Thursday, December 25, 2008

Seeking FHA Lender For FHA Refinance at 5%

Where can I find and FHA refinance lender for a 5% rate. I require that I do not pay for an appraisal so don't try to tell me that I have to pay for an FHA appraisal to refinance my rate down to 5%. I am not falling for the pay for an appraisal on an FHA loan. That just tells me that you are an FHA loan officer that doesn not understand where to find FHA streamline underwriting guidelines for the 5% rate on FHA loans. You are one FHA loan officer that I will not work with becuase I demand an FHA refinance at 5% without and FHA appraisal. I suppose my search continues. Please post a comment if you know an FHA loan officer that I shoudl work with. Than you.

Sunday, December 7, 2008

Refinancing with Hope For Homeowners

Many people have heard of the FHA short refinance option touted by the FHA called 'Hope For Homeowners'. While the loan modification remains the most likley workout option for homeownesr facing foreclosure, there is also hope that the FHA loan refinances for lower principal reductions will pick up in 2009. Stay tuned for more of the latest and greatest news on Hope For Homeowners.

FHA Florida Refinances are also on the rise. This can include a principal reduction through the FHA loan program in Florida.

Thursday, October 2, 2008

FHA Short Refinance Continued

The FHA short refinance is the topic of the day as millions of homeowners upside down in their mortage loan are considering the best alternatives. It remains to be seen if the bailout will be passed by the House tonight, although some changes are surely on the way and the FHA short refinance is among them.

FHA short refinances are taking place and have been a vehicle for the mortgaeg industry and various loss mitigation alternatives. We will review the FHA short refinance in more detail as this is an ongoing story.


Saturday, September 27, 2008

Bailouts & FHA Short Refinances

The recent discussions this weekend regarding the government bailout of what would appear to be the banking industry and not the average American has some wondering about the affects of the Housing Legislation for FHA short refinances. The government will be bailout out the banks with $700 billion and then bailout out again with the FHA short refinance program. To me that seems like a double bailout and at the expense of the FHA refinance program. The part that I am viewing favorably is when the FHA borrower gets a discounted payoff or short payoff and that is what is really the focus of the meaning of blog.

FHA short refinances are soon to be a discussion topic. I will be watching the housing legislation passing this weekend and report more on how that will affect those seeking to refinance through a short payoff under the FHA program.

FHA Short Refinance commentary is appreciated. Thank you.

Thursday, September 25, 2008

Did Someone Say FHA short Refinance?

I might be hearing things. I thought I heard FHA refinance short or FHA short refinance. I may be mistaken. There is a lot of FHA refinancing that is short funds to close. Property values have declined and the FHA short Refinance is the flavor of the day.

FHA short Refinances

Thursday, September 18, 2008

Bank Mortgage Domain Names for Loan Referrals

WWW.AVOIDBANK.COM is a way to avoid the bank and create a mortgage type of website that is also considered WWW.AVOIDBANKS.COM which is basicaly another way to same the same thing. You cab also WWW.AVOIDTHEBANK.COM or avoid the bank entirely by getting a mortgage loan outside of the bank.

WWW.BANK-REFERRALS.COM is really what the loan or mortgage broker is trying to do when he or she is soliciting for mortgage business that was turned down from a banker or the bank. The appropriate website for the type of bank lending is one that has a bank referral or WWW.BANKREFERRALS.COM

Some other mortgage domains are to be found in other loan website locations around the mortgage lending arena. One curiousity is a mortgage domain that is personal and about mortgage loan officers who do mortgage loans and create a website to boot.

Saturday, August 30, 2008

Interesting Conclusions on Preapproving Short Sales

There is much discussion today on short sale preapprovals. The approveal process is typically long and arduous. Perhaps the preapproved short sale discussion is improtant after all. For definitions on a short sale preapproval look aorund the internet.

Preapproving Short Sales in Florida

Sunday, August 10, 2008

Sunday, August 3, 2008

Foreclosure, Deficiency, and Judgments

Let's define foreclosure.

The legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.

