banks: Lenders Imploding Watch - 09/06/08 08:10 PM
I know a lot of you have seen this site, but if you haven't, please take a look at www.lenderimplode.com. It is truly eye-opening.
If you are ever feeling giddy or overly optimistic, take a look at this site and it will bring you back down to earth. Can Fannie and … (6 comments)
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banks: "Short Sales" The Realtor Cure for the Common Foreclosure!! - 09/06/08 10:12 AM
"Short Sales" The Realtor Cure for the Common Foreclosure!!
Now that the word "Foreclosure" is as common, as other less desirable words like "Cancer", "Teen Pregnancy" and "Child Neglect", it is time for us as a society to except it, take reasonability and fight it. Like all plagues; social and medical; … (7 comments)
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banks: It's Thursday Morning...FDIC Bank Seizures Occur On Friday Evening - Its Silver State Bank Of Nevada - 09/06/08 12:06 AM
It's Thursday Morning...FDIC Bank Seizures Occur On Friday Evening
...Oh Thursday morning, Thursday morning couldn't guarantee...That Friday evening the FDIC would not be here with my money and me...Every other day, every other day...Every other day of the week is fine, yeah But whenever Thursday comes, but whenever Thursday comes You … (3 comments)
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banks: Greetings! Here is your daily mortgage report compliments of Roger Hunt/ Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.) 650.796.0326 - 09/05/08 01:34 PM
Greetings! Here is your daily mortgage report compliments of Roger Hunt/ Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.) 650.796.0326
Friday's bond market has opened in positive territory following the release of weaker than expected employment numbers. The stock markets are showing another weak morning with the Dow down 105 points … (13 comments)
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banks: Are you considering applying for a loan? Ask lender these questions first! - 09/04/08 05:36 PM
1. What is the interest rate for this loan? This should be your first question. Often lenders will advertise an extremely low rate and then switch you to a higher rate, or more points or additional fees.
2. Is there a Pre-Payment Penalty for this particular loan? Some loans do and … (1 comments)
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banks: Mortgage Interest Rates Move Down Again But Still Relatively High - 09/04/08 04:31 AM
Mortgage interest rates moved down again this week. This marks the fifth week in a row where 30 Year mortgage rates have either fallen or held steady. This is of course good news for people looking to buy a house. This is also good news for the real estate market. A … (1 comments)
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banks: American Incentive Resolution - Healthy Capitalism, A Radical Procedure: Foreclosure-ectomy & Transplant - 09/03/08 07:40 PM
I don't know...there is more to this story than meets the eye. Banks are not handing out loans, and hanging onto properties without letting them go for less than current market prices for a reason.
Do you think the banks are not strategizing?
The AMERICAN way is … (0 comments)
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banks: 5 Things Banks Won't tell You, Part 2 - 09/03/08 05:57 PM
6. "We're excited about your trip to Europe, too!"
It's bad enough that the dollar is hovering near historical lows against most major currencies, but when you travel overseas, every transaction comes with big fees attached. Take out cash from an ATM in London, and you'll get hit with a foreign-transaction … (1 comments)
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banks: 5 Things Banks Won't Tell You, Part 1 - 09/03/08 05:49 PM
Do you assume that your bank serves your best interests? That a big bank's products are better? That your online account information is accurate? Don't believe any of it.
1. "Our branches are there to sell you, not serve you."
In the late 1990s, bank branches were considered outmoded relics soon … (1 comments)
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banks: Ever make a mistake this big - 09/03/08 09:31 AM
Did you hear the one about the parachutist that landed in the football stadium to deliver the game ball, in the wrong stadium. Well, it happened last Saturday. "Doh", Homer would say.
I am sure we all have made mistakes and now more than ever people are in a living … (6 comments)
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banks: Is Being "Almost in a Recession" Like Being A "Little Pregnant"? - 09/01/08 11:42 AM
Banks Inducing Housing Market Coma - My previous posting.
Our economy can't stay "frozen forever" teetering on the truth about being in a recession. So, I have been thinking what may be in store for us...
...I think banks are going to DRAMATICALLY DROP THE PRICES of the foreclosures they have been hanging onto (?next … (0 comments)
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banks: A picture of the lady who named Security Bank, now First Security in Searcy AR - 08/30/08 07:16 AM
What a treat to put up this old picture. These two ladies worked at a bank in Searcy Arkansas and there was a contest to name the bank. Reportedly the one on the right won the contest with the name Security Bank. This lady also is the mother of Anita, who comments … (12 comments)
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banks: Networking Is Great !!! - 08/29/08 10:24 AM
Networking Is A Great Tool
You have real estate to sell or looking to buy. I provide the place!!!.
