in congress on the bailout plan that has been hotly debated for the past few days.I can't be sure, but I think I then heard a congressman, who I believe … (0 comments)
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commercial real estate: Existing Home Sales: The Chicken Or The Egg - 09/24/08 01:50 PM
From The Commercial Mortgage, Real Estate and Political Hotline at http://commercialmortgagehotline.blogspot.com
Wednesday, September 24, 2008
Existing Home Sales: The Chicken or the Egg
The Economic DataExisitng home sales dropped from the previous reading, although it was in the neighborhood of the forecasts. My question is this, which goes right along with the current freeze that we have in the banks willingness to make new loans.While we are in an economic slowdown, and as such new home sales would be expected to decline some, how much of the actual decline is due to the slowdown in economic activity, and how much is … (0 comments)
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commercial real estate: Know Your Lenders That Are Lending And Goldman Sachs - 09/24/08 05:09 AM
From The Commercial Mortgage, Real Estate and Political Hotline at http://commercialmortgagehotline.blogspot.com .
Know Your Lenders That Are Lending and Goldman Sachs Some Late Breaking News On Goldman Sachs and Warren Buffett
The "Oracle of Omaha", Warren Buffett, has agreed to invest at least $5 billion into Goldman Sachs in the form of perpetual preferred stock that is paying 10%. He is also receiving warrants to buy $5 billion in Goldman Common at a strike price of $115. The fact that Buffett, a conservative investor who only invests where he has a high level of comfort, has this type of confidence … (2 comments)
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commercial real estate: The Bailout, Real Estate, Mortgages, Economy and the Stock Market. Oh Boy! - 09/23/08 12:34 PM
The following was reprinted from The Commercial Mortgage, Real Estate and Political Hotline. Visit at http://commercialmortgagehotline.blogspot.com , and sign-up to receive email or feed notification of new entries.
Monday, September 22, 2008
What's My Prognosis Doctor?Oh boy!!! Here we go again. We had a great reversal day in the stock market on Thursday which led into a great day on Friday on news of a mortgage market and financial institution bailout plan. This all combined with a massive short squeeze on the 799 financial stocks that the SEC instituted a short sale ban on.We then had a Monday where Goldman and … (1 comments)
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commercial real estate: The Government Rescue Plan: What Are They Talking About? - 09/22/08 09:05 AM
We have changed the name of our blog from The Commercial Mortgage/Real Estate Hotline to The Commercial Mortgage, Real Estate and Political Hotline. Same content, same commentary.
Visit us at the same place: http://commercialmortgagehotline.blogspot.com .
Sunday, September 21, 2008
The Government Rescue Plan: What Are They Talking About?
What Is This Government Bailout All About?I gotta be honest. I watch a ton of business news, read all of the trade publications and am still not 100% clear on the US Government bailout plan, and how it will affect the mortgage markets, housing markets and banks ability to resume lending.It took MIT … (2 comments)
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commercial real estate: The Mortgage Crisis: A Funny Look At A Very Serious Problem - 09/19/08 07:37 AM
From The Commercial Mortgage/Real Estate Hotline at http://commercialmortgagehotline.blogspot.com
Friday, September 19, 2008
The Mortgage Crisis: A Serious Story Viewed In A Very Funny Way Some Quick Current EventsIn a week of unprecedented developments, today brings us some more.The SEC has banned the short selling of 800 financial stocks for a couple of weeks. Not an up-tick rule or needing to be able to borrow and deliver the stock, but a ban. Today will be a short squeeze rally of epic proportions.There is a proposal to institute insurance on $1 in and $1 out money market funds to avoid the run … (4 comments)
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commercial real estate: Analyze a Commercial Mortgage Loan Plus The Financial Markets - 09/17/08 08:03 PM
Wednesday, September 17, 2008
Analyze a Commercial Mortgage Loan Plus The Financial Markets
See Me On EzineArticles.comIf you missed the presentation on the process and tools that you need to analyze a commercial mortgage loan on income producing property, please visit http://ezinearticles.com/?expert=Michael_Haltman , and you will be able to read my 4 part series on how to get it done.In a day or two, you will also be able to read my article, Underwriting Through The Eyes Of An Underwriter, which will teach you the way that you need to deal with underwriters, once the current mess plays out and … (0 comments)
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commercial real estate: Time To Start Moving Forward? - 09/17/08 07:27 AM
From The Commercial Mortgage/Real Estate Hotline at http://commercialmortgagehotline.blogspot.com .
Wednesday, September 17, 2008
Time To Start Moving Forward? Back To Basics With Marketing
AIG, AIG, AIGThe meltdown in the financial markets was averted for now as the Federal Government stepped in with an $85 billion bridge loan to AIG. What this shows us after the bailout of Bear Stearns, the willingness to let Lehman Brothers die and the bailout yesterday is that the government has made it clear that they will get involved if in its' estimation a failure would cause catastrophic market results.While people argue back and forth as … (0 comments)
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commercial real estate: Enough Of All This Damn Doom And Gloom - 09/15/08 09:02 AM
From The Commercial Mortgage/Real Estate Hotline at http://commercialmortgagehotline.blogspot.com
Monday, September 15, 2008
Enough Of All Of This Damn Doom and Gloom
Enough Already!OK. I think that we have established that there are some big problems out there, and today is going to be very interesting. But you know what? At the end of the day what happens to Lehman and AIG and everyone else does not in actuality put food on my table and send my kids to college.We will revisit the situation of course since it is going to be extremely dynamic and course setting for our financial system. For … (2 comments)
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commercial real estate: Market Events: Pick Your Poison! - 09/15/08 05:50 AM
Reprinted from yesterday's blog at The Commercial Mortgage/Real Estate Hotline at http://commercialmortgagehotline.blogspot.com .
Sunday, September 14, 2008
Market Events: Pick Your Poison!
I am not happy todayThe tone of my blog today is not one of happiness and joy unfortunately. I have spent the weekend watching and listening to the events that are unfolding somewhere down in lower New York City. Another investment bank teeters on the edge of going out of business after being in business since the 1800's. The Fed, the Treasury and the heads of all the other major financial institutions are involved in the … (0 comments)
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Michael Haltman
Jericho,
NY
More about me…
Hallmark Abstract Service LLC
Address: 131 Jericho Turnpike, Suite 205, Jericho, NY, 11753
Office Phone: (516) 741-4723
Email Me
The Hallmark Abstract Sentinel is written for the purpose of keeping our clients and subscribers current on any issues that may have the potential to impact the real estate, mortgage or title insurance markets.
Examples of these issues include the current foreclosure crisis and the potential that foreclosures already completed could be overturned due to a variety of legal issues.
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