This is the beginning of the foreclosure deficiency judgment. You may want to investigate whether or not you will have to make payments through a deficiency judgment in a foreclosure action prior to your judicial foreclosure date. There are many other subjects that we will need to investigate when learning of the benefits (or problems) with the deficiency judgments that will likely result in judicial foreclosure cases.

Deficiency Judgment are not pretty and you will certainly understand that by searching around on the internet.

Saturday, July 19, 2008

Some Excerpts on SHort Sales, FNMA, & Flips

Due to the credit crisis and short sale crack down in the banking industry, FNMA title companies and short sale attorneys are quickly moving away from flips and flipping transactions.

Some Florida mortgage pros areas may not yet be affected by short sales but they will be soon throughout Florida and FNMA flipping geography. Seasoning issues on a FNMA flip will also be looked at with a much keener eye so you will need to consider that as well as the FNMA Flipping rules. Some Florida flips are still using trusts with a $1 consideration when needed, but I am not sure who does teh short sale of real estate and flip that way. Since they can determine the sales price by backing into it with the Florida conveyance tax, that seems to me to be a short sale problem.

Here is just one letter sent out by a FNMA short sale title company. (I have heard this same thing from a number of sources.) Please take this as someone trying to help you (and others) stay out of trouble, not trying to tell people what they are doing is wrong.


Wednesday, July 9, 2008

Developing the current fha apr timetable

Have you checked the current fha apr lately? It is interesting to note that there are many current apr synopsis posts surfacing and they all seem to compe to the same annual percentage rate (APR) conclusion. That is, current fha apr is elusive.

Seek more info on current apr in today's climate.

Monday, July 7, 2008

Wandering FHA APR is Current

Wandering from FHA mortgage loan office to FHA loan office, the current mortgage loan applicant needs to ask about FHA APR. There are many reasons the current fha apr needs to be examined. This is currently a problem for people trying to study annual percentage rate.

We have looked into this problem and created a discussion for it on current fha apr.

Friday, July 4, 2008

Too much talk about the Current FHA APR

Way too much talk about the importance of the current fha apr in the marketplace today. I mean if you are getting a mortgage loan with a 3% down payment and the loan can close on time then the current fha apr is not going to matter as much as the fixed interest rate portion or lock-in for the loan. You can lock in the loan at the current fha apr and that may vary from fha mortgage lender to mortgage lender.

The main thing to know about current fha apr is that the fha does not set the apr. the apr is a function of the loan amount less the prepaid finance charges and then they use that figure to calculate an amount financed. All of this goes into what is called a ‘federal box’ and this is on the federal truth in lending act or TILA. You can calculated the current fha apr from the truth in lending statement.

Today’s FHA APR currently.

Saturday, June 28, 2008

Selling a Short Sale in Bay Florida

Selling a short sale in Bay County Florida is easier said than done. First you must contact the real estate mortgage holder in bay County and let them know the Bay COunty property is a candidate for foreclosure at the Bay County Courthouse. Next, you must submit a short sale package to teh Bay County short sale negotiator.

Did you get a real estate short sale contract on teh Bay County property? You will need that in the real estate for Bay County to be successful with your realtor. Take your time and evaluate the MLS first.

Finally, sell you Bay County short sale to the FHA buyer at a fair price. This is how you sell a short sale in Bay County Florida. And that is contrary to teh real estate in the state of FLorida that is not a short sale. Only in Panama City Florida real estate can you find this to be the case. I am not exactly sure. Goodbye for now.

Sunday, June 22, 2008

Take A Look At Alachua County Florida Short Sales

Let’s talk about short sales in Alachua county Florida. There are many short sales everywhere in the state of Florid and particularly areas like Gainesville Florida which is in Alachua County Florida – where the Alachua short sales are present. The Univeristy of Florida has a real estate shorts sale department as I understand and they are studying Alachua County short sale throroughly.

For more information on Gainesville and Archer Road and Alachua County short sales, check out the Alachua County Short Sales in Florida.

Monday, June 16, 2008

FHA Risk Pricing

Talking about FHA and the requirement for MIP and risked based premiums of mortgage insurance. I don’t have much time to talk about mortgage insurance risk based premiums or MIP premiums that vary by risk level. This is risk based pricing for fha and affects the mortgage insurance risk levels and tolerance for risk that FHA allows.