Free Real Estate Classifieds, $8.00 Real Estate Auctions, $8.00 Real Estate Trades.
You can put a Real Estate Store in iWannaTrade.com's mall.
Thanks to my wonderful customers feedback you now have … (0 comments)
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banks: THE MOST IMPORTANT LINK IN THE “REO CRISIS” - 08/28/08 08:42 PM
I am a firm believer of this statement and it’s important that you really take it in. THE MOST IMPORTANT LINK IN THE “REO CRISIS” IS THE REAL ESTATE AGENT! PERIOD. Without the foot soldiers (you and I) the Bank Repo’s would sit, rot, and get vandalized. The agents … (9 comments)
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banks: Mortgage Interest Rates Move Down Slightly And The Impending Takeover of Freddie Mac and Fannie Mae - 08/28/08 03:42 AM
Mortgage interest rates moved down slightly this week. This was a good sign since it was not preceded by any rate cuts from the FED. The 30 year mortgage rate fell from 6.52 to 6.47 and the 15 year mortgage rate fell from 6.07 to 6.00. For arms the … (1 comments)
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banks: Why A Thorough Pre-Approval Is Important - 08/28/08 01:20 AM
The "American Dream" of Homeownership is bound to cross every individuals thought sooner or later. Some spend a lot of time imagining their wants, calculating their needs and envisioning the key in hand. All too often people make the mistake of coming up with their own financial approval (The price they … (6 comments)
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banks: FDIC Running Low ON Funds - 08/27/08 09:39 AM
Have you ever had to sit and ponder whether orn not to file an insurance claim? Say you pulled out of the garage before the door had opened all the way or in the case of my mother-in-law you just flat forgot to open it in the first place.
So you're … (7 comments)
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banks: Aug 26th: More DAP tidbits, Wells & FAMC changes - 08/26/08 09:28 AM
Agents enjoy talking about the great the loans are that are being originated now, and "Why wouldn't investors want to buy them?" On the flip side, this is just what mortgage investors don't want to see: headline stories about how mortgage fraud is still going strong. http://money.cnn.com/2008/08/25/real_estate/soaring_mortgage_fraud/?postversion=2008082606
Here is more … (0 comments)
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banks: Money in the bank is a myth - 08/25/08 01:36 PM
I have spend the last two days talking with a good friend of mine who just bought a house. His job is to secure loans for people with low income and bad credit. He explained to me his theory of how the banks work.
I know this can't be right. God, … (2 comments)
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banks: An experienced take on short sales - 08/23/08 05:15 PM
Because of the legality and complexity of contract law, it is my opinion that short sale proponents need to get a grip on reality.
By now, I feel that I can safely assume that almost every real estate agent in this country has had at least one personal experience with a … (8 comments)
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banks: Independent Wealth - 08/21/08 01:05 PM
According to the US Census, after giving 40 years of their life to working.63% of people are financially dependent on their families or are trying to make ends meet from Social Security?29% of people didn't even make it.Only 4% of people have savings enough to support themselves3% of people are still … (0 comments)
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banks: 21st: the FDIC & Indy, mortgage stock volatility, news from Chase, First Fed, GMAC, Wells, and F&F - 08/21/08 09:43 AM
I don't make enough money, so how am I supposed to get a loan these days? Fortunately "entrepreneurs" never cease to amaze me: http://www.fakepaycheckstubs.com
Jerry Seinfeld makes enough money: he just signed on with Microsoft for $10 million for an advertising campaign.
Yesterday mortgage company stocks were all over … (0 comments)
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banks: Interest Rates Don't Matter!! - 08/20/08 03:09 PM
Yep that's right I say that with bold bravado and as a real estate investor myself. The general public and many in the real estate industry themselves have been trained to look at interest rates. All we ever see in the media is rates, rates, rates and more rates. Well there is … (1 comments)
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banks: Fixed Rate Mortgages Hold Steady Again While Arms Nudge Down - 08/20/08 01:27 AM
For the second week in a row 30 year mortgage rates held steady at 6.52. 15 year mortgages last week moved from 6.07 to 6.1. The week they returned to 6.07. So basically the fixed rates are holding steady. 5 Year Arms fell from 6.05 to 6.02 and 1 Year Arms … (1 comments)
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banks: Bank Loco Realty? - 08/19/08 04:14 PM
Banks in real estate? In a blog I read yesterday, the author was discussing that possibility and it got me thinking. Would that be so bad? How would it be different from Merrill Lynch or Prudential owning real estate companies?
