To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

• Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
• Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
• Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

‘Bulk REO Investing’ is the name of the new strategy, and it’s captured the attention of many well-heeled investors.

Take a just a minute to consider the basics of this highly profitable business.

To understand Bulk REO investing is to understand the foreclosure process.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. The lender directs the subsequent timing of the actual foreclosure proceedings. From that time through public auction is called ‘preforeclosure’.

When a defaulted property is placed up for auction, the foreclosure process is completed. If there are no buyers at the foreclosure auction, the lender regains title to the property. Such a property is then classified as an ‘REO’ (Real Estate Owned) by the lender.

Lenders usually try to unload their REO properties at close to retail price by listing their REO’s with a real estate broker. But as a consequence of the weak economy, lenders are frequently selling their REO properties far below their actual value. This happens because the buyer of the REO is required to purchase multiple REO’s in a single transaction.

These REO packages represent the potential to acquire huge amounts of equity for savvy real estate investors. REO packages are easiest to buy and sell with a well regarded source of financing in place. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. Additionally, one man is becoming very well known in the field of bulk REO investing, and his name is Salvatore Bushemi of Dandrew Partners, a hedge fund in New York.

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

• Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
• Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
• Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

The real estate investing strategy du jour is called ‘Bulk REO Investing‘ and is a real monster.

Foreclosures are at the heart of the Bulk REO business, so let’s consider the foreclosure process.

To understand investing in Bulk REO, you have to understand the foreclosure process.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. The official foreclosure proceedings begin subsequently, as directed by the lender. Between the formal beginning of the foreclosure process and the public auction is the ‘preforeclosure’ period.

When a defaulted property is placed up for auction, the foreclosure process is completed. If there are no buyers at the foreclosure auction, the lender regains title to the property. The property then receives the designation of being an ‘REO’ or the more formal name, ‘Real Estate Owned’.

REO properties are usually listed for sale with local real estate agents. However, REO properties are now frequently sold for far less than their ‘book value’. But the price of receiving such great pricing is the need to purchase multiple REO properties (a ‘package’) rather than individual properties.

The recession in the United States has yielded huge profits to real estate investors prepared to take advantage. Bulk REO Investors are most successful when they have a well-established source of funding for their REO packages. There are many sources of funding for these transasactions including: hard money and commercial financing, as well as non conventional sources such as hedge funds and private investors. Additionally, one man is becoming very well known in the field of bulk REO investing, and his name is Sal Buscemi of Dandrew Partners, a New-York based hedge fund.

The new opportunity is known as ‘Bulk REO Investing’ or ‘REO Package Investing’ and it’s a huge opportunity.

Foreclosures are at the heart of the Bulk REO business, so let’s consider the foreclosure process.

You can’t understand Bulk REO Investments without understanding the process of foreclosure.

Mortgage lenders faced with a non-paying home owner send a large volume of threats, warnings and documentation to the borrower who is late. Following a period of time determined by the lender, formal foreclosure proceedings begin. Between the formal beginning of the foreclosure process and the public auction is the ‘preforeclosure’ period.

To complete the foreclosure process, the property is auction to the public. If there are no buyers for the property at auction, the property is returned to the lender. The property then receives the designation of being an ‘REO’ or the more formal name, ‘Real Estate Owned’.

REO properties are usually listed for sale with local real estate agents. Yet with increasing frequency, REO properties are being sold for pennies or dimes on the dollar. Lenders are willing to do so in exchange for the buyer’s agreement to purchase a ‘package’ of REO’s rather than a single property.

The recession in the United States has yielded huge profits to real estate investors prepared to take advantage. The most successful Bulk REO Investors will have a well-respected source of funding for their transactions. Some sources of funding for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds. Additionally, one man is becoming very well known in the field of bulk REO investing, and his name is Salvatore Buscemi of Dandrew Capital Partners, a hedge fund in New York.