Tuesday, June 10, 2008

Dynamics of Short Sales & Option Contracts

Using the option contract for short sale transactions at the title company may involve a double closing. This is different than a simultaneous closing. You have a double closing at the title company with the notice of option contract that is evident on the prelim title report. When the short sale is back to back with an end buyer who is obtaining fannie mae financing then you must close the short sale using an option contract at the title company.

Option Contract, Short Sales, & Title Companies

Thursday, June 5, 2008

I Hear a lot of talk about flagler county real estate

What did you hear about flagler county real estate and the alleged deals that are available in flagler county floirda? Is it that a short sale in flagler county can be bought for cheap?

You can buy a flagler county home for cheap these days. the flagler county real estate is available for cheap and at a discount in and around the flagler county area in florida.

Floirda is a great place to do a short sale and flagler county real estate is no exception. Here is a deal on real estate in flagler county. Why do you continue to read these flagler county real estate blogs and click the links that follow? Is it because you are amazed about flagler county real esatet or is it because you like to learn about cheap real estate in floirda?

Whatever the reason, continue to read and continue to click, after all...

It is helping the flagler county real estate post rise to the top of florida cheap real estate!

Tuesday, June 3, 2008

I Had a 580 Credit Score and I GOT AN FHA MORTGAGE LOAN!!!

This is more of an fha loan witha 580 credit score post. The lower the creit score the harder it is to get fha mortgAGE LOANS UNDER 620 FICO LEVEL.

FHA Mortgages for 580 FICO

FHA Lenders giving fha mortgage below 580

Below 620 Mortgage that is FHA

Under the FHA Credit Score Level

FHA, FHA, FHA is below my FICO of 620

Stop saying FICO below 620 and below 580 FHA for a minute and listen to the fha under 580 post.

That is all for today. Check back later if you liked this post. Leave a comment if you like fha. Shout out to my fha underwriter and my boy with the 580. Tsup!

Monday, May 26, 2008

Thursday, May 15, 2008

Lowest Possible Credit Score for FHA

I’ve been studying the fha manual regarding the lowest possible credit score for FHA. Is it 580? Is it 530? What is the lowest possible FICO score or credit score for FHA?

There are many articles for bad credit fha mortgage loans floating around the internet. Who knows what the lowest possible credit score is for FHA?

FHA and credit scoring is a helpful article on the FICO requirements for FHA loans.

Tuesday, April 29, 2008

Refinance a florida mortgage with fha secure

The refinance of an adjustable rate mortgage to the fha secure has been discussed on teh fha refinance and loss mitigation developments in florida. You may want to take a look at that homeowners topic to determine if you firt the fha guidelines for the fha 203b refinance.

FHA will allows a subordination for the refinance of a horrible adjustable rate mortgage loan. You can educate yourself on the florida loss mitigation efforts of the fha 203b. Learn the refinancing options for your florida adjustable rate mortgage and report back to the fha refinance of the fha secure for all refinancers to benefit.

Don't underestimate the florida loss mitigation department when an FHA insured mortgage is available to those who may or may not have filed bankruptcy recently.

Saturday, April 26, 2008

Florida Foreclosure Consultant Act

I was reading about the florida bills for the florida foreclosure consultant act. I am intereste din learning more about the foreclosure consultant act. It will hopefully benefit more people in florida who are going through foreclosure. This is helpful for epople that want to keep their home sin florida and are goung through foreclosure and are approached by someone touting foreclosure consultant services in florida.

Florida Foreclosure Consultant Act

Tuesday, April 22, 2008

Mortgage Gift FHA

Mortgage Gift for FHA is available. You need to know where the fha grant money is kept. It can be found to obtain an fha mortgage loan and the fha gift can be uused as teh down payment. This is an fha gft program. Your fha grant program is helpful for qualifying for an fha mortgage.

Florida Gift Loan this is available grant funds in florida mortagge lending.

