My company Champion real Estate Solutions, LLC has been concentrating on short sales since 2005. We have saved so many families from foreclosure and have some of the most highly trained professionals working with us to process these transactions. My team is available to answer all questions for FREE. I often hold FREE short sale seminars to the public so we can speak one on one. Feel free to ask me when the next available seminar will take place and how you can attend!!
The top 6 reasons why a short sale is beneficial is:
·There is absolutely no cost associated with processing your short sale when you work with Champion Real Estate Solutions.
·The term “short sale” isn’t reflected on a credit report. It is usually stated: “settled for less than amount owed” – This usually results in a 50-100 point hit based on our past short sale customer feedback.
·You potentially can purchase a home in 24 month or less assuming you keep your credit up, have steady employment and down payment. We can also assist you with repairing your credit after the short sale process.
·You have a higher chance of a waiver of deficiency judgment in writing on the short sale approval letter when you work with Champion real Estate Solutions.
·A short sale transacts very similar to a traditional sale with a set closing date, usually 30 days from issued the approval letter.
· You eliminate a bad asset and move on with your life.
Understand all of your options today. Feel free to visit our website at www.CRESnow.com
Sunday, May 29, 2011
Tuesday, May 17, 2011
Changes in Processing Bank Foreclosed Homes Set to Cost Lenders a Lot
The processing of bank foreclosed homes in the U.S. is set for a major revamp. Recent reports revealed that banks have been given until the middle of June 2011 by regulators to develop plans that will polish their foreclosure procedures and mortgage servicing processes, while an additional two months were provided to implement these plans.
The demand for change was prompted by allegations that emerged last year that a big number of properties under residential and commercial foreclosure listings were processed using faulty documents and signed by robo-signers. The changes that were recently demanded by regulators will reportedly cost banks around $1.1 billion, a cost that is related to order of consent, while yearly expenses are estimated to be around $35 million.
Aside from instructions to iron out lenders' procedures, federal regulators, along with government-sponsored enterprises Freddie Mac and Fannie Mae, also presented plans that will promote successful loan modifications in the country. The move, analysts reported, is meant to control the continuous increase in the number of repossessed houses and foreclosed fixer upper properties for sale that are hammering the prices of residential properties all around the country. Under the loan modification plan, mortgage servicers will be required to approach homeowners earlier and more often than before following the initial delay in mortgage payment.
Moreover, mortgage firms will also be required to pay higher fees to servicers and satisfy certain benchmarks and timelines covering the processing of bank foreclosed homes and loan modification actions. Regulators have also demanded that banks provide a single contact point for borrowers to avoid getting them passed from one employee to another, a usual occurrence during the height of the foreclosure crisis which resulted in confusion and in most cases, outright foreclosures for a big number of homeowners.
Another change that is being required from banks is the addition of more employees who have enough knowledge when it comes to dealing with foreclosures and house repossessions for sale. According to some housing experts, most of the errors committed during the housing industry crisis were due to shortage of staff among banks and mortgage servicing firms. This shortage was also part of the reason why a lot of institutions opted to use robo-signers, analysts further added.
Regulators are hoping that the changes will make it easier for both banks and homeowners to deal with foreclosure issues. They also expect improved practices to result in fewer bank foreclosed homes and repossessed properties in all areas of the country.
The demand for change was prompted by allegations that emerged last year that a big number of properties under residential and commercial foreclosure listings were processed using faulty documents and signed by robo-signers. The changes that were recently demanded by regulators will reportedly cost banks around $1.1 billion, a cost that is related to order of consent, while yearly expenses are estimated to be around $35 million.
Aside from instructions to iron out lenders' procedures, federal regulators, along with government-sponsored enterprises Freddie Mac and Fannie Mae, also presented plans that will promote successful loan modifications in the country. The move, analysts reported, is meant to control the continuous increase in the number of repossessed houses and foreclosed fixer upper properties for sale that are hammering the prices of residential properties all around the country. Under the loan modification plan, mortgage servicers will be required to approach homeowners earlier and more often than before following the initial delay in mortgage payment.
Moreover, mortgage firms will also be required to pay higher fees to servicers and satisfy certain benchmarks and timelines covering the processing of bank foreclosed homes and loan modification actions. Regulators have also demanded that banks provide a single contact point for borrowers to avoid getting them passed from one employee to another, a usual occurrence during the height of the foreclosure crisis which resulted in confusion and in most cases, outright foreclosures for a big number of homeowners.