You will need to know a lot about real estate investing. Getting the most out of real estate investing education involves being familiar with basic RE info. You will get the most out of anything to do with short sales, bulk reo sales, virtual real estate and just improving real estate investor abilities by knowing some real estate investing basics. Here are three main real estate investing concepts that many experts do not even know:

1. Real estate investing education is a true investment that always has a positive yield. Every real estate deal has the potential to create thousands of dollars in potential wealth. Knowing about getting that wealth is the key in the end to your success. Learning as much as possible about real estate will increase your odds of success whenever you do a real estate deal. Small investments yield big results when you invest in learning and then implement what you learn.

2. Real estate investing success is possible in any economy. Many people think that you can only succeed in real estate when the economy is booming. In fact a bad economy is not a bad economy for real estate investors. You frequently can get properties at deep discounts. Additionally, you may find deals that would not exist in a booming economy. Real estate investing may also turn the tide for a poor economy. Short sales, bulk reo sales and virtual real estate all can thrive when the economy is not. You can save yourself from financial difficulty along with others by knowing how to do these deals.

3. You will not need lots of money to be a successful real estate investor. You can be a success in real estate investing no matter how much money you have on your own. There are lots of types of deals that you can perform with the money of other people. If you appear to be a solid investment you may be able to use a private lender’s money. The best way to be a good investment is to know as much as possible about real estate investing. This will help you represent yourself as a good investment to private lenders who do not know how to make money in real estate investing.

You can generate lots of wealth by real estate investing. You will be able to create an income no matter what the economy. You can create your own success using your knowledge of short sales, real estate investing, bulk reo sales and virtual real estate. Knowing real estate investing basics will help you succeed as a real estate investor.

Disocovery Bay Press -Published 08/28/2008

http://www.discoverybaypress.com/article.cfm?articleID=20268

Residents of the Live Where You Play community came out in force last weekend to help promote local businesses at the Lakeview Plaza in Discovery Bay. Under a hot August sun, the outdoor celebration was another perfect day in paradise, complete with wine, music and yes, cheeseburgers.

“This is nice,” said Juli Peterson of the event she attended with friends. “It’s relaxing and fun. It’s an easy way to spend a Sunday afternoon.”
The local event, sponsored by the merchants in the Lakeview Plaza, featured an array of catered goodies, home-baked treats and elegant appetizers. Live music was provided by local band Take 2, and the Discovery Bay Sports Bar and Steakhouse held free drawings every half hour. Prizes included the artwork of Mark Godard, internationally renowned for his silly, sly and whimsical paintings of martini glasses and animated olives.

Jan and Mike Todorovic, property owners of Lakeview Plaza in general and two of the plaza’s businesses in particular (The Spa & Salon at Discovery Bay and Todorovic Dentistry), felt that given the current economic times, a local business block party might be a nice way to bring the community together – and they were right.

“We had a great turnout, even better than we expected,” said Jan. “Everybody’s a little slow right now and we just wanted to help promote all these wonderful businesses. Discovery Bay has supported us tremendously and we just wanted to return the favor.”

The event also marked the grand re-opening for Marples & Associates Realtors, established over 30 years ago at what is now the Lakeview Plaza site. And although Marples & Associates operates offices throughout East County, this particular location has sentimental meaning.

“We are just so thrilled to be back home, and we are thrilled with the turnout,” said Cathy Marples. “We’ve been wanting to come back here forever, but there was just no room in the manger, so this is a wonderful homecoming. It (the party) is also a big boost for the community and a chance for us to say thank you to a community that has given us so much.”

Also new to the plaza is the Discovery Bay Visitors Center. Open just a few weeks, the center will house the Chamber of Commerce offices, Dove Publications and a conference room available to chamber members. Residents and visitors can purchase Discovery Bay memorabilia and clothing at the center, and artwork by local artists will also be on display and available for purchase.

“This is a great place for residents and businesses to get local information about their community,” said Chamber President Tim Mobley. “Discovery Bay has never had something like this before and we’re very excited. It will be a nice addition to the plaza and the community.”

For all the merchants at Lakeview Plaza, including the Oriental House and Pierce Chiropractic, the afternoon event was such a success that the next get-together is already in the works.

“We’re planning another community event for Christmas,” said Jan. “We’d like to have Santa on a fire truck, pictures, and all kinds of things. This was so much fun; we can’t wait for the next one.”