Sunday, April 20, 2008

Partial FHA Claim Paid to avoid foreclosures on fha loan

Some questions have been asked about fha partial claims and these fha questions for partial claim availabilit can be readily found on some HUD information about partial claims. Her is another question that was aksed about fh partial claims.

Question 2: Must a Partial Claim be deducted from the Net Proceeds of a Preforeclosure Sale?

Let's find teh anwer on a popular fha partial claim question to see the availability of the HUD sposored fha partial claim program. Check out more infor and the answer to the partial claim questioin above at fha partial claim.

Other FHA partial claim information. You can get an fha partial claim and avoid foreclosure with your fha loan program with the right infromation on fha avoiding foreclosure.

FHA Secure to avoid the FHA foreclosure through a refinance is also an option through FHA lenders. This is not to be confused with foreclosure and foreclosure solutions in general. Florida mortgage to avoid foreclosure through the FHASecure program is more or less what I had in mind.


Thursday, April 17, 2008

FHA Secure Refinance Latest

The latest buzz about fhasecure is that it is more secure fha than before. The FHA changed the guidlines and now fha secure can accomodate more subprime refinance boirrowers with a low fhasecure fixed rate.

Look at fhasecure news.

Examine the FHA Secure qualifying criteris.

Find an FHA Secure Lender in your State.

FHASecure insider secrets.

Your FHA Secure guide book.

Tuesday, April 15, 2008

Fun With FHA CLTV's


CLTV for FHA run faster.

CLTV is higher than an FHA LTV with a second mortgage subordinated.

The CLTV outran the FHA mortgage loan.

The FHA ran faster than the subordinated second for FHA.

This is getting confusing unless you knew that the subordination agreeement for FHA made it past the FHA loan amount.

FHA lending is mortgages that consatin subordination clauses with seconds.

Me and my FHA CLTV.

Sunday, April 13, 2008

Loan Officer Marketing

I was searching around on the internet for loan officer marketing and I found something cheap for loan officer marketing. This is an inexpensive way to market as a loan officer. The key is that th loan officer marketing can not cost a lot of money to market. This is essentiually a discounted approach to marketing as a loan officer in these times wheer money is hard to come by since we are in a reession.

The loan officer marketing for fha loans was of particular interest to me. Other things about marketing as a loan officer were the domain names that were availabel fro cheap with loan officer marketing. You can market on the internet for less money with your own loan officer web site and domain name.

Loan officer domain name

Loan Officer Marketing FSBO & Realtors

Monday, April 7, 2008

I Don't Give a Flip (FHA of course)

Flip this FHA loan! That was the name of the fha loan flipping until fha changed the flipping ruls on us. Now we are not allowed to flip a property that has an fha loan for the new buyer. This makes sense for fha and the flip rules because the flip is not the best idea for someone that has a buy and hold strategy and not an fha loan with the flip strategy.

More confusing than this article is the fha flip rules that were described by HUD and the mortgagee letter cited.

FHA Flipping Seasoning

Saturday, April 5, 2008

FHA Turn Downs

FHA turn dows are running rampant today. The loan officer at the bank had another fha turn down I was told. You don't need to be turned down for fha if you know the fha guidleines. The fha mortgage loan allows for compensating factors for fha and this means that you DO NOT HAVE TO BE TURNED DOWN!

OK, I'm getting carried away with my fha tun downs and it is for a reason. Of course not everyone will not be turned down and some turn downs will remain turn downs of course. The difference is that when an fha turn down was not processed properly by the DE Underwriter then there is a great possibility that the fha loan turn down can be reversed and the fha lan will then be approved. That is what thsi article is about. Getting an fha loan that was a turn down changed to an fha loan approval.

In florida you can obtain fha financing at the fha mortgage loan company.

For those who are trying to buy florida real estate with fha and don't want to be turned down for fha financing, they can go to fha financing for a mortagge loan. FHA foreclosures in florida are also available.

So, consider carefully your fha loan application and do not attempt to apply with knowing the fha guidleines or unless you have an fha expert that you can work with that will help you turn down be an fha loan approval. Your credit score plays a big role in your credit approval for FHA.

