David's Blog

Lenders are becoming Benders!!! Watch me work this $675,000 Masterpiece!

David Hayes (Buyers Account, LLC) — Thu, 06 Mar 2008 16:15:34 -0600

Ok I've got to tell this story about a phone call I just sat through with a friend that is 5 months late on a $675,000 mortgage ($600K 1st & $75K 2nd) on an exclusive loft in Atlanta.

My Friend, has owned this loft for years and received an appraisal of $780,000 almost 2 years ago when he refinanced into his current 5 year ARM.

The unit cost him over $6,000 per month in first, second and HOA and like I said he hasn't made a payment in 5 months and calls quit coming a month or so ago so he figured all hope was lost.

Well get this.

I get him to call and YES he was still an active customer of theirs and they were very happy he called to discuss his current situation and how they can rectify things as soon as possible. I said I was his realtor and that in my opinion the loft was worth at most $530K and I could not recommend that my client try to hold onto the property at these current levels and "My Client Needs, No Is Demanding" that they follow what Bernanke said today and cut his principle down to the current market value.

There was silence for a while but he came back to say that something like that was very new and that "XYX" mortgage company did not do any type of permanent changes to loans, so there would be nothing that could be done. "Sorry"

So I say very loudly that the property is lost and my client doesn't want to hear from them again.

Now the representative changed in 1 second and goes. Listen, I know you own your own company and times get tight but if things got better for you soon could you get things worked out, you've owned the place for a while now... Right?

So that was a little bend but get this.

The guy says "Hey you know that if you had a sale even a short sale that would hold things off for a while. He goes on to tell us that their short sale department is absolutely swamped now and a contract submitted to them would sit there for a couple months before they even decided anything. He finished it off with "You know, if you just need some time to work something out, then you just need to "Work Things"..... You know?"

Here is my point.

This guy is 5 months late and close to $30,000 behind in payments. Now his mortgage company is so "Bend-Able" that they are even telling him how to hang on for a little longer...

These are some cRaZy TiMeS!!!!

Buyers Account Opens 3 New Offices And Saves A Family From Disaster!

David Hayes (Buyers Account, LLC) — Tue, 04 Mar 2008 16:26:36 -0600

Buyers Account Earned Income Program Saves Family From Disaster and The Company Opens 3 New Offices in Order to Provide Fair Down Payment Assistance for Home Buyers in These Troubled Times.

Confirming the need for fair and equitable down payment assistance programs Buyers Account announces the opening of 3 new offices in Scottsdale, Arizona, Sacramento, California and Orlando, Florida. Staffed with knowledgeable and experienced real estate professionals these new offices will provide local access to the unique Buyers Account Earned Income down payment assistance program. Be sure and read about the Kennedy family who had lost all hope until they found Buyers Account.

Delray Beach, FL (PRWEB) February 28, 2008 -- Confirming the need for fair and equitable down payment assistance programs Buyers Account announces the opening of 3 new offices in Scottsdale, Arizona, Sacramento, California and Orlando, Florida. Staffed with knowledgeable and experienced real estate professionals these new offices will provide local access to the unique Buyers Account Earned Income down payment assistance program.

Even though the mortgage industry is in shatters, people still need to move their families and buy homes. How does a regular guy with a family and a good job qualify for a loan in today's market? Let me tell you how. Through a very specific, open and fair program based on the IRS definition of 'Earned Income.' What is 'Earned Income?' It is exactly that. It is 'Earned Income' or 'money earned through employment' and that earned income can be used in just about any manner in a real estate transaction to pay down payments, closing costs or other fees.

Existing down payment assistance programs are being shut down in droves. These programs were fundamentally flawed because they 'Gifted' money without collecting taxes. The Buyers Account Earned Income program fixes that problem, complies with RESPA and is growing at a breakneck speed.

This program saves distressed sellers, helps able borrowers and stabilizes the real estate market while being fair, honest and open. Is this creative financing? Sure, it is...and in today's market it must be but this new program is fair, open and all above board so its future seems guaranteed in a market where down payment assistance is needed more than ever.

Listen to this story.
Paul Kennedy's family needed to close on their new house by the end of the month and his lender was demanding more down payment funds. Paul didn't have the additional down payment and was going to loose his dream home plus the deposit he had already put down. Making matters worse new tenants were moving into his current apartment so he had to be out at the end of the month. Paul had no place for his family to live.

Paul felt like all hope was lost until, he found the unique and inventive 'Earned Income' program offered by Buyers Account that provides a legal and RESPA compliant way for a home owner to give up some profit to help sell his house. That is exactly what Paul Kennedy did and now Paul and his family now live in their dream home at a value they can afford. Paul joined the Buyers Account program and his new job paid him a commission of $55,000 dollars which was used to put a 20% down payment on that home. His only obligation is to pay taxes on that money at years end.

The home seller agreed to purchase a valuable membership to the nation's largest association of home owners and leaves it with the house. By giving up some of their profit the sellers were able to separate their home from the others in the market and get it sold.

Head of Marketing, Patricia Looney recounts many stories like this were Buyers Account has saved a deal at the last minute. "We pride ourselves on helping our employees and customers, especially now in these turbulent times." She continues, "We fully disclose all information and never put a lien or any type of 2nd mortgage on the property, so everyone wins."

I think she is right.

Everyone Win's with this program.

· Distressed home sellers give up some of their profit to sell the house faster.

· Home buyers get property at reduced values.

· Home buyers qualify for and buy a home with a mortgage they can afford.

· Home values are not artificially lowered due to the owner's need to sell quickly.

