Stop Home Foreclosure » house http://foreclosure.dnvmtg.com Tips, tactics, and advice that help STOP the FORECLOSURE process so you can keep your HOME Sun, 05 Feb 2012 06:38:49 +0000 en hourly 1 http://wordpress.org/?v=3.3 Using Strategic Foreclosure to Walk Away From Your House http://foreclosure.dnvmtg.com/foreclosure/using-strategic-foreclosure-to-walk-away-from-your-house.html http://foreclosure.dnvmtg.com/foreclosure/using-strategic-foreclosure-to-walk-away-from-your-house.html#comments Sun, 05 Feb 2012 06:38:49 +0000 foreclosure http://foreclosure.dnvmtg.com/?p=48523

Strategic foreclosure is a term that’s causing controversy amongst nearly everyone. The majority of people that attempt this method can afford to pay their loan installment, but instead choose to stop payments. Their goal is to force banks to foreclose on the property, modify the loan, or enter into a short sale agreement.

The tides of strategic foreclosure have begun to shift. Not so long ago, this tactic was primarily utilized by property owners and real estate investors with impeccable credit. They could afford to take a hit to credit scores and still qualify for financing if they wanted to buy another house.

Since voluntary default has received considerable media attention of late, a lot of homeowners with underwater mortgages have decided to give it a try. There are countless people that owe more on their loan than their property is worth.

The foreclosure crisis has affected millions of people. There’s little doubt it will take years for housing prices to return to where they were at the turn of the millennium. Foreclosure has wiped out entire communities or left a handful of residents that are now coping with declining property values and neighborhoods riddled with crime.

Many homeowners that stuck it out are now faced with difficult decisions. Do they continue to pay for a home that’s worth half its original value? Do they stay in their home if the community has become a ghost town or poses threats to their safety?

Banks typically don’t work with borrowers that aren’t experiencing financial hardship. Nor are they concerned that a borrower’s loss of home equity has resulted in an upside-down mortgage. The only way homeowners can hope to get help from their mortgage lender is to stop making payments.

As a real estate investor, strategic default is a topic often discussed at networking meetings. People have varying opinions about it. Some think it’s unethical to bail out on a mortgage note and people that can afford their payments need to hold up their end of the bargain. Others think it’s financially irresponsible to pay on property that isn’t worth the paper it’s written on.

Irrespective of your opinion, it’s wise to become informed about the process and weigh the pros and cons. Sometimes it’s best to walk away from your house. Other times it can result in catastrophic financial fallout that can take years to overcome.

People with mediocre credit scores will find it to be a painfully slow process to repair FICO scores after foreclosure. It could take 4 to 5 years before they could qualify for another mortgage. Another consideration is banks often issue deficiency judgments for unpaid loan balances. If property is repossessed and sold at auction for $50,000 less than the owed, the bank can come after homeowners for the difference.

Worse yet, deficiency judgments stay on credit reports for up to 10 years after the judgment if paid. It’s nearly impossible to qualify for financing of any kind when a large judgment is reflected on credit reports.

Depending on the circumstances, some banks might enter into a ‘Payment in Full’ agreement which means they accept the sale price to satisfy the outstanding loan. This is usually accomplished by obtaining a deed in lieu of foreclosure.

It’s strongly recommended to talk with a real estate lawyer to gather the facts about strategic foreclosure. This method could provide much needed mortgage relief, but it’s not without financial risk.

Learning about strategic foreclosure is necessary for making an informed decision. It’s vital to understand the consequences to determine if it’s a choice that will improve or worsen your financial situation. California real estate investor, Simon Volkov provides resources for foreclosure prevention programs and a robust real estate and personal finance library at www.SimonVolkov.com.

Article Source:http://EzineArticles.com/?expert

]]> http://foreclosure.dnvmtg.com/foreclosure/using-strategic-foreclosure-to-walk-away-from-your-house.html/feed 0 Tricky Property Laws – When Sales Cover the House, But Not the Shed http://foreclosure.dnvmtg.com/foreclosure/tricky-property-laws-when-sales-cover-the-house-but-not-the-shed.html http://foreclosure.dnvmtg.com/foreclosure/tricky-property-laws-when-sales-cover-the-house-but-not-the-shed.html#comments Tue, 31 Jan 2012 22:38:49 +0000 foreclosure http://foreclosure.dnvmtg.com/?p=48489 ByKarim El Sheikh

Foreclosure investing can be a canny way for you to buy property and make a tidy profit when reselling. It is also a great way to buy a home under market value. But keep in mind that although the property and home may be foreclosed, there may be external structures that are not covered by the foreclosure or owned by the lender.