Imagine with me.....you now work in real estate sales with Bank … (0 comments)
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banks: Greater Fredericksburg, VA - 08/19/08 07:25 AM
I hear all the time from other Realtors, 'there is no business.'
I have successfully acquired numerous clients that have had other Realtors work with them for months without closing the deal. What's the difference? Listening is a learned skill. It's also important when dealing in the low end of … (4 comments)
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banks: Do the Banks follow Any Rules when doing Short Sales - 08/16/08 11:33 PM
I had blogged a few days ago about a short sale that was going to the bank. Well unfortunately it did. It was not for a lack of trying, the listing agent and the escrow agent both did their part. It seems like the more I educate myself the faster … (8 comments)
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banks: How To Get More REO Listings - 08/16/08 01:34 PM
Get more Reo Listings
The most frequently asked questions among all agents today “How do I get REO Listings”. There are a few ways you can do this and results will depend on the agent’s tenacity and determination to really become a force in REO’s.
The first thing you need to … (4 comments)
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banks: 5 Fatal Mistakes of New REO Agents - 08/15/08 10:57 PM
5 fatal mistakes from new Reo Agents
The biggest mistakes are actually pretty common among new comers and even among the experienced. Read these and start implementing these right away. I learned the hard way over these years and so have many others. You don’t have to make the same … (21 comments)
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banks: Banks Offering Big Incentives To Attract Depositors - 08/15/08 01:26 PM
I just finished an article on the incentives banks are offering to attract new depositors called...
PNC Bank $100 New Customer Bonus May Spell Trouble
It's sounds good, but it begs the question, "Why do they need the capital?"....are they in trouble?
Click over and read...
PNC Bank $100 New Customer … (0 comments)
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banks: Foreclosures Increase By 55 Percent In A Year - 08/14/08 02:08 PM
RealtyTrac reports today that the number of foreclosures increased by 55 percent in July, as compared to one year earlier.Foreclosures rose by 8 percent from June 2008.Banks foreclose on properties when home owners fail to make mortgage payments.Which states have the most foreclosures? Nevada, California and Florida. Arizona holds fourth … (2 comments)
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banks: Negotiating Offers over the Phone - How effective is this? - 08/14/08 01:46 PM
I've been negotiating on a bank-owned property with the Listing Agent for over three weeks. It's been an increadibly frustrating time because the Listing Agent never returns any of my calls or emails - using the excuse that their office is "overwhlemed" with business.
Finally, I managed to get an answer from the Listing … (13 comments)
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banks: \\\\\ **** Short Sales Made Easy ****//// - 08/14/08 12:16 PM
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… (0 comments)
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banks: Wall St. Journal article about Alan Greenspan and the Housing Market turning the corner - 08/14/08 11:59 AM
Alan Greenspan is the former Fed. chairman and someone that knows more about United States economy than anyone in the world.
I tend to agree with him that 2009 will see the floor of this market and establish a baseline to absorb the extra homes and turn the corner. Also, it … (1 comments)
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banks: Short Sales made easy!!! - 08/14/08 05:48 AM
Lunch 'n' Learn - Short Sale / Mentorship Business Opportunity
When: Thursday, August 28, 11:00 AM - 2:00 PM Where: Land America Title Company8345 W Sunset Road 180Las Vegas, NV 89113
Attention Real Estate Professionals:You made great money in Real Estate in the past, but what are you doing now?SHORT SALE SEASON … (2 comments)
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banks: Short Sale 3rd party investor on title - watch for this! - 08/13/08 07:22 AM
PART !
Have you ever heard of the following? I wrote an offer on a short sale the Listing Agent (LA) comes back a month later ( we had a lot of communication) and says the bank says it is not enough, they need a higher offer. OK, we bring a … (0 comments)
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banks: The 11th Hour - 08/13/08 02:20 AM
Nothing like waiting until the last minute to close the deal. I have the Buyer in a short sale and after giving money and commission to the second we now have to wait for the first to sign off and extend the sale date. It is such a mind boggling process. … (2 comments)
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banks: Get some BPO's - 08/12/08 10:33 PM
I know that Evalsolutions was giving out a ton of BPO orders here in Las Vegas, NV last week. Get signed up and call for some orders.
This could be a great way to get your foot in the door.
