The leading short sale and pre-foreclosure expert nation wide is Jeff Kaller. His students have really done well in our Michigan Market. If they do well in Michigan depress real estate market you know Jeff Kaller is doing a great job of teaching the short sale business. This is one of his articles for your reading. You can find great value from his workshops and his free reports and CD’s:
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Topic: State Foreclosures Only Produce More Questions
By: Jeff Kaller Republished by Ralph Mark Maupin
Nationally, much of the blame for the current housing downturn has been placed on easy access mortgages that targeted many consumers who are now unable to pay.
Although clearly the market is going down, the foreclosure issue is far more complicated to some. Industry insiders who make their living from mortgages say some statistics are multiply by a factor of 2 to the number of foreclosures recorded. A state level mortgage executive clams that federal government is “double dipping” the numbers by counting second mortgages, using an inconsistent sample population from year to year, and counting all the different phases of a foreclosure as new filings. He point is well taken, clearly complicating the issue.
However with more that 5 percent of American homeowners delinquent in their payments, a jump of three-quarters of a percentage point from last year, and the numbers are still staggering. But lately, several options have surfaced to aid the troubled homeowner. One choice of particular interest is the pre-foreclosure sale, it allows you to sell your home and pay off your mortgage before a foreclosure, thereby preventing damage to your credit rating.
Not your typical real estate investor, pre-foreclosure specialist Jeff Kaller, advises, “Home owners need to know what terms they have, pre-foreclosure investor want to assist in finding the best option for the plan…the majority of lenders don't want to foreclose.” This could be a clear indication for many homeowners facing a possible foreclosure to pull out their mortgage documents and double-check the terms.
Nationwide, foreclosures continue to be on a steady rise; 36 percent from July to August with an eight-month total of 244,000 foreclosed homes, an increase of 115 percent from last year. Currently, foreclosures are soaring in Maryland, and many of the loans that homeowners are defaulting on are interest-only loans where no principal is paid. For which the interest-only periods have recently ended. Many other borrowers took out adjustable-rate mortgages (ARMs) over the past two years, and now the low initial payment period of the ARMS has ended. In both cases, borrowers are finding themselves equally trapped with higher interest rates that translate into significantly increased monthly mortgage payments that could go even higher.
“Government officials are steadily trying to develop ways to assist strapped families, now that the housing boom the nation experienced over the past five years has declined,” said real estate investor and pre-foreclosure investor Jeff Kaller.
Showing posts with label jeff kaller short sale. Show all posts
Showing posts with label jeff kaller short sale. Show all posts
Tuesday, January 8, 2008
Record State Pre-foreclosures
The leading short sale and pre-foreclosure expert Nation wide is Jeff Kaller. His students have really done well in our Michigan Market. If they do well in Michigan depress real estate market you know Jeff Kaller is doing a great job of teaching the short sale business. This is one of his articles for your reading. You can find great value from his workshops and his free reports and CD’s:
http://www.ShortSaleBreakthrough.com Real Estate Discount Breakthrough - How Short Sales Can Make You Rich
http://www.FreeRealEstateMentoring.com What the Gurus Won't Tell You. Real Estate Investing - Free Report
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Record State Pre-foreclosures
By: Jeff Kaller Republished by Ralph Marcus Maupin (Mark)
“It's a difficult situation, many overextended homeowners not in default yet won't be able to refinance because of ever stringent credit requirements and will eventually lose their homes to foreclosure unless they are prepared with more options" stated Jeff Kaller Preforeclosure professional and investor.
Recognizing that preforeclosure filings indicate homeowners are in default on their mortgages and may include notice of default or notice of auction. National figures indicate that Florida recorded 111,236 year-to-date pre-foreclosures, second only to California's 132,101. Only Nevada had a higher rate of preforeclosures: 25.5 filings for every 1,000 households. Colorado, Illinois and New Jersey rounded out the top five states.
Preforeclosure filings do not necessarily result in homes being lost.
State Residence can make a difference
“With foreclosures spiking around the nation, homeowners should learn the foreclosure laws in their states, truly in this case what you don't know can actually harm you,” states Kaller, “In Alabama, late-paying homeowners can lose their properties to foreclosure in record time - as little as 30 days after a delinquency notice is published.” However, in the state of New York, the process can drag on for well more than a year.