· The values of other homes in the neighborhood are not lowered by artificial price drops.

· Lenders get exactly what they expect to get.

· The equity stays with the house as no other liens are in place.

· The membership stays with the house.

For more information about the Buyers Account program visit their website at http://www.buyersaccount.com/

Down Payment Assistance Through Earned Income Program Helps In Today's Market

David Hayes (Buyers Account, LLC) — Tue, 04 Mar 2008 11:10:17 -0600

If you don't know about it, the down payment assistance program offered by Buyers Account is helping buyers regardless of their credit or history.

www.BuyersAccount.Com

Our unique "Earned Income" program will allow distressed sellers to sell their homes instead of being foreclosed on. It helps buyers get homes they can afford with equity built in and it helps local property values by not artificially lowering prices because your neighbor must sell quickly.

Please check out program out and come back often as we are adding local offices across the country everyday.

Contact me if you have any questions.

David Hayes

561-703-2388

Positive Effect On Neighborhood Values When Earned Income Programs Are Used

David Hayes (Buyers Account, LLC) — Thu, 28 Feb 2008 19:24:23 -0600

People often believe that home values when set by sales prices are a fair representation of the Fair Market Value of the home. Reasons often relating to market drivers and references to Adam Smith seem to lend credence to the argument but when examined under a fine microscope you find the opposite to be true.

Fair Market Value is not defined by the sales price of a home. The sales price is the wildest variable in the equation and only represents the current financial, emotional and personal situation of the home seller at that moment in time. Homes are sold for pennies on the dollar in certain circumstances and for more than their value in others. That is what Adam Smith was referring to....

A homes Fair Market Value is defined as it should be by a professional appraiser. I am a strong proponent of the Fair Market Value Sales Theory for Real Estate and will define that more in later blogs.

Now what is the positive effect that DPA's and specifically "Earned Income" DPA's like The Buyers Account, DP Funder and DP Now programs? Nothing much unless you live in the neighborhood. You see, when a home sells for less than the Fair Market Value it artificially lowers the values of the homes around it.

Homes only sell for less than the Fair Market Value when the seller's particular situation dictate that he sell his property before he wait long enough to receive its Fair Market Value. Sellers use many methods to enhance their homes for a quicker sale. Lowering their price is the "Old Standard" way of enhancing their homes for sale but as we see from above that can actually hurt your home, neighbors and neighborhood.

With Earned Income programs your seller can sell the home they need to sell while helping a buyer purchase a home with substantial equity and a mortgage that they can afford while not negatively effecting local values.

Down Payment Assistance through Earned Income. 6 deals closed in November!

David Hayes (Buyers Account, LLC) — Tue, 18 Dec 2007 04:16:36 -0600

Buyers Account provides a unique and innovative "Earned Income" program that allows the buyer to "Earn" the money he needs for a down payment right when he needs it. NOW!

Do you have buyers who don't have enough down payment funds? WE CAN HELP!

By using our program your clients can buy their dream home with a large down payment making the loan easier to get and payments easier to handle.

www.BuyersAccount.com

JP Sansariq. Realtor Extraordinaire and Short Sale Master!

David Hayes (Buyers Account, LLC) — Thu, 18 Oct 2007 09:07:23 -0500

I wanted to give a special thanks and acknowledgement to JP Sansariq and let everyone know what an amazing realtor and Short Sale Expert he is.

His work ethics are second to none and he will go out of his way to assist his clients in any way possible. I know him to work diligently for every client he has and will not stop until he has found the right house for the right person.

JP is a top notch realtor and is quickly becoming an industry leader in the art of Short Sales and boy does the market need him now. JP understands the complexity of managing a difficult relationship with the lender and how to structure you conversations with them regarding a short sale. He is never at a loss for advice when asked and just seems to know all there is to know about Short Selling and real estate.

If you have questions about Short Selling and you are not asking JP Sansariq then you are hurting yourself and your clients.

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

David Hayes (Buyers Account, LLC) — Fri, 12 Oct 2007 09:21:21 -0500

Don't worry about the other DPA's shutting down.

Earned Income DPA's are still alive and functioning and in fact are specifically approved in the new HUD Ruling. Here is the comment from the report.

Comment: Real estate agents should be permitted to use their commission to fund the downpayment where the real estate agent is the buyer/mortgagor, because the commission is earned, and not a seller contribution or gift.
HUD response: The circumstance described by this comment are not affected by this rule, because a borrower's earned income, such as a real estate agent's commission, is a permissible source of downpayment.

http://www.buyersa

ccount.com/

When you can't use the gifting DPA's the earned income programs can help!

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

David Hayes (Buyers Account, LLC) — Fri, 12 Oct 2007 09:18:11 -0500

Don't worry about other DPA's shutting down.

Earned Income DPA's are still alive and functioning and in fact are specifically approved in the new HUD Ruling. Here is the comment from the report.

David's Blog

Lenders are becoming Benders!!! Watch me work this $675,000 Masterpiece!

Buyers Account Opens 3 New Offices And Saves A Family From Disaster!

Down Payment Assistance Through Earned Income Program Helps In Today's Market

Positive Effect On Neighborhood Values When Earned Income Programs Are Used

Down Payment Assistance through Earned Income. 6 deals closed in November!

JP Sansariq. Realtor Extraordinaire and Short Sale Master!

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE at Buyers Account, LLC

Down Payment Assistance for ANYONE through the "Earned Income" program at Buyers Account, LLC

Down Payment Assistance for ANYONE at Buyers Account, LLC

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

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Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.

Ameridream and Nehemiah are going away but we're still here.