I am not sure about other areas. Anybody notice a influx … (16 comments)
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banks: Donald Trump Says, "BUY, BUY, BUY!" On Good Morning America - 08/12/08 09:23 AM
I was watching the news this morning and Donald Trump was being interviewed on Good Morning America regarding the real estate market and what he advises for all of us that either want to buy or sell a home, facing foreclosure and how long he estimated the downturn in the market … (0 comments)
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banks: Agents: Watch your REO contracts’ fineprint - 08/11/08 06:07 PM
Both Paul Harmon and Phil Levin, managers at PMZ Real Estate, have stressed to agents the need to be aware of any fine print pitfalls the banks (property holders/owners) have been including into the purchase contracts of bankowned properties.
Please be sure to review your contracts and agreements that you have … (1 comments)
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banks: Mortgage Interest Rates Keep Steady - 08/11/08 04:25 AM
Mortgage interest rates were virtually unchanged this week. The 30 Year rate stayed even at 6.52. The 15 year rate moved up a little from 6.07 to 6.10 and the 5 year arm moved down from 6.07 to 6.05. The only rate that moved much was the one year are which … (2 comments)
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banks: Riding the Banks' Broncos - 08/10/08 12:02 PM
Well, the bottom may be here...at least in South Florida. REO's are priced in the same range that they were in 2002-2003, before the big spike in pricing. If you assume a doubling every ten years, we are below what 1998 prices doubled would be. We may go a bit lower, … (1 comments)
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banks: 5 Ways To Impress Your Asset Manager - 08/08/08 11:57 PM
5 Ways To Impress Your Asset Manager
1. Turnaround Time Complete your BPO orders as fast as possible.
Your first 10 -15 orders should be problem free and done as quickly as possible. You are often given 24- 36 hrs to complete an exterior bpo order. You should try to … (11 comments)
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banks: How to get REO Listings - 08/08/08 12:53 AM
How do you get in the Reo Market?
This is most frequently asked question amongst new comers and even agents who have been in the industry for years. Although Bank owned properties are nothing new, what is different in today’s market is the sheer amount of REO properties on the … (27 comments)
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banks: Does anybody need some Asset Managers to get more REO Listings? - 08/07/08 08:03 PM
ADVANCED COLLATERAL SOLUTIONS www.acslinks.com 877-227-1600
CLEAR CAPITAL www.clearcapital.com 530-550-2500
INTEGRATED ASSET SERVICES (IAS REO) www.iasreo.com 303-770-1976
MD WEBB & ASSOCIATES www.mdwebbinc.com 949-474-0599
REO.COM www.reo.com
TITANIUM SOLUTIONS www.titaniuminc.com 800-500-1733
Here are just a few asset managers that you can go to and look for REO Listings. Now some agents tell me … (8 comments)
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banks: REO - save your ass ets (pun intended) - 08/05/08 03:21 PM
Banks and lenders should revamp the REO business to save their ass ets (pun intended). REO Realtors are making peanuts for a lot of work, leading to properties being marketed very poorly, leading to very low prices, leading to banks not recouping their assets. Spread the wealth and raise your standards!!!! … (4 comments)
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banks: Protect Yourself from Failing Banks - 08/04/08 03:03 PM
Consumers are worrying as banks report billion-dollar losses from bad loans and in the wake of the seizure of Indy Mac Ban, the third largest in the U.S. history. There is good news though! You can eliminate the risk of losing money in a bank failure - by making sure non … (0 comments)
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banks: Why "Bank's Losses" & the "Mortgage Crisis" will not end anytime soon - 08/04/08 12:40 PM
This past weekend I wrote a Blog about "Bank owned properties - Trying to get an offer considered".
Several comments from other Realtors confirmed the frustrations I was experiencing in trying to close a deal on a bank owned property. So I decided to determine exactly why the Listing Agent for this … (22 comments)
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banks: Banks Too Slow To Act - Credit Crisis Extended Indefinitely - 08/04/08 12:29 PM
I just finished a post on my outside mortgage blog on the slow action of the Wall Street firms and the banks which will extending the current credit crisis called...