States with long time frames include Florida at 180 days.
Kaller points out that labor force growth and business expansion should be weighed against the real estate market conditions.
Preforeclosures and Terms
One major point is whether the principle instrument securing the loan is a conventional mortgage or a "deed of trust." Kaller indicates that they are not the same even though everybody uses the term "mortgage" interchangeably. “Deeds of trust are the more common of the two, used in 34 states either mostly or exclusively,” says Kaller.
Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.
That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don't have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.
In states where deeds of trust are an option, lenders almost always choose them over mortgages, because they are "non-judicial" - and quick.
According to Jeff Kaller, Mr. PreForeclosure, provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures. He is a professional lecturer and author of "Preforeclosure and Short Sales" Home Study Course. Jeff holds several national conferences nation wide every year.
http://www.ShortSaleBreakthrough.com Real Estate Discount Breakthrough - How Short Sales Can Make You Rich
http://www.FreeRealEstateMentoring.com What the Gurus Won't Tell You. Real Estate Investing - Free Report
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Record State Pre-foreclosures
By: Jeff Kaller Republished by Ralph Marcus Maupin (Mark)
“It's a difficult situation, many overextended homeowners not in default yet won't be able to refinance because of ever stringent credit requirements and will eventually lose their homes to foreclosure unless they are prepared with more options" stated Jeff Kaller Preforeclosure professional and investor.
Recognizing that preforeclosure filings indicate homeowners are in default on their mortgages and may include notice of default or notice of auction. National figures indicate that Florida recorded 111,236 year-to-date pre-foreclosures, second only to California's 132,101. Only Nevada had a higher rate of preforeclosures: 25.5 filings for every 1,000 households. Colorado, Illinois and New Jersey rounded out the top five states.
Preforeclosure filings do not necessarily result in homes being lost.
State Residence can make a difference
“With foreclosures spiking around the nation, homeowners should learn the foreclosure laws in their states, truly in this case what you don't know can actually harm you,” states Kaller, “In Alabama, late-paying homeowners can lose their properties to foreclosure in record time - as little as 30 days after a delinquency notice is published.” However, in the state of New York, the process can drag on for well more than a year.
States with long time frames include Florida at 180 days.
Kaller points out that labor force growth and business expansion should be weighed against the real estate market conditions.
Preforeclosures and Terms
One major point is whether the principle instrument securing the loan is a conventional mortgage or a "deed of trust." Kaller indicates that they are not the same even though everybody uses the term "mortgage" interchangeably. “Deeds of trust are the more common of the two, used in 34 states either mostly or exclusively,” says Kaller.
Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.
That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don't have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.
In states where deeds of trust are an option, lenders almost always choose them over mortgages, because they are "non-judicial" - and quick.
According to Jeff Kaller, Mr. PreForeclosure, provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures. He is a professional lecturer and author of "Preforeclosure and Short Sales" Home Study Course. Jeff holds several national conferences nation wide every year.
Pre-foreclosures and Terms
The leading short sale and pre-foreclosure expert Nation wide is Jeff Kaller. His students have really done well in our Michigan Market. If they do well in Michigan depress real estate market you know Jeff Kaller is doing a great job of teaching the short sale business. This is one of his articles for your reading. You can find great value from his workshops and his free reports and CD’s:
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Preforeclosures and Terms
One major point is whether the principle instrument securing the loan is a conventional mortgage or a "deed of trust." Kaller indicates that they are not the same even though everybody uses the term "mortgage" interchangeably. “Deeds of trust are the more common of the two, used in 34 states either mostly or exclusively,” says Kaller.
Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.
That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don't have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.
In states where deeds of trust are an option, lenders almost always choose them over mortgages, because they are "non-judicial" - and quick.
According to Jeff Kaller, Mr. PreForeclosure, provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures. He is a professional lecturer and author of "Preforeclosure and Short Sales" Home Study Course. Jeff holds several national conferences nation wide every year.