Another change that is being required from banks is the addition of more employees who have enough knowledge when it comes to dealing with foreclosures and house repossessions for sale. According to some housing experts, most of the errors committed during the housing industry crisis were due to shortage of staff among banks and mortgage servicing firms. This shortage was also part of the reason why a lot of institutions opted to use robo-signers, analysts further added.
Regulators are hoping that the changes will make it easier for both banks and homeowners to deal with foreclosure issues. They also expect improved practices to result in fewer bank foreclosed homes and repossessed properties in all areas of the country.
Monday, May 16, 2011
Low Mortgage Rates Fail to Spur Interest in Foreclosure Listings
Despite low mortgage rates, traditional homebuyers are still reluctant to purchase residences, even low-priced ones under foreclosure listings. Although cash buyers and investors are taking advantage of the low prices of distressed properties, housing sales still failed to gain traction, with sales of existing dwellings and housing starts continuing to decline.
Housing analysts are hoping that further drops in mortgage rates during the third week of March will encourage more buyers to purchase single and multi family foreclosures and non-foreclosed dwellings. Rates for fixed mortgages declined during the week, while the 15-year mortgage declined from 4.15% to 3.97% in the third week of March, the first time in a full quarter that rates for such loans have gone below 4%.
According to housing market analysts, buyers of new homes and repo houses for sale are set to benefit from low mortgage rates in the coming weeks. They stated that rates are influenced by U.S. Treasury bonds which have declined following the disaster in Japan. Meanwhile, the rate for 30-year fixed loans also plummeted, dropping to 4.76% from 4.88% the week before. In November of last year, fixed loan rates recorded their lowest levels at 4.17% in 40 years. Analysts are expecting rates to remain low as Treasury bonds continue to drop.
However, most housing industry analysts are reluctant to predict that the drop in mortgage rates will encourage more purchasing activities in the non-foreclosed home market and in foreclosure listings since it has failed to do so in the past. Even during times when rates are starting to go down and prices of homes are plummeting, buyers were reluctant to enter the market and new home builders continue to suffer from weak demand.
The home building market took the worst of the impact of tepid demand, with housing starts also suffering from competition posed by low-priced distressed property for sale and foreclosures. In February, house construction activities declined to their lowest points in nearly two years, while home building permits dropped to a 50-year low. Homebuilders have stated that the recent drop in mortgage rates is unlikely to improve demand for new homes.
They stated that high supplies of foreclosure listings and restrictions in the lending market are preventing people from purchasing new residential properties. In addition, builders believe that the massive declines in property values are scaring people off from home buying, while majority just simply do not have the means to purchase due to unemployment.
www.eforeclosuremagazine.com
Housing analysts are hoping that further drops in mortgage rates during the third week of March will encourage more buyers to purchase single and multi family foreclosures and non-foreclosed dwellings. Rates for fixed mortgages declined during the week, while the 15-year mortgage declined from 4.15% to 3.97% in the third week of March, the first time in a full quarter that rates for such loans have gone below 4%.
According to housing market analysts, buyers of new homes and repo houses for sale are set to benefit from low mortgage rates in the coming weeks. They stated that rates are influenced by U.S. Treasury bonds which have declined following the disaster in Japan. Meanwhile, the rate for 30-year fixed loans also plummeted, dropping to 4.76% from 4.88% the week before. In November of last year, fixed loan rates recorded their lowest levels at 4.17% in 40 years. Analysts are expecting rates to remain low as Treasury bonds continue to drop.
However, most housing industry analysts are reluctant to predict that the drop in mortgage rates will encourage more purchasing activities in the non-foreclosed home market and in foreclosure listings since it has failed to do so in the past. Even during times when rates are starting to go down and prices of homes are plummeting, buyers were reluctant to enter the market and new home builders continue to suffer from weak demand.
The home building market took the worst of the impact of tepid demand, with housing starts also suffering from competition posed by low-priced distressed property for sale and foreclosures. In February, house construction activities declined to their lowest points in nearly two years, while home building permits dropped to a 50-year low. Homebuilders have stated that the recent drop in mortgage rates is unlikely to improve demand for new homes.