Meredith Whitney Says Banks Not Facing Mortgage Meltdown Reality
Ms Whitney a Wall Street analyst makes the case ...a case I've been … (0 comments)
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banks: ForexGen | Forex Fundamentals - 08/04/08 05:17 AM
Currencies are traded in the Forex market relative to other countries' currencies. This unique interaction results in currency being exchanged in pairs. For example, the Euro can be traded against the Dollar. Therefore you can buy a currency pair of EUR/USD (more on that later), which represents how many US … (2 comments)
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banks: Mortgage Interest Rates Nudge Down a Little - 08/04/08 04:01 AM
Before we talk about what happened with mortgage rates this week lets do a quick recap of what happened last week. Last week mortgage interest rates made a sudden jump over the previous week. For the entire month of June and July 30 year mortgage interest rates fluctuated from 6.09 to … (3 comments)
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banks: What are Fannie Mae and Freddie Mac, and what do they do? - 08/03/08 05:38 PM
Fannie Mae and Freddie Mac were both set up by the federal government (Fannie in 1938 and Freddie in 1970) to help Americans buy and keep the homes they purchased. Both Fannie and Freddie buy mortgages from banks. The mortgages they are buying are the ones the banks provide homeowners to purchase their homes. … (6 comments)
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banks: Bank owned Properties - Trying to get an offer considered - "Day-by-day" - 08/03/08 01:22 PM
A repeat client of mine wants to buy another property in Los Angeles. Since there are a number of Bank owned properties on the market we decided to specifically view these type of Listings.
After viewing several houses we finally found one, that although was in a grossly neglected condition with all … (24 comments)
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banks: Government Regulations Over Real Estate Lending Practices - 08/01/08 06:49 PM
At each real estate downturn, one believes that in many ways, banks should learn their lessons and stop with underwriting guidelines that are too relax. Yet, as things improve, they go right back to making loans they should not make, and seem to always come up with new products which in … (1 comments)
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banks: Introduction to Forex | Sigma Forex - 07/30/08 10:50 PM
The purpose of this overview is to introduce the forex market to you. As with many markets there are many derivative of the central market such as futures, options and forwards. In these tutorials we will be discussing the main market sometimes referred to as the Spot or Cash market.The … (0 comments)
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banks: Buying a Foreclosure - 07/29/08 10:39 PM
So with all the news and hype about foreclosures, what is really needed to purchase a foreclosure?
First, you need patience. with the huge surge of foreclosures in today's market, many asset management companies can not keep up. You may be ready to submit an offer and hear back the same … (4 comments)
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banks: Mortgage Rates Jump up to Highest Level Seen in 2008 - 07/29/08 04:10 AM
After falling for most of the month of July Mortgage interest rates jumped up. And not only did they move up they jumped to the highest levels we have seen in 2008. 30 Year rates jumped from 6.26 to 6.63 last week. To put that in perspective for the entire month … (0 comments)
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banks: PROTECT YOUR SAVINGS!!!! - 07/26/08 09:31 PM
The FDIC covers up to $100,000 per account. So, you can have one account in your name and one account in your name and your spouse's name and be insured up to $100,000 per account.
BUT, if you have over $100,000 in any one account, you are only insured up to … (0 comments)
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banks: Realtor - Don't frustrate yourself working Short Sales - Let us! - 07/25/08 10:13 AM
Good morning,
I just finished reading several blogs about the frustrating process of working short sales. I understand yor pain!
My company would like to take the nightmare negoiations off your plate. We are cash buyers. We have been working short sales for the past 3+ years and have sucessfully negoiated … (0 comments)
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banks: Foreclosures More Than Double - 07/25/08 09:28 AM
The head lines in Yahoo this morning read "Foreclosures More Than Double In 2007", Ouch! I'm a forever optimist which drives my husband nuts, but I truly don't see what the banks are trying to accomplish here. First of all I know several people who have tried to work with the … (6 comments)
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banks: Ask A Buyer of A Shortsale-Did You Lock Your Rate? - 07/24/08 09:15 PM
Some buyer's choose to lock in their rates ASAP while others take a gamble and wait. Since turn around time for 3rd party approval is taking longer than ever.
If you talk to a short sale specialist..they will tell you..right now they are overworked and really backed up..backed up … (12 comments)
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banks: Things To Come In the Banking Industry: Small Local Bank's "Statement of Condition" - 07/23/08 03:32 PM
In what may become a defense mechanism brought on by the IndyMac Bank failure and "run" lines reminicent of the stockmarket crash of 1929, local small bank Luther Burbank Savings of Northern California has gone on a reputation management campaign in local print media. The campaign has a simple message--we are … (2 comments)
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banks: Stop playing with Short sales - Lenders are stupid AGAIN!!! - 07/23/08 12:23 AM
I know we think we are helping people but agents are telling me that only 5-10% of short sales ever close. Too often, in an effort to save a house, an agent will work 3-4 months trying to get a lender to respond to a short sale. Then, if you could … (12 comments)
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banks: When you can't sell your house and you can no longer pay the mortgage - 07/22/08 10:25 AM
Sooo soo many of you out there are having a terrible time of it with your real estate purchases. You also may know of somebody who is in a very bad place and can't get their problems worked through.