Be Wary of Portable Property

When buying foreclosed property, it makes sense that you should own whatever is on it, but the law disagrees. Anything that can be easily removed from the property or not on a foundation is considered “portable.”

This means that mounted property, like a shed, can be easily removed and reclaimed by previous owners. Trailers also fall under this law. In many cases, the party claiming ownership can just easily come and get the object under question, but greedy lenders or owners may simply move to file a claim instead – and get some of your hard-earned money while you are at it!

Valuables and Personal Property

Previous owners may also leave valuable items that they may lay claim to in the future. Just because you find a classic Harley motorcycle in the garage does not mean it belongs to you. Selling it may get you in trouble in the future.

The best advice to follow is to store the items you find and get in touch with the lender or owner, as well as written notice. In many states you have the right to dispose of the item if the previous owner does not claim it within 30 days.

Tenants and Active Leases

Do your homework! Even foreclosed properties may have a tenant or active lease on them. In many cases, you may have to honor the lease, especially if the tenant has been paying rent. In this case, you may choose not to renew the lease when it expires.

Depending on state law, you can either renew the lease and assume the role of the landlord or provide them with an eviction notice once you assume control of the property. Keep in mind that some states are very friendly toward tenants that prevent eviction (especially since they have no legal obligation to pay the mortgage that holds the property in the first place). Others require longer eviction notices.

Inherited Problems

In the case of abandoned or foreclosed raw land or commercial properties, you need to carefully research what may have gone wrong. Be wary of deals that sound too good to be true. This can also be an issue with foreclosed homes or short sale properties.

A commercial property that has gone into foreclosure may have been the victim of a bad location or some other issue that made the property undesirable. The raw land you want may seem like a bargain, but the zoning issues it comes with can give you a big headache later on. Or it may be bordered by nationally protected forests or land that will give you problems later, especially if you want to develop.

Fixer Upper? Money Drainer

Before buying a foreclosed house labeled as a fixer upper, remember to inspect the property first. What may be advertised as a mild fixer upper can rapidly turn into a nightmare property and be a drain on present and future finances.

Foreclosure.com is the top online resource for finding foreclosure, pre-foreclosure, rent to own homes, short sales, and more. Find properties nationwide.

Article Source:http://EzineArticles.com/?expert

]]> http://foreclosure.dnvmtg.com/foreclosure/tricky-property-laws-when-sales-cover-the-house-but-not-the-shed.html/feed 0 Foreclosure Mortgages: Will Obama’s Bailout Save You? http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgages-will-obamas-bailout-save-you.html http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgages-will-obamas-bailout-save-you.html#comments Tue, 13 Oct 2009 06:18:42 +0000 foreclosure http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgages-will-obamas-bailout-save-you.html
Foreclosure Mortgages  Is it Something To Be Worried About?

This nation, the greatest nation on earth is facing a countrywide foreclosure melt down. Citizens from boarder to boarder and coast to coast are facing the threat of foreclosure, or going through foreclosure process.

That means that one out of 194 households was a part of the mortgage foreclosure process in the first quarter of 2008. About 1 million homes went into foreclosure in 2008.

Of all the countrywide foreclosure the hardest hit are those where the real estate bubble is bursting. (Did you hear that bang the other day? I thought it was the real estate bubble going boom.)

President Barack Obama wants to commit $275 billion to halt sky rocketing foreclosure mortgages. Financial Agency Credit Suisse is predicting countrywide foreclosure on 6.5 million loans within five years. If that is correct over 8 percent of American homes will be affected.

It may interest you to know there is some good news out there. Neither the banks or the government want to own your home. They do not want to be accused of setting up a nation of homeless bankrupt debtors because of home foreclosures. It is not the kind of market banks are looking to take over your home. How very kind of them.

In case you have not noticed, banks are in the money business, not the real estate business. Money for themselves, not you. Supposedly, when banks repo a home they almost always lose money. I don’t believe it, but that is topic for another time.