They stated that high supplies of foreclosure listings and restrictions in the lending market are preventing people from purchasing new residential properties. In addition, builders believe that the massive declines in property values are scaring people off from home buying, while majority just simply do not have the means to purchase due to unemployment.
www.eforeclosuremagazine.com
Sunday, May 15, 2011
Owners of Foreclosure Homes For Sale Contributing to Economy
Foreclosure homes for sale in various areas of the U.S. do not automatically get sold and their owners are not immediately turned out of their homes. On average, American homeowners are said to stay in their distressed houses for 18 months before they get evicted or their homes get sold as foreclosures. Within those months, majority of them do not bother paying their mortgages.
Housing industry analysts stated that a single family home or a townhouse for sale takes a long time to get sold at the current condition of the real estate market, leaving owners free to occupy these houses without payment for more than a year. This, in itself, sounds negative, but some economists claimed that this is actually benefiting the overall economy of the country.
According to them, empty and unsold bank owned houses do not do much for the economy, but a distressed home with occupants does have its benefits. Homeowners who have decided to stop paying mortgages and are staying in their distressed homes are usually able to rebuild their finances and spend the money that they would have used to pay their mortgages on other things. Consequently, this improves consumer spending all over the U.S. Consumer spending, economists explain, accounts for around 70% of the nation's economy and is the most important factor behind an economic recovery.
Economists also reported that the amount of extra income generated by the owners of foreclosure homes for sale who have stopped paying their loans and are currently staying in their unsold houses can reach up to $50 billion within 2011. This amount, they asserted, can provide consumer spending with a boost equal to 50% of the savings that can be generated from the payroll withholding cuts formulated in the bipartisan tax plan.
With a lot of homeowners living in their distressed homes free of rent, analysts stated that consumer spending can increase by around 2.8% this year. Moreover, the strategy is allowing a lot of homeowners to fix their financial situations and rebuild their credit records, which could help them purchase another home in the future. Deciding not to pay mortgages sounds bad, but some economists admit that it does help some homeowners save money and pay their other debts.
Economists stated that some live-in owners of foreclosure homes for sale have stopped paying their mortgages simply because they are unable to do so. Some have lost jobs, while others are facing financial emergencies. For others, particularly those with negative equity, the decision was consciously made.
www.eforeclosuremagazine.com
Housing industry analysts stated that a single family home or a townhouse for sale takes a long time to get sold at the current condition of the real estate market, leaving owners free to occupy these houses without payment for more than a year. This, in itself, sounds negative, but some economists claimed that this is actually benefiting the overall economy of the country.
According to them, empty and unsold bank owned houses do not do much for the economy, but a distressed home with occupants does have its benefits. Homeowners who have decided to stop paying mortgages and are staying in their distressed homes are usually able to rebuild their finances and spend the money that they would have used to pay their mortgages on other things. Consequently, this improves consumer spending all over the U.S. Consumer spending, economists explain, accounts for around 70% of the nation's economy and is the most important factor behind an economic recovery.
Economists also reported that the amount of extra income generated by the owners of foreclosure homes for sale who have stopped paying their loans and are currently staying in their unsold houses can reach up to $50 billion within 2011. This amount, they asserted, can provide consumer spending with a boost equal to 50% of the savings that can be generated from the payroll withholding cuts formulated in the bipartisan tax plan.
With a lot of homeowners living in their distressed homes free of rent, analysts stated that consumer spending can increase by around 2.8% this year. Moreover, the strategy is allowing a lot of homeowners to fix their financial situations and rebuild their credit records, which could help them purchase another home in the future. Deciding not to pay mortgages sounds bad, but some economists admit that it does help some homeowners save money and pay their other debts.
Economists stated that some live-in owners of foreclosure homes for sale have stopped paying their mortgages simply because they are unable to do so. Some have lost jobs, while others are facing financial emergencies. For others, particularly those with negative equity, the decision was consciously made.
www.eforeclosuremagazine.com
Monday, May 2, 2011
The Most Valuable Question You Can Ask
As you begin to take action toward the fulfillment of your goals and dreams, you must realize that not every action will be perfect.
Not every action will produce the desired result. Not every action will work.
Making mistakes, getting it almost right, and experimenting to see what happens are all part of the process of eventually getting it right. Thomas Edison is reported to have tried over 2,000 different experiments that failed before he finally got the light bulb to work. He once told a reporter that, from his perspective, he had never failed at all. Inventing the light bulb was just a 2,000-step process. If you can adopt that attitude, then you can be free to take an action, notice what result you get, and then adjust your next actions based on the feedback you have received.