Don't abandon the property! Don't declare bankruptcy. They are NOT necessarily the … (6 comments)
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banks: BPO Update - 07/22/08 09:40 AM
So I am doing BPO's and am a little aggravated at one of the services who are utilizing my knowledge. Its a cma by any other name and if the comps are not there, they are not there. We are seeing 37% decreases in prices in the last 6 months depending on … (3 comments)
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banks: Surely people wouldn’t do that? Yes they would, and don’t call me Shirley - 07/21/08 11:05 PM
Have you ever had a buyer sue you? I haven't and I'm glad for that, but more and more people are starting to sue when things don't go their way. In the last two weeks I've read of at least three cases where a person who bought a property in 2005 … (6 comments)
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banks: Slack Tide, Fundy Markets, & Investor Surge - 07/21/08 08:25 PM
The Earth rotates around the sun, the moon waxes and wanes, tides rise and fall-an intricate, yet simple relationship based on gravity. Real estate, if a less predictable system of variation, is much the same.While I don't know why the Bay of Fundy in Canada exhibits such a dramatic tidal range … (0 comments)
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banks: One more wholesale bank closing! - 07/21/08 05:10 PM
Well, for what it is worth, I got out of wholesale before I was forced out by my company closing. The company I was working for, Rainland Mortgage, made the appropriate changes to their underwriting guidelines long before they got a chance to get in trouble. I had a great opportunity … (1 comments)
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banks: Wachovia Closes Wholesale Lending - 07/21/08 05:00 PM
So another one bites the dust...or just for now! Today our company received an email from a division of Wachovia wholesale (Vertice) stating they will be shutting down the Wachovia wholesale lending side.
As of this afternoon our rep has not confirmed or denied this and is probably off have a … (0 comments)
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banks: July 21: all quiet in the mortgage news front, but Bank of America earnings help stocks (not bonds) - 07/21/08 09:21 AM
Usually I stop at Starbucks every morning, on the way from my bedroom to my bathroom. I was a little surprised that they put one of their outlets in my house last year, kicking my daughter out of her room, but I guess they figured that it made sense financially. As … (3 comments)
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banks: Countrywide takes *30 days* to review Shortsale after BPO is done - 07/21/08 02:47 AM
I was informed by a representative at Countrywide of this. I had a file where Countrywide sent an APPRAISER out to do the appraisal on the property. The appraisal report was completed. I called the bank to find out that after they had already received the report that it would … (20 comments)
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banks: 37 % Of US Banks To Fail - 07/20/08 11:25 PM
Historically 37% of US banks will fail and the FDIC insurance fund is not prepared to handle such a crisis. Expectations would be that the FDIC would begin to pay off the insured with non negotiable US treasuries that must be held for a period of time. Bottom Line is that … (1 comments)
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banks: Are Banks Sabotaging a Market Recovery? - 07/20/08 01:28 AM
This past week I've had numerous conversations with Real Estate Agents and other professionals that have left my mind spinning.
All of these conversations have dealt with banks not holding up their end of the process. Frustrations abound from both consumers and professionals when dealing with banks and loan service companies It … (51 comments)
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banks: Mortgage Rates Fall Again - 07/19/08 09:36 PM
For the second week in a row mortgage rates have fallen. For those that don't read my updates regularly I wanted to give a short background on what rates have been doing. From the end of April to the beginning of June 30 year mortgage rates hovered around 6 percent. Then … (1 comments)
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banks: What is a short sale? - 07/19/08 12:31 PM
From time to time, I will use my blog to offer up answers to questions that are typically found on an FAQ. This allows me to go into a little more detailed explanation as opposed to the abbreviated for space version. Today, I'll answer a frequent question Realtors are getting in … (0 comments)
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banks: Are your deposits in your bank account insured? Here's how to find out now..... - 07/18/08 11:06 PM
I have been reading that people are getting a little, how do we say it...yancy about some of the banks failing in the country...and in California. To find out if your bank is FDIC insured go to this link now and check it out. The FDIC has a great website full … (2 comments)
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banks: Short sales are a reasonable solution for many... - 07/17/08 08:54 PM
Honestly, no one really feels good about walking away from a debt. In SE Michigan many homeowners really didn't have much of a choice. Unfortunately, many waited too long and lost the opportunity to deed their property back to the bank or negotiate a short sale with their lender. I read … (0 comments)
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banks: OMG-SO much mis-information about short sales here! - 07/17/08 08:12 PM
Ok....I am new to ActiveRain, but I am not new to the industry. Just in the last few hours of surfing, it is plain to me that the vast, VAST majority of folks here, both Investors and Agents, have ABSOLUTELY NO CLUE about the facts surrounding short sales. Let me elucidate … (16 comments)
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banks: Wachovia going down!!! One after another... - 07/17/08 05:18 PM
TALK TO ME BEFORE BUYING IN SILICON VALLEY, THERE ARE THINGS YOU MUST KNOW!
