| Foreclosure fix..... By Tami Luhby, CNNMoney.com senior writer Last Updated: February 9, 2009: 7:08 AM ET
NEW YORK (CNNMoney.com) -- This much we know -- the Obama administration wants to set aside between $50 billion and $100 billion to address the foreclosure crisis.
But how exactly officials plan to address this bear of a problem remains to be seen.
Treasury Secretary Timothy Geithner is expected to lay out plans for the $350 billion remaining in the financial industry bailout package on Tuesday.
Geithner was originally scheduled to unveil the program Monday, but the Treasury Department announced Sunday that it was pushing back the plan by a day to allow Geithner and others in the Obama administration to focus on getting the stimulus bill passed in Congress.
It is unclear if Geithner will unveil a specific plan for tackling foreclosures Tuesday. But the administration has said for weeks that it will devote more resources to helping homeowners than its predecessor. "We will implement smart, aggressive policies to reduce the number of preventable foreclosures by helping to reduce mortgage payments for economically stressed but responsible homeowners, while also reforming our bankruptcy laws and strengthening existing housing initiatives like Hope for Homeowners," wrote Larry Summers, director of Obama's National Economic Council, to congressional leaders last month. Finding a foreclosure fix is daunting, experts said. It eluded the Bush administration, which preferred to try to entice mortgage services to voluntarily modify loans without committing government funds. Click here for the rest of the story here
http://money.cnn.com/2009/02/06/news/economy/TARP_foreclosures/index.htm?postversion=2009020907
Surviving Short Sales....
Frustrated trying to get a short sale closed? We've got tips for making the transaction run more smoothly. Go here to read more. http://floridarealtor.imirus.com/Mpowered/imirus.jsp?volume=fr&issue=1&page=21
Remember that Colonial Guaranty & Title is here to help you close your Short Sale deals. We are happy to negotiate the short sales for you. Please feel free to contact either Maria@colonialtitle.us or Mey@colonialtitle.us for more information on our Short Sale services..
What's all the hype about Facebook, LinkedIn and Twitter......read on.....
Use Facebook and LinkedIn to reduce spam and build your referral network Using social media is one of the best ways to eliminate spam. Only people you approve can send you messages. Furthermore, when you meet a potential buyer or seller, invite them to join your LinkedIn network where they can see testimonials from past clients, access your list of preferred vendors, and contact other helpful resources in your community.
Social media -- the best way to reach your consumers?
According to keynoter Gary Vaynerchuk, the best way to succeed online today using social media is to "embrace your DNA." This means being honest about who you are and being transparent (i.e. being as open as possible about all aspects of the real estate transaction). Vaynerchuk also shared what he did to sell wines from his store. Here are his stats: billboards yielded 170 orders; direct mail 302 orders; radio 240 orders; Twitter 1,700 orders. The first three advertising media cost considerable amounts of money, while Twitter costs nothing. The key is to engage in the conversation and to avoid doing infomercials about you. For the rest of the story....go here: http://www.inman.com/buyers-sellers/columnists/berniceross/tech-tools-real-estate-survival
UPCOMING EVENTS AND WEBINARS
Quick Start Loan Modification Advisor Training 101
We are hosting an Educational Meeting on Mortgage Modifications. As a Mortgage and Real Estate Professional you have been bombarded by numerous requests and offers from Mortgage Modification Companies.This seminar will empower you to know the various options available to you and your clients so they can SAVE THEIR HOME !
By attending this seminar you will learn the following:
1) What is a Mortgage Modification
2) What are a client's options including Forbearance, Short Sale, Deed in Lieu of Foreclosure
3) What types of Mortgage Modification Companies are Available
4) What is the benefit of an Attorney Affiliated Modification Company
5) Income opportunities and How to Evaluate which compensation program is best for you
By being informed in Mortgage Modification you will be in a better position to garner client trust and thus increase your income from Mortgages through added referrals and a Trusted Advisor Relationship
Immediately following this seminar we will have a Client Educational Seminar that will provide your clients with the options they have available to them so they may make informed decisions about their home with You as their Trusted Advisor.
Stop losing clients because you can't affect a mortgage for them. Attend this seminar and bring an Associate with you.
Feel free to forward this invitation to your Financial Colleagues
log on to Thu, Feb 12, 2009 7:00 PM - 7:45 PM EST for this weeks webinar.
Quote of the week
Those who are fired with an enthusiastic idea and who allow it to take hold and dominate their thoughts find that new worlds open for them. As long as enthusiasm holds out, so will new opportunities. - Norman Vincent Peale
Warm regards,
Meyling Calero, VP of Public Relations
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