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Added by Anonymous, last edited by Anonymous on Jul 26, 2007
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- Homes lost to foreclosure highest in two decades
- Home.com lists over 500 vallejo homes in $100K to $400K bracket (7/26/07)
- Record high number of mortgage default notices 7696, vs. 2910 previous year. Last peak was Q4 1996
- 2nd quarter 2206 trustee deeds, compared to 258 in previous year.
- Increasing number of defaults resulting in foreclosure, 45%. USed to be just 12%
- Softening real estate market making it more difficult to escape by selling
- Dropped price means sale price may not cover mortgage
- "A combination of little or no appreciation, and in some markets, depreciation, and some pretty funky financing that has come back to haunt some borrowers. People used risky financing to stretch beyond their means. Now, in all likelihood, they're either experiencing payment shock because of a reset from a teaser rate, or they see (high payments) coming and are thwoing in the towel early, especially if they think (home) prices might go down more. Folks borrowed beyond their means in larger numbers because of hor common creative financing become.", Andrew LePage
, DataQuick Information Systems.
- Especially risky loans:
- higher cost subprime loans to people with poor credit
- subprime loans to people with no money for a downpayment
The Complete Guide to Locating, Negotiating, and Buying Real Estate Foreclosures: What Smart Investors Need to Know - Explained Simply
Frankie Orlando$24.95(USD)
In every hour of each day, savvy real estate investors are accumulating vast fortunes buying foreclosed homes at bank foreclosures, pre-foreclosures, and foreclosure auctions. Recent research indicates that more than 1 percent of ALL residential property in the United States today is already in; or facing foreclosure soon.. In April 2006 RealtyTracTM , the leading online marketplace for foreclosure properties, released its 2006 Q1 U.S. Foreclosure Market Report, which showed that 323,102 properties nationwide entered some stage of foreclosure in the first quarter of 2006, a 38 percent increase from the previous quarter and a 72 percent year-over-year increase from the first quarter of 2005. The nation s quarterly foreclosure rate of one new foreclosure for every 358 U.S. households was higher than in any quarter of last year. There is an estimated 1 million plus homes being foreclosed on. Armed with the right knowledge and tactics, opportunities for buying low-cost real estate foreclosures are plentiful. There are a lot of things you need to know before you get started. You need to understand how the foreclosure process works, what the borrower is going through, and the lenders role. You will be taught everything you need to know to locate and purchase real estate bargains from banks, public auctions, and other sources. Whether you are a first-time homeowner or an experienced property investor, this is a tremendous guide for buying pre-foreclosed homes in any market. You will learn the simple formula (developed from real-life experience) that can build massive wealth through real estate foreclosures. You will learn how to: negotiate with homeowners in distress, prepare contracts and paperwork, determine the true market value of the property, creative techniques to finance properties, learn how to flip the property, locate one-of-a-kind properties, negotiate with sellers, research, auctions, estimate repair costs, eliminate, obtain REO, use online resources, look up owners contact information, communicate with property owners, write ads, how to receive pre-foreclosure information, options, and more. This brand new book is the resource for novices and pros alike; it will guide you through every step of the process including finding properties, negotiating, and closing on your first deal. This new exhaustively researched book will arm you with hundreds of innovative ideas that you can put to use right away. This book gives you the proven strategies, innovative ideas, and case studies from experts to help you get more with less time and effort.
The Pre-Foreclosure Property Investor's Kit: How to Make M Buying Distressed Real Estate -- Before the Public Auction
Thomas Lucier$24.95(USD)
Pre-foreclosure real estate is one of the hottest investment opportunities on the market. The Pre-Foreclosure Property Investors Kit offers step-by-step instruction and no-nonsense advice on how to find great deals, estimate fair market value, negotiate with sellers, sell your property on your own, and win big in real estate. Youll learn how to get the best deals on foreclosure properties before they go to auction and utilize simple ready-made worksheets, checklists, forms, and agreements that make getting started easy. Even people of modest means can get into pre-foreclosure investing—all it takes is a little hard work, persistence, and the tools youll find in this handy guide.