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Preforeclosures and Terms
One major point is whether the principle instrument securing the loan is a conventional mortgage or a "deed of trust." Kaller indicates that they are not the same even though everybody uses the term "mortgage" interchangeably. “Deeds of trust are the more common of the two, used in 34 states either mostly or exclusively,” says Kaller.
Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.
That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don't have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.
In states where deeds of trust are an option, lenders almost always choose them over mortgages, because they are "non-judicial" - and quick.
According to Jeff Kaller, Mr. PreForeclosure, provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures. He is a professional lecturer and author of "Preforeclosure and Short Sales" Home Study Course. Jeff holds several national conferences nation wide every year.
Pre-foreclosure Training and Information Perspective
The leading short sale and pre-foreclosure expert Nation wide is Jeff Kaller. His students have really done well in our Michigan Market. If they do well in Michigan depress real estate market you know Jeff Kaller is doing a great job of teaching the short sale business. This is one of his articles for your reading. You can find great value from his workshops and his free reports and CD’s:
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Preforeclosure Training and Information Perspective
by: Jeff Kaller Republished by Ralph Mark Maupin
Trying to find a great deal in real estate, even if the market is attractive and competitive it only means bargains do exist. In comparison to most financial portfolios where there's simply too much risk, real estate is still the most attractive path.
Fundamentally the sure way to find a great real estate deal is to identify a motivated seller in the right market. No doubt a preforeclosure purchase can be a great way to save money on buying a home or investing in real estate.
There are numerous seminars and how-to books that promise to turn even the most raw naïve buyer into a high-powered real-estate investor through the magic of preforeclosed homes. The problem is that instant, no risk, no-strings attached wealth often turns out to be like most things that sound too good to be true…not true! If it were easy money, everyone would be getting rich off of preforeclosures.
Word to the wise, if you are not armed with the latest preforeclosure information and techniques, it is quite possible the investor will become overwhelmed and possibly drown in a sea of financial losses.
It’s important to understand that even in a distressed market like today, motivated sellers are aren’t going to magically appear and speak directly saying, “I need to sell my house to you and you only.”
With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings, it’s important for training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.
A trained investor will know the plus and minuses of private deal "buying equity," i.e. investors pay the owner a fee and then take over the existing debt and the home. This protects the homeowner's credit report from the black mark of foreclosure.
As well knowing that buying equity this way is difficult in a seller's market because the owner could just as easily sell the home and usually pocket a greater amount in appreciation than an investor would be willing to pay.
Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.
Editorial by Mr. Jeff Kaller. Jeff is Mr. PreForeclosure, he provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures.
Check out his workshops- Jeff is doing them all over the country http://www.JeffsWorkshop.com (LA in January)
Preforeclosure Training and Information Perspective
by: Jeff Kaller Republished by Ralph Mark Maupin
Trying to find a great deal in real estate, even if the market is attractive and competitive it only means bargains do exist. In comparison to most financial portfolios where there's simply too much risk, real estate is still the most attractive path.
Fundamentally the sure way to find a great real estate deal is to identify a motivated seller in the right market. No doubt a preforeclosure purchase can be a great way to save money on buying a home or investing in real estate.
There are numerous seminars and how-to books that promise to turn even the most raw naïve buyer into a high-powered real-estate investor through the magic of preforeclosed homes. The problem is that instant, no risk, no-strings attached wealth often turns out to be like most things that sound too good to be true…not true! If it were easy money, everyone would be getting rich off of preforeclosures.
Word to the wise, if you are not armed with the latest preforeclosure information and techniques, it is quite possible the investor will become overwhelmed and possibly drown in a sea of financial losses.
It’s important to understand that even in a distressed market like today, motivated sellers are aren’t going to magically appear and speak directly saying, “I need to sell my house to you and you only.”
With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings, it’s important for training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.
A trained investor will know the plus and minuses of private deal "buying equity," i.e. investors pay the owner a fee and then take over the existing debt and the home. This protects the homeowner's credit report from the black mark of foreclosure.
As well knowing that buying equity this way is difficult in a seller's market because the owner could just as easily sell the home and usually pocket a greater amount in appreciation than an investor would be willing to pay.
Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.
Editorial by Mr. Jeff Kaller. Jeff is Mr. PreForeclosure, he provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures.
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