READ THIS ARTICLE FROM NBC.COM/MONEY
Auction Rate Probe Hits Wachovia
Mo. Officials Say Raid Part Of Broad Investigation
http://www.wnbc.com/money/16912137/detail.html?rss=ny&psp=nationalnews
CHARLOTTE, N.C. -- Securities regulators from several U.S. states on Thursday raided the St. Louis headquarters of … (2 comments)
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banks: Negotiating with Loss Mitagators - 07/17/08 09:42 AM
Negotiating your short sale is not for the weak at heart. I hear a lot of new investors who spend months getting their short sale package in front of the decision maker and seconds backing up their offer when it is rejected. Here is a little secret for everyone. A … (0 comments)
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banks: Divorce and your home…What should you do? - 07/16/08 11:37 PM
Yesterday I got a call from a person who is friends with one of my clients. She had a question about her home and if one of the two people on the title could sign over the title to just one person.
I asked what the reason was for taking the … (6 comments)
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banks: IndyMac Impact! - 07/16/08 10:33 PM
First of all for them to be as big as they are I have not heard about them until this week. Are they the same as Wachovia and Bank of America? I'm here in the south and I have not seen one unless I just have not noticed. But correct me … (1 comments)
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banks: Phoenix Real Estate Blog: You Keep the House, I’ll Take the Mortgage - 07/16/08 07:12 PM
I feel a bit sheepish. I pride myself on knowing a lot about real estate – from the economics of the current market to how to stage a home. It is, after all, my job. But I always admit when I learn something new. And today, I did.
Reading an … (2 comments)
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banks: Shhh... Don't Tell The Banks. Learn How To Make Huge Profits Investing In Defaulted Mortgages For Pennies On The Dollar - 07/16/08 10:45 AM
It's a fact, the global banking system is on life support. Gone is the talk of the worst being over; current trends indicate big losses for banks and lenders with no end in sight. Wondering how you can capatilize on the current banking crisis?
Stop wondering, start learning the hard truth … (0 comments)
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banks: Real Estate - Banks - Stock Market - Economy - 07/16/08 05:26 AM
I have been in real estate now for 30 years. This is the first year full of changes, challenges but also opportunities. I knew about five (5) years ago that what weare now going through is bound to happen. I have gone to closings where Buyerwalked away from the closing table … (2 comments)
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banks: A guaranteed way to increase business. Understand the banking system after all it is your job - 07/15/08 09:09 PM
Why is the banking situation so important to commercial real estate? I have noticed a trend the last couple of weeks. Recently I have been hearing the same thing from commercial real estate agents and that is, where are the buyers? The fact is there are plenty of them … (2 comments)
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banks: 10 Ways to Get Your Short Sale Rejected - 07/15/08 05:53 PM
Will "Short sale" become the "it" phrase for 2008? Only time will tell.......
Here are some surefire ways to get your short sale rejected:
1. Have your agent or attorney write your hardship letter.
2. Don't fully complete your short sale package.
3. Don't be willing to relinquish assets.
4. Show … (6 comments)
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banks: Why some of the banks are in the mess that they are!! - 07/15/08 05:23 PM
The mortgage meltdown is still in full swing with banks scrambling and taking back homes and foreclosing on homes. I have recently had an experience that shows me some of the people at some of the banks just don't get it!
I was called to do BPO's like many Brokers/agents in … (0 comments)
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banks: Bank of America and Wachovia could be next - 07/15/08 02:06 PM
Are BofA, Wachovia readyto weather financial crisis?
Banks say they are prepared; financial stocks sink amid fear of failures
By Rick Rothacker
Investors pummeled bank stocks on Monday as new jitters about the health of the financial system erupted ahead of another round of miserable earnings reports.