Foreclosure Investing For Dummies (For Dummies (Business & Personal Finance))
Ralph R. Roberts$21.99(USD)
With the housing bubble of the past few years bursting and interest rates on the rise, there has been an upsurge in the number of foreclosures across the country, creating many opportunities for profit. But investing in real estate foreclosure[s?] can be a tough job, especially when a negative stigma is attached. How do you make money while preserving your morals and trust? Foreclosure Investing For Dummies shows you how to invest in foreclosures ethically without being accused of stealing homes from “little old ladies.” This step-by-step guide helps you thoroughly research property, find the best opportunities, purchase foreclosures, and avoid misleading distressed homeowners. This book doesn’t promise quick profits through minimal work, but it will provide you with invaluable information to become a successful investor, including: - Identifying opportunities and understanding risks
- Obtaining information, tools, support, and resources
- Locating properties prior to foreclosure
- Assisting homeowners through the foreclosure process
- Acquiring properties below market value prior to the auction
- Buying property at an auction, from lending institutions, and government agencies
- Repairing, renovating, and selling or leasing property
This book provides tips and strategies for refinancing your property and maximizing your profits. It also gives you advice on how to assist homeowners, have them work with you, and common mistakes you should avoid. It’s time to go out and make the most of foreclosure investing, and with Foreclosure Investing For Dummies by your side, your hard work and devotion will bring tons of success!
The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market
Frankie Orlando$21.95(USD)
The Pre-Foreclosure Real Estate Handbook explains everything you need to know to locate and purchase real estate bargains from banks, public auctions, and other sources. Whether you are a first-time homeowner or an experienced property investor, The Pre-Foreclosure Real Estate Handbook is a tremendous guide for buying pre-foreclosed homes in any market. You will learn the simple formula (developed from real-life experience) that can build massive wealth through real estate foreclosures. The Federal Reserve Bank indicates"....that foreclosed properties average 22% less than typical properties." Home foreclosures are at their highest peak in years; you can be one of the thousands earning six-figure incomes in this lucrative segment of the real estate marketplace. You can do this part-time or full-time. Learn how to buy directly from property owners whose mortgage loans are in default and stay away from courthouse-bidding feuds. With the help of this new book, property investing can be a very lucrative line of work. You will learn how to identify the most valuable properties and control every step of the procedure. We spent thousands of hours interviewing, e-mailing, and communicating with hundreds of today’s most successful real estate investors. If you are interested in learning hundreds of hints, tricks, and secrets on how to make money (or more money) investing in real estate foreclosures, then this book is for you! The Pre-Foreclosure Real Estate Handbook is the resource for novices and pros alike; it will guide you through every step of the process including finding properties, negotiating, and closing on your first deal. This new exhaustively researched book will arm you with hundreds of innovative ideas that you can put to use right away. This book gives you the proven strategies, innovative ideas, and case studies from experts to help you get more with less time and effort.
The Complete Guide to Locating, Negotiating, and Buying Real Estate Foreclosures: What Smart Investors Need to Know - Explained Simply
Frankie Orlando$24.95(USD)
In every hour of each day, savvy real estate investors are accumulating vast fortunes buying foreclosed homes at bank foreclosures, pre-foreclosures, and foreclosure auctions. Recent research indicates that more than 1 percent of ALL residential property in the United States today is already in; or facing foreclosure soon.. In April 2006 RealtyTracTM , the leading online marketplace for foreclosure properties, released its 2006 Q1 U.S. Foreclosure Market Report, which showed that 323,102 properties nationwide entered some stage of foreclosure in the first quarter of 2006, a 38 percent increase from the previous quarter and a 72 percent year-over-year increase from the first quarter of 2005. The nation s quarterly foreclosure rate of one new foreclosure for every 358 U.S. households was higher than in any quarter of last year. There is an estimated 1 million plus homes being foreclosed on. Armed with the right knowledge and tactics, opportunities for buying low-cost real estate foreclosures are plentiful. There are a lot of things you need to know before you get started. You need to understand how the foreclosure process works, what the borrower is going through, and the lenders role. You will be taught everything you need to know to locate and purchase real estate bargains from banks, public auctions, and other sources. Whether you are a first-time homeowner or an experienced property investor, this is a tremendous guide for buying pre-foreclosed homes in any market. You will learn the simple formula (developed from real-life experience) that can build massive wealth through real estate foreclosures. You will learn how to: negotiate with homeowners in distress, prepare contracts and paperwork, determine the true market value of the property, creative techniques to finance properties, learn how to flip the property, locate one-of-a-kind properties, negotiate with sellers, research, auctions, estimate repair costs, eliminate, obtain REO, use online resources, look up owners contact information, communicate with property owners, write ads, how to receive pre-foreclosure information, options, and more. This brand new book is the resource for novices and pros alike; it will guide you through every step of the process including finding properties, negotiating, and closing on your first deal. This new exhaustively researched book will arm you with hundreds of innovative ideas that you can put to use right away. This book gives you the proven strategies, innovative ideas, and case studies from experts to help you get more with less time and effort.