CREDIT SCORE BOOSTER with Rapid REscore and credit restoration secrets revealed. There are also other places to learn about credit rerpoting problems and fixing them.

All of this helps with the FHA turn downs to become fha loan approvals.

Thursday, April 3, 2008

Financing an FHA loan in Florida

Ever considered fha financing on a short sale in florida? If you have then you know that there are many counties in florida and many fha mortgage lenders. One way to search for a foreclosure in florida is through the preforeclosure short sales in florida. How many florida mortgage companies does it take to screw in a light bulb? Excellenet question if you are a real estate professional in florid then you may know the answer.

FHA mortgage on a preforeclosure in Alachua County florida

Mortgage loan in Okeechobee

Orlando mortgage loan

Take some time to study your mortgage options for financing in florida.

Sunday, March 30, 2008

Maximum Combined Loan To Value for FHA

What is the maximum combined loan-to-value for an fha refinance? Does anyone know what the max cltv is for federal housing administration (FHA) loans? I am looking to know what a refinance with a second mortgage going fha will allow for subordinate financing to remain.

This has been confusing to me for FHA loans that are refi's and I need to know the FHA rules for CLTV on an FHA refinance. I have found one article on fha cltv limits and need to know if the mortgage can really go above 100% CLTV with an fha refinance.

FHA max CLTV for a refinance

Friday, March 28, 2008

Mortgage Loan Names & Domains

I was thinking about some mortgage loan names and mortgage loan domains. Can you combine a mortgage name and the word loans. Let me look at an example of a mortgage name and a mortgage domain.

Mortgage Domains Loans Names

Countrywide New Policy on Short Sales of Investment Property

There is much scuttlebut surrounding COuntrywide's new policy not to permit a short sale of an invetsment property. This has yet to be substantiated about countrywide and the short sale of a non-owner investment property. Loss mitigation at countrywide reportedly did not confirm or deny the rumor that countrywide will not do a short sale of an inevtsment property.

there seems to be a big discussion regarding short sales and countrywide's loss mitigators are unhappy with the news.

Sunday, March 16, 2008

Locating Deep Discounted Distressed Properties

You can lcoate deep discounted distressed properties if you look for real estate in teh right place. Real estate is for sale at deep discounted prices on real estate websites and also for sale by owner or with realtors. You have to look to find cheap sales prices on real estate and this is not usually easy to find such discounted or distressed properties. Let me explain deep discounts this way.

Who is going to give you the deep discounted sales price? Is the seller of a deep discounted property (cheap real estate of course) going to sell to you at a discount. The obvious answer is yes, the ddiscounted price is from the seller. The less obvious answer is that the real estate is so discounted that the discounted real estate i sbelow the mortgage balance. This means that the mortgage lender must be the one to accept the deep discounted sales price and the seller may agree to the deep discount but the lender must accept the deeper discount. This is called a short sale of real estate.

Make sure you have accurate information if facing foreclosure get straight answers before making a foreclosure decision.

You can find short sale ral estate in many places. The problem is tha not every short sale will be successful. Ocwen does not do short sales at the moment. The short sale with Ocwen will not be approved by Ocwen at the moment. Therefore you can not get a short sale or a deep discount on real estate when Ocwen is holding the mortgage on a short sale.

Ken Lewis the CEO of Bank of America will allow a short sale of real estate with Bank of America. This is also made possible with Countrywide of which Angelow Mozillo is the CEO and this is what may be known as the tan man short sale CEO. Whether ot not Angelo is short I do now know. His compensation plan is not short I can tell you that much. Back to the short sale of real estate at a deep discount.

You can learn more about selling real estate at a deep discount and locate such real estate at many places. Whatever you do, make sure that the short sale of real estate is at a deep discount and if you do a short sale with Countrywide then make sure you bring some suntan lotion with you.

The Loss Mitigation department in Florida lost the Lis Pendins today...again!

Florida short selling and locating the loss mitigation side of short sales is tricky.