The basic foreclosure scenario is:

banks have to go through all the expense of foreclosing on the house – which takes months and in some states, YEARS -

the odds are good the bank will not be able to sell the house for the amount lent the homeowner

the house is going to be in need extensive repairs necessary, all of which costs the bank even more money (isn’t that a shame?)

then there will be the cost of evicting the home owner-YOU

The homeowner facing foreclosure has most likely tried for months and months to sell the house, slashing the price until it would only bring what is owing against it – and they STILL can not sell it. The banks are aware of this.

Banks do not like being landlords. They are not into property management. It is simply not good business to be stuck with a basket full of empty houses getting the windows and doors kicked in and all the plumbing and electrical being pulled out.

With a sour market, houses do not sell well at auction either. All this simply means good news for you and bad news for the banksters if you are in trouble with your home loan. The lending institutions are under more pressure than ever to find a way to keep you, the homeowner, in your home if at all possible.

All of this adds up to a thing called mortgage loss mitigation. A little bit of something is worth more than a lot of nothing. There are several ways of getting the bank to work with you if you can show a win-win situation. The bank is running a business and businesses are out to make a profit, even if it is a small one.

The bank would much rather keep getting a monthly mortgage check of some kind from you instead of no mortgage check – and these days, if you want to work with them, then they want to work with you, to make sure it happens.

We are going into an economic meltdown not known since the Great Depression. The government would like to avoid that at all costs and it is obvious by the amount if money they are throwing at it. Because of this many banks are developing new programs to assist struggling homeowners.

What this really means, you maybe able to stop or halt or avoid the mortgage foreclosure process all together.



By: Justin Case

About the Author:

If you unable to keep up with your current payments…or if you are late making a payment…or your loan is due to reset to a higher payment…or if you are in default…and Obama has not sent your mortgage payment yet…there maybe a some help available through mortgage loss mitigation.
Download the Foreclosure Survival Handbook now and stop the mortgage foreclosure process before it is too late. For even more valuable tips go to Stop Mortgage Foreclosure Precess now.



]]> http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgages-will-obamas-bailout-save-you.html/feed 0 Foreclosure Mortgage Lenders – are the Loans Worth It? http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgage-lenders-are-the-loans-worth-it.html http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgage-lenders-are-the-loans-worth-it.html#comments Tue, 13 Oct 2009 02:08:41 +0000 foreclosure http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgage-lenders-are-the-loans-worth-it.html
Would you like to make a profit from a house that has been foreclosed or forgotten? You may want to make money with houses that are or have been in foreclosure. Whether you are looking for a home or something you can renovate and sell, you could get a good deal by working with any of the foreclosure mortgage lenders. Your can make the choice that benefits you most.

A foreclosed home means there is a lender that needs to sell a property immediately. The accrual of taxes and the fact that a piece of property is not earning money means that a lender needs to sell. Time is most important to the lender when it comes to re-selling the foreclosed property.

As a buyer this is where you want to come in. The mortgage lender has four stages in the process of foreclosing. Knowing what to do at each stage is the key to making a successful turnover in the foreclosure process.

Pre-foreclosure is when the buyers are getting late on their payments and the lender begins to notify them that foreclosure is coming, at this point a lump sum of money is due. Some people just cannot make the payments and may be searching for a buyer during this first 90 days. Trying to save their credit score may be the motivation for a property owner at this point. Since timing is critical, it is important to work with an experienced lender that knows how to handle pre-foreclosure properties.

Once the 90 day mark has passed a property reaches stage 2 of the foreclosure process. The lender must process all the paperwork to auction the property by advertising a notice of Trustee sale.  During this time you would do your research to find out if the property is worth investing in or not. The date of the auction will be soon and there is usually plenty of willing buyers ready to steal the deal.

At the auction is stage three. Day 120 has arrived. The city or county courthouse steps or any type of public place is where the auction is held. You will need to have cash or a cashiers check ready to show the auctioneer that you have the ability to purchase the property. If no one bids on the house, the property is now owned by the lender.

This brings us to day 121, the bank bidder out bid the others in the best interest of the lender or no one was qualified to bid on the property. Some auctions no one even shows up to bid, so the property defaults to the lender. This is how foreclosures lists are built, with properties such as these, then the lists are sold or given to certain companies for free.