The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket
Stephen Elias$21.99(USD)
Facing foreclosure? Know your options! According to Harvard's Joint Center for Housing Studies, "the number of homeowners paying more than half their income on housing rocketed from 6.5 million in 2001 to 8.8 million in 2006... The number of homes entering foreclosure nearly doubled to 1.3 million in 2007 from about 660,000 in 2005." If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, The Foreclosure Survival Guide compassionately gives you the practical information you need, step by step. An essential tool for anyone at risk of foreclosure, The Foreclosure Survival Guide provides key information about: mortgages, including adjustable rate mortgages (ARMs) short sales deeds in lieu of foreclosure judicial and non-judicial foreclosure credit counseling liens, and using bankruptcy to deal with foreclosure.
The Foreclosure Survival Guide gathers all the information Attorney Stephen R. Elias has used to help hundreds of clients over 30 years of practicing law and shows you how to deal with foreclosure.
Like many hardworking people facing foreclosure in this rough economy, you deserve answers to your pressing questions. Thorough and easy to understand, The Foreclosure Survival Guide can help you stay in your home or walk away with money in your pocket.
Foreclosures & How to Buy Them
Gene Grossman$49.99(USD)
This 2-DVD set features William Mansfield, M.B.A., who has been teaching Real Estate Appraisal and Foreclosure investing for the past 20 years. In addition to teaching at numerous colleges, he also conducts complete education and qualification courses. The main purpose of this program is to give the viewer an introduction to a very lucrative career in Real Estate Investing, showing the basic principles involved in the purchase of properties that have already been foreclosed on and are now owned by the lenders. A major stumbling block for most people is knowing where to look for REOs [Real Estate Owned by the lender]. In this program you will learn how to find these bargains and how to go about investing in them, because as any investor realizes, dealing with lending institutions is a fine art, and this program will help you refine your skills in that procedure. Some of the material covered includes: Reasons to buy Distressed PropertiesStructuring favorable TermsCauses of ForeclosuresTiming of the PurchasePurchasing prior to the Trustee SaleBuying the Inferior LienThe Trustee s SalePitfalls to avoidAfter the Trustee s Sale (REO) Locating REOsRealtors specializing in REOsComputerized Recording Services, and much, much more. If you would also like to know how to properly evaluate property that you are interested in purchasing for either personal use or investment purposes, then we strongly suggest that you order another 2-DVD set also featuring Mr. Mansfield, entitled Introduction to Real Estate Appraisal. The Real Estate Appraisal DVD set is available from Amazon.com: search for ASIN: B000NVLGF4 Much of the material covered in this 2-DVD Foreclosure set is a portion of the basis for television hucksters infomercials on how to get rich in real estate, and how to buy property for no money down>. In this program, Mr. Mansfield shows the way to accomplish both of these goals in a legitimate, fair, and above-the-board fashion, while saving you the hundreds of dollars those infomercial programs are sold for.
American Foreclosures & Auctions
$47.40(USD)
Pre-foreclosures, bank-owned properties, government listings, REO's for New York, New Jersey, Connecticut, Florida & Pennsylvania. Articles about how to buy, renovate, sell, finance & profit from foreclosures. Easy to read format.
The Foreclosures.com Guide to Making Huge Profits Investing in Pre-Foreclosures Without Selling Your Soul
Alexis McGee$19.95(USD)
Make Money and Help Your Community at the Same Time "This book shows you the most powerful, practical system ever discovered to make money buying pre-foreclosures. If you follow its advice, it could make you rich." --Brian Tracy, bestselling author of The Psychology of Achievement "What great content and a fresh approach to the business of foreclosure investing. Alexis has it right--believe in yourself and what you do, be open and honest with others, and work hard. You'll make a great living and enjoy life along the way." --Barbara Corcoran, founder of the Corcoran Group and bestselling author of If You Don't Have Big Breasts, Put Ribbons on Your Pigtails: And Other Lessons I Learned from My Mom "This book shares with readers the right and moral way to invest in pre-foreclosures. Author Alexis McGee shows you that you can help homeowners and make a profit. This book is a must for all real estate investors, whether you are working on your first deal or your twentieth!" --Diane Kennedy, bestselling author of Loopholes of the Rich and coauthor of The Maui Millionaires "Want to make money the honest way? Read Alexis McGee's great ideas on real estate foreclosures, and you'll have acces to a wealth of know-how, experience, and years of success. You'll learn from people who have done it--not just ideas, but stuff that works in the real world." --Ron Willingham, author of The Inner Game of Selling and Integrity Selling for the 21st Century
From Bay Area Housing Bubble Wiki
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