Ready, Fire, Aim!
Don't be afraid to just jump in and get started moving toward your goals. As long as you pay attention to the feedback you receive, you will make progress. Just getting into the game and starting allows you to correct and refine your actions.
Remember, the longest journey begins with the first step!!
Not every action will produce the desired result. Not every action will work.
Making mistakes, getting it almost right, and experimenting to see what happens are all part of the process of eventually getting it right. Thomas Edison is reported to have tried over 2,000 different experiments that failed before he finally got the light bulb to work. He once told a reporter that, from his perspective, he had never failed at all. Inventing the light bulb was just a 2,000-step process. If you can adopt that attitude, then you can be free to take an action, notice what result you get, and then adjust your next actions based on the feedback you have received.
Ready, Fire, Aim!
Don't be afraid to just jump in and get started moving toward your goals. As long as you pay attention to the feedback you receive, you will make progress. Just getting into the game and starting allows you to correct and refine your actions.
Remember, the longest journey begins with the first step!!
Sunday, May 1, 2011
Earn the Respect of Others
The Most Important Measure of Success
Being respected by others is very important to each of us. A survey done by the Gallup organization found that the most prominent living Americans rated the respect of others as the most important measure of success in life. They worked very hard to earn the respect of their parents, the respect of their spouses and children, the respect of their peers and colleagues, and the respect of mankind at large.
Why You Respect Yourself
It seems that we truly respect ourselves only when we feel that we are respected by others, and we will go to great lengths to earn and keep that respect. When we feel that someone respects us for who we are and what we have accomplished, we tend to be more open to that person's influence.
Two Things You Can Do
We can do two things to put ourselves in a position to be respected by others. The first is to develop our knowledge of our field. The more people perceive you know about your subject, the more they will respect you. The highest-paid people in almost every field are those who know more than the average people. They are recognized as experts, and they develop what is called "expert power." Because of their superior knowledge, they are looked up to and listened to, and they are much more capable of influencing others to act in a particular way than they would be if their knowledge level were just average.
Develop Your Expertise
Another way to put ourselves in a position of being respected by others is to develop your expertise. Expertise is closely tied to knowledge, but it is a little different. Expertise is the ability to do, the ability to perform well in your chosen field. Men and women with expertise are those who practice over and over in whatever they do until they become known far and wide as the very best in their field.
Action Exercises
First, study your field in detail. Dedicate at least one hour per day to reading, listening to audio programs, studying to become more and more knowledgeable about what you do.
Second, continually upgrade your knowledge and skills in your field. Identify your weakest important skill and go to work on that.Knowledge and know-how are the keys to the 21st century.
Being respected by others is very important to each of us. A survey done by the Gallup organization found that the most prominent living Americans rated the respect of others as the most important measure of success in life. They worked very hard to earn the respect of their parents, the respect of their spouses and children, the respect of their peers and colleagues, and the respect of mankind at large.
Why You Respect Yourself
It seems that we truly respect ourselves only when we feel that we are respected by others, and we will go to great lengths to earn and keep that respect. When we feel that someone respects us for who we are and what we have accomplished, we tend to be more open to that person's influence.
Two Things You Can Do
We can do two things to put ourselves in a position to be respected by others. The first is to develop our knowledge of our field. The more people perceive you know about your subject, the more they will respect you. The highest-paid people in almost every field are those who know more than the average people. They are recognized as experts, and they develop what is called "expert power." Because of their superior knowledge, they are looked up to and listened to, and they are much more capable of influencing others to act in a particular way than they would be if their knowledge level were just average.
Develop Your Expertise
Another way to put ourselves in a position of being respected by others is to develop your expertise. Expertise is closely tied to knowledge, but it is a little different. Expertise is the ability to do, the ability to perform well in your chosen field. Men and women with expertise are those who practice over and over in whatever they do until they become known far and wide as the very best in their field.
Action Exercises
First, study your field in detail. Dedicate at least one hour per day to reading, listening to audio programs, studying to become more and more knowledgeable about what you do.
Second, continually upgrade your knowledge and skills in your field. Identify your weakest important skill and go to work on that.Knowledge and know-how are the keys to the 21st century.
Weaknesses and Mistakes
Don't argue about other people's weaknesses and mistakes. Don't argue about your own weaknesses and mistakes. When you make a mistake remember that it is OK. the only acceptable behavior is to admit it, correct it, and learn from that mistake immediately.
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