Foreclosure mortgage lenders know more about who will pay and who will not pay, based on their experience, you will only need to prove that you are a serious buyer with every intention of making good on the loan. Another thing to keep an eye out for, especially in areas that have had disasters or abandoned homes, is the distress sale lists. You dream house may be just a click away!



By: Adam Hefner

About the Author:

MortgageLoans-101.com is a website fully devoted to providing you with the best information for your mortgage loans needs. Whether your looking for more on foreclosure mortgage lenders or any other types of mortgage loans, we have you covered!



]]> http://foreclosure.dnvmtg.com/mortgage/foreclosure-mortgage-lenders-are-the-loans-worth-it.html/feed 0 Pre-Foreclosure Notice for Subprime Loans http://foreclosure.dnvmtg.com/finance/pre-foreclosure-notice-for-subprime-loans-2.html http://foreclosure.dnvmtg.com/finance/pre-foreclosure-notice-for-subprime-loans-2.html#comments Mon, 12 Oct 2009 14:35:23 +0000 foreclosure http://foreclosure.dnvmtg.com/finance/pre-foreclosure-notice-for-subprime-loans-2.html
The North Carolina legislature has enacted new legislation to help homeowners with subprime loans avoid foreclosure.  If a homeowner with a subprime loan defaults on his loan, the lender is now required to send to the homeowner a Pre-Foreclosure Notice at least 45 days prior to filing the Notice of Foreclosure Hearing.  The Pre-Foreclosure Notice must include an itemization of all past due amounts and other charges that need to be paid in order to bring the loan current as well as a statement that the homeowner may have options available other than foreclosure.  In addition, the Notice must also include contact information for the lender, the North Carolina Office of Commissioner of Banks and other HUD approved foreclosure counseling agencies.

The intent is to give homeowners who have fallen behind on their mortgage notice before their house is actually in foreclosure that they may be facing foreclosure in the near future and that there are options available that may allow them to save their home and/or their credit score.

Fore more information about Charlotte foreclosure and foreclosure alternatives, please visit:  http://zellersrudd.com/areas_of_practice/foreclosure_alternative.aspx

Dan Zellers and Scott Rudd- Founding Partners

Dan Zellers, originally from Ohio, earned his undergraduate degree in finance and management from Defiance College and his law degree from the University of Toledo College of Law. He is a member of the North Carolina Bar, South Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, foreclosure alternatives, landlord-tenant laws and estate planning.

Scott Rudd, a North Carolina native, earned his undergraduate degree in accounting from Campbell University and his law degree from the Norman Adrian Wiggins School of Law at Campbell University. He is a member of the North Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, business formation and litigation, foreclosure alternatives and work with homeowners’ associations.

Prior to founding Zellers Rudd PLLC, Dan Zellers and Scott Rudd worked together in the real estate finance group of some of the top international law firms in the nation. They represented large national banks and servicers in multi-million dollar commercial property transactions as well as multi-billion dollar commercial loan securitizations. These transactions included the negotiation of large servicing contracts as well as conducting large commercial loan transactions, loan assumptions, defeasances, parcel releases, and other consent matters on large commercial properties located all across the nation. In addition, their work prior to that has afforded them extensive experience in all aspects of residential real estate and residential real estate transactions including loan closings, foreclosure, landlord-tenant law, work with homeowners’ associations, default judgments and private transactions.

 



By: Charlotte Foreclosure Attorney – Zellers Rudd

About the Author:



]]> http://foreclosure.dnvmtg.com/finance/pre-foreclosure-notice-for-subprime-loans-2.html/feed 0 Bulk REO Investing – The Basics http://foreclosure.dnvmtg.com/foreclosure/bulk-reo-investing-the-basics.html http://foreclosure.dnvmtg.com/foreclosure/bulk-reo-investing-the-basics.html#comments Tue, 06 Oct 2009 21:08:09 +0000 Jerome Pennix by Jerome Pennix

The U.S. economy recession has resulted in the most foreclosures than ever experienced by any other generation of Americans. Yet as to be expected, this challenge has given rise to a great unexpected opportunity for savvy real estate investors.

Bulk REO Investing is the name of the new strategy, and its captured the attention of many well-heeled investors.