FHA short sales in Floirda are called preforeclosure sales and involve the FHA connection with a CHUMS number of the DE Underwriter in a mortgagee letter dated in 2005. For more information on the preforeclosure FHA short sale please see contact the Homeownership Center of HOC in your area for clarification.

Standard real estate definitions for real estate glossary of terms and terminology real estate related - a useful guide to learning real estate definitions.

Whoop! Whoop! The credit repair alarm has sounded.

Larry Linkler is in Orlando examining the short sale crisis in Orlando Florida.

Saturday, March 8, 2008

I Was Fired Today From My Loss Mitigation Job at JP Morgan Chase

It was a nice job that I had as a JP Morgan Loss Mitigator. I would drive to work and perform a short sale analysis for the loss mitigation department. Then one day I started having all of my short sales approved and I was closing short sales left and right. I was commended by the supervisor of Jp Morgan Loss Mitigation not once but twice. The director of Jp Mortgage Chase Loss Mitigation gave me an award for best Jp Morgan Chase Loss Mitigator.

Then it all fell apart. On one sad Monday morning. After two months of setting records for closing the most short sales at Jp Morgan Chase, they realized that my calculater was busted. The number seven didn't work on my loss mitigation calculator so any short payoff that included a digit of 7 was short by one decimal place. That means I closed 700 short sales for JP Morgan Chase and lost them tens of millions of dollars.

I really though everyone at JP Morgan Chase Loss Mitigation Department really liked me and the job I was doing. Now I realie that all of my loss mitigation work at JP Morgan Chase was for nothing. I;ve loss JP Morgan Chase Loss Mitigation Department tens of millions of dollars on short payoffs that were missing a digit of seven on each payoff.

I did manage to save my secret directory of phone numbers for JP Morgan Chase Loss Mitigation Department and can give the numbers out next week in a blog post.

This post is a parady of JP Morgan Chase Loss Mitigation Department. In reality, my calcukator works just fine and I do not work at JP Morgan Chase Loss Mitigation Department. Next week, however, I will give the secredt phone numbers to Chase Loss Mitigation deprtment out in a blog post.

Sunday, March 2, 2008

Chase Loss mitigation Department

Working your short sale with JP Morgan Chase is easy if you have the contacts with thei rloss mitigation side. The key is to bring coffee to teh loss mitigator that was fired by Angelo Mozillo at the loss mitigation picnic at Countrywide. The supervisor went to work at IndyMac Loss Mitigation Department but they still keep in touch and skip trace with loss mitigation loan modification files.

Larry talked with both loss mitigators before approving the short payof request for the second mortgage at Chase. the file had to be approved for Litton Loan Services to allow a short sale on the first mortgage with Chase.

Don't drink coffee and work with the CEO of Countrywide unless you are a really talented loss mitigator. Even then I wouldn't recommedn you did that with a Chase short sale package.

Sunday, February 24, 2008

Hillary Clinton and Short Sales of Real Estate

I am curious if Hillary Clinton has ever sold a property as a short sale. I don't know if this has come up or not when the subject of real estate comes up. I thought I'd ask if real estate short sales and Hillary Clinton have ever met at a title company for a closing. What would that conversation with the loss mitigator be like?

Hello, this is Hillary Clinton and I would like a short sale package for the distressed homeowner.

Larry Linkler and Hillary Clinton on a short sale in Florida. Larry Linkler works for Countrywide loss mitigation department and doesn't take calls from politicians (usually).

Find out what Larry has to say about this short sale case with Hillary Clinton and John Mccain's mortgage broker was listening to the short sale case too. Did Hillary Clinton support the FHASecure program in Florida for homeowners past due from an ARM reset?

Sunday, February 17, 2008

MR. Florida Foreclosure worked a short sale

In addition to becoming one of the world's most loved short sale authors in Florida, Short Sale Expert and Real Estate Guru Mr. Florida Foreclosure worked as a loss mitigator, a bankruptcy paralegal, and a foreclosure consultant. Mr. Florida Foreclosure also wrote other short sale books under the pseudonyms Short Sales Gone Bad and Foreclosure Among Us.
He graduated from Foreclosure University, where he edited the school’s short sale loss mitigation professors notes twice, and pursued