The latest slide … (0 comments)
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banks: Re: " Now Hiring " Loan Off , Br Mngr's and Recruiters...!!!! Across The Nation - 07/14/08 11:51 AM
… (2 comments)
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banks: Be carefull of media headlines...sometimes misleading - 07/14/08 09:31 AM
Here is a great example of one such article...
http://www.iht.com/articles/2008/07/14/business/14bank.php
Now if you read the headline, it states simply "Analysts say more banks will fail". Seems pretty scary and get's your attention. But then read the article and you get a much more positive view of what's really going happening with … (3 comments)
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banks: Loan Officers - Southern California - 07/13/08 08:50 PM
REO Management - Southern California
We want to reward our business partners who provide us with REO opportunities.
In return:
•· Your staff will received referrals from us.
•· Your staff info will be place in our MLS listings.
•· Yourstaff@DesertAreaREO - forwarded to your staff
We will … (0 comments)
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banks: Our Local Lenders and their toll free numbers - 07/13/08 06:39 PM
Access Bank and Mortgage1-888-908-1994www.accessthebank.comAmSouth1-800-374-5791www.amsouth.comArmy Aviation Center Federal Credit Union1-800-448-4096www.aacfcu.comBank of America1-800-432-1000www.bankofamerica.comBankTrust1-800-689-7929www.banktrustonline.comColonial Bank1-877-502-2265www.colonialbank.comCompass Bank1-800-239-4357www.compassbank.comEglin Federal Credit Union1-800-367-6159www.eglinfcu.orgFirst City Bank1-888-244-5151www.firstcitybank.com
First National Bank of Florida1-800-277-0995www.fnbfl.com
First National Bank & Trust1-866-395-0051www.fnbt.comOkaloosa County Teachers' Credit Union850-863-7041www.okaloosafcu.orgPeoples' First Community Bank1-800-982-4940www.peoplesfirst.comPeoples' National Bank1-800-303-7010www.pnbon.comRegions1-800-REGIONSwww.regions.comSunTrust1-800-786-8787www.suntrust.comTrustMark1-800-844-2000www.trustmark.comTyndall Federal Credit Union1-877-747-4321www.tyndallfcu.orgVanguard Bank1-800-840-8440www.vanguardbank.comWachovia1-800-922-4684www.wachovia.com
… (0 comments)
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banks: Current Mortgage News - 07/13/08 06:01 PM
So what has been going on in the world of finance and mortgages? Certainly the biggest news was the fall of IndyMac. Last week we heard that IndyMac had stopped giving out new mortgage loans and was going to concentrate on simply servicing the existing loans in its portfolio. Apparently this … (2 comments)
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banks: What is the extra income you're making from BPOs? - 07/13/08 05:08 PM
Dear Agents,
I am making several thousand dollars each month doing BPOs. This in in addition to my full service brokerage work with listings and many active buyers. My list, which I have talked about before, is 173 active asset manager who assign BPOs and REOs. If you're intersted in … (0 comments)
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banks: For Loan Officers And Lenders - 07/12/08 04:03 PM
REO Management - Southern California
We want to reward our business partners who provide us with REO opportunities.
In return:
•· Your staff will received referrals from us.
•· Your staff info will be place in our MLS listings.
•· Yourstaff@DesertAreaREO - forwarded to your staff
We will … (0 comments)
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banks: These Times They are a-Changing... - 07/12/08 02:52 PM
How many of you have felt the crunch of the banks the past few months? I certainly have. And in a not so fun way.I have been working on a short sale for four months now and the first lender is Indy Mac. If you watch the stock market you can … (5 comments)
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banks: great website -- handy for avoiding those embarrassing non-funded loans at the closing table! - 07/11/08 05:36 PM
I just revisited this site, always good for a deep sigh on a Friday evening.
http://ml-implode.com/
For the uninitiated, this is a list of mortgage lenders who have bitten the dust since the very dawning of the current mortgage craziness. Although it seems to be rumor-based rather than fact, (I was … (4 comments)
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banks: The Scrooge and Marner Bank vs Whole Life Insurance... - 07/11/08 09:52 AM
Email [Edit] | Written by jdragonfly on
<script type="text/javascript"></script>
Jul-11-08 8:44am
From: themoneyforlifeblog.com
Consider this conversation with Mr. Silas Marner, the not-so-friendly banker at Scrooge & Marner Bank.
You speak:
"Good day Mr. Marner. Thanks for taking time to speak with me today about the purchase of an asset of real property. Mr. … (0 comments)
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banks: What are renters waiting for? - 07/10/08 10:56 PM
Renters should consider buying a home now.Interest rates are still low,and home prices have dropped in many markets.Recall the high interest rates in the late 1980's-early 1990's? They were around17-18%.
Now is the time to buy and start building equity!
… (3 comments)
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