Lets take a moment to analyze the basics of this incredibly lucrative business. Understanding the notion of Bulk REOs requires understanding of the foreclosure process. When a home owner begins to miss payments on their mortgage, the lender begins to send late/overdue notices to the home owner. After a certain period, the lender will then formally begin foreclosure proceedings. Between the formal beginning of the foreclosure process and the public auction is the preforeclosure period.

The auction of the defaulted property signifies completion of the foreclosure process. Ownership of the house is returned to the lender if the property goes unsold at auction. The classification of REO (Real Estate Owned) is then attached to the foreclosed property.

Typically, mortgage companies list their REO properties with local real estate agents in desire of selling the property to a retail buyer who will spend full price. However, REO properties are now frequently sold for far below their book value. However, the acquisition of a package (or group) of REO houses is the trade-off for getting such great prices.

In the United States, the recession has yielded large returns to real estate investors looking to take advantage. One of the best ways to take advantage of Bulk REO Investing properties is to partner with a well-respected source of funding. Some funding sources for these deals are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds.

About the Author:
Whatever source of funding you use, you need to be able to find these great REO deals. REOGoldMiner.com is the place to look. At REOGoldMiner.com you can find REO deals, valuate the deals, and network with more investors just like you. Come to REOGoldMiner.com today and start finding your REO Gold!
]]> http://foreclosure.dnvmtg.com/foreclosure/bulk-reo-investing-the-basics.html/feed 0 Real Estate Investing Marketing: The 2 Secrets to Success http://foreclosure.dnvmtg.com/foreclosure/real-estate-investing-marketing-the-2-secrets-to-success.html http://foreclosure.dnvmtg.com/foreclosure/real-estate-investing-marketing-the-2-secrets-to-success.html#comments Tue, 06 Oct 2009 20:11:58 +0000 Nancy Geils by Nancy Geils

“We buy homes for cash” – Everyone has seen those small signs around neighborhoods. There’s a reason why there are so many: It’s because they work. Direct mail works, too.

But what if you want to let people know that you are a real estate investor and you’d like to buy an inexpensive home for cash? What should you do? Will your small “we buy homes for cash” sign be seen beside all the others?

Here are 2 secrets that you need to know in order to successfully market your real estate business:

REAL ESTATE INVESTING MARKETING SECRET #1: Be different!
When there are a dozen of those “we buy homes for cash” signs on the street corner, it’s hard to see the difference between one and another. But if you have yours in the window of a store or on the side of your car or on a free mug that you fill with candy and leave on the doorsteps of homes in your target neighborhood, you’re setting yourself apart. You’re being different. When you do that, you’re likely to be heard above the noise. It’s not that your message is any different, it’s just that you’re reaching your target market in a way that no one else is.

How else can you be successful in this way? If no one else is doing postcards, do a postcard. If no one else is hiring a clown to go door to door to hand out flyers, do that. Do whatever it takes to look different from your competitors.

REAL ESTATE INVESTING MARKETING SECRET #2: WIIFM?
When you are marketing your business to people, remember to always keep coming back to the fundamental acronym: WIIFM. That means “What’s in it for me?” and the “me” in this acronym is your audience. Don’t go to a homeowner who is down on his or her luck and say “I’d like to earn an income by selling your home to someone else. That’s focused on you! Instead, say “I’d like to help you get back on your financial feet.” Notice the difference?

It works the same for everyone else, too. When you approach a bank, remember that their primary concern is trying to recapture as much of that money as possible. Going through a foreclosure for them is extremely expensive so you can point out to them that you can make it cheaper by taking a property off their hands.

Remember these two important secrets and you’ll never miss out on potential business again!

About the Author:
Learn more about Real Estate Secrets. Stop by Nancy Geils’s site where you can find out all about Investing in real estate Sign Up for Free Training and see what it can do for you.

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]]> http://foreclosure.dnvmtg.com/foreclosure/real-estate-investing-marketing-the-2-secrets-to-success.html/feed 0 The Leftover Mess Of The Mortgage Lenders Of 2000 http://foreclosure.dnvmtg.com/foreclosure/the-leftover-mess-of-the-mortgage-lenders-of-2000.html http://foreclosure.dnvmtg.com/foreclosure/the-leftover-mess-of-the-mortgage-lenders-of-2000.html#comments Tue, 06 Oct 2009 18:25:29 +0000 Adam Whazzer by Adam Whazzer

Who is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Mods. I am not an lawyer nor am I here to provide or imply legal advice. The Loan Mod & Foreclosure Defense business has gotten a bad rap due to some rotten apples in the bunch but there are some of us who actually care about what we do.

It’s terrible that myself and others like me are subjected to the grossly inaccurate and fictitiously skewed perspectives that is constantly broad casted by the media without conscience to the patriotic men and women who sacrifice valuable time with their own children in an effort to restore stability to the family of another fellow American. The News as a whole has been quick to deliver stories that tell of bad lenders and what were once well known mortgage brokers now well on their way to becoming cell mates at local and federal correction institutions nationwide, stories of pathetic excuses for people taking advantage of the elderly, recently widowed and other members of the un-suspecting public.

But what about people like myself, It is amazing to see how many of us really do have an impeccable work ethic and a true passion for whatever role we may be asked to fulfill in the name of providing support for the commonly labeled homeowner at hardship.

Not only do we deal with the bad Info of the self serving and often relentless broadcasters but many of us are faced with a tragic and sometimes devastating dilemma, the mortal fact that we are exactly that, we are only human. In my personal experience it has become difficult at times to walk away from my job at the end of the day. Every day at the Law Firm it seems there is a more horrible or unjust case than the last, but still they seem to keep coming, almost as if there were no end in sight. I am writing this to acknowledge the truth behind the old saying “Never judge a man until you walk a mile in his shoes.” and to add that “working a day in his suit might not be a bad idea either”.

During the course of our own personal disasters, there is a lot to be said for the idea of taking a mental step back, and away from the situation or stepping outside one’s self to reflect for a moment that there are many variables in every equation and sometimes all is not what it seems. What most of you and many of the clients which I’ve made a diligent and valiant effort to assist have all most likely failed to consider, during the course of judging my intentions based on my statements is that I and the majority of our clients could actually be considered one and the same if you were to make a generalization or attempt to categorize me.

mortgage What do I mean by that? What I am making an effort to convey is that sometimes it seems like the worst enemy a borrower can have in the courtroom is not the Lender threatening to take back the home and not even the Law Firm representing them. The worst enemy that many Homeowners face while facing a possible or impending Foreclosure is the enemy they find staring back at them in the mirror each day. That enemy is Homeowners themselves, in my experience it seems to be the most common recurrence among cases I have seen during my time working in the Foreclosure Defense industry. Homeowners and in many cases family members alike are so concerned with getting cheated that in reality they wind up cheating themselves. In conclusion I will provide you with the missing material fact which should re-calibrate even the most skeptical perspectives. In approximately 30 days from today I will be going before a judge in an effort to save my own home from a pending foreclosure which I have fought long and hard to overcome. The truth is that was my original reason for getting involved in the industry, I did it to find a solution for the Foreclosure that has been looming like a dark shadow of unknown demise over my own life. You see I too share all the same concerns and all the same fears as so many other American Homeowners do in this country today. You wouldn’t believe how often people misconstrue the sincere empathy and sense of urgency which I often tend to convey. Many misunderstanding what they sense immediately defaulting to the negative which has been cultivated by our society today. This almost automatic defense system has left many Homeowners and their families almost completely defenseless and unable to protect their homes due to their inability or refusal to act. Yes I too may lose my own beautiful home, I may end up having to sacrifice my own sacred place. So in final it is with great sincerity that I offer this humble opinion. Never judge a book by it’s cover because it might cost you more than you would ever consider it to be worth.

About the Author:
The Whazzers have been mortgage experts for years” They have offered obama veterans mortgage help and help stop foreclosure to pre-foreclosure victims for years. If you are facing foreclosure, stop by for More Info and help On this Subject
]]> http://foreclosure.dnvmtg.com/foreclosure/the-leftover-mess-of-the-mortgage-lenders-of-2000.html/feed 0 The Foreclosure Hearing http://foreclosure.dnvmtg.com/law/the-foreclosure-hearing.html http://foreclosure.dnvmtg.com/law/the-foreclosure-hearing.html#comments Tue, 06 Oct 2009 15:31:26 +0000 foreclosure http://foreclosure.dnvmtg.com/law/the-foreclosure-hearing.html
After the Foreclosure Hearing in which the Clerk of Superior Court approves the sale of the property being foreclosed, the Trustee will hold a Foreclosure Sale at the county courthouse in which the property is located.  At the Foreclosure Sale the Trustee invites offers to buy the property from those in attendance and then accepts the highest bid.  The highest bidder is bound by his offer the moment it is accepted. 

After the Foreclosure Sale, there is a 10 day upset bid period in which another bidder may submit an upset bid that is higher than the reported sale price.  An upset bid must be at least 5% and a minimum of $750.00 higher than the previously reported sale price.  When an upset bid is made, the upset bid period starts over again for an additional 10 days.  This process continues until 10 days elapse without an upset bid, at which point the last bid on the property is accepted and the foreclosure can be completed.

If you are a homeowner going through the foreclosure process, you have the right to stop the foreclosure and save your home up to and until the upset bid period expires by either paying the lender the money owed or working out an alternative to foreclosure with the lender. 

For more information about Charlotte foreclosure and foreclosure alternatives, please visit:  http://zellersrudd.com/areas_of_practice/foreclosure_alternative.aspx

 Prior to founding Zellers Rudd PLLC, Dan Zellers and Scott Rudd worked together in the real estate finance group of some of the top international law firms in the nation. They represented large national banks and servicers in multi-million dollar commercial property transactions as well as multi-billion dollar commercial loan securitizations. These transactions included the negotiation of large servicing contracts as well as conducting large commercial loan transactions, loan assumptions, defeasances, parcel releases, and other consent matters on large commercial properties located all across the nation.



By: Charlotte Foreclosure Attorney – Zellers Rudd

About the Author:

Prior to founding Zellers Rudd PLLC, Dan Zellers and Scott Rudd worked together in the real estate finance group of some of the top international law firms in the nation. They represented large national banks and servicers in multi-million dollar commercial property transactions as well as multi-billion dollar commercial loan securitizations. These transactions included the negotiation of large servicing contracts as well as conducting large commercial loan transactions, loan assumptions, defeasances, parcel releases, and other consent matters on large commercial properties located all across the nation.



]]> http://foreclosure.dnvmtg.com/law/the-foreclosure-hearing.html/feed 0 Using Creative Techniqes in Real Estate Investing http://foreclosure.dnvmtg.com/short-sale/using-creative-techniqes-in-real-estate-investing.html http://foreclosure.dnvmtg.com/short-sale/using-creative-techniqes-in-real-estate-investing.html#comments Mon, 05 Oct 2009 21:53:05 +0000 Nancy Geils by Nancy Geils

While the rest of the economy is in shambles, and record numbers of foreclosures make headlines, real estate investors are earning thousands of dollars by buying and selling homes. How is it possible? It seems that real estate investors know a thing or two about systems, strategies, and styles of investing that the average homeowner does not. If you are a budding real estate investor and you’re looking to invest in homes but don’t know how, here are some of the basic strategies that investors are using.

WHOLESALING: This is where you buy a home inexpensively and then sell it to another real estate investor. You might not make as much as if you fixed up the home and sold it to a consumer but you can flip houses quickly this way.

REHABBING: This is the well-known (and well-televised) strategy of buying an inexpensive home and fixing it up to resell it to someone else. There is some time and money involved in the restoration process but you can dramatically increase the value of your investment. For more information go to: www.investingwiththestars.net/robertshemin.htm

LANDLORDING: A well-known strategy to buy property and then rent it out to someone else. Although there are headaches with this strategy, you get an ongoing stream of monthly income as well as the appreciated value of the property over the years. For more information go to www.investingwiththestars.net/mikebutler.htm

There are other types of real estate investing but these are among the most popular and lucrative and investors are making thousands on these methods right now. Be open to using these creative techniques especially with the situation we have with the banks today, these options give us all another way to “keep going” and investing while the market is now the ultimate time to buy at these low, low prices. For more information go to: www.investingwiththestars.net/season3. Nancy Geils is a Coach and Trainer in Real Estate Investing

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Want to find out more aboutlandlording, then visit Nancy Geils’s site on how to choose the best secrets and strategies with mike butler Don’t reprint this exact article. Instead, reprint a free unique content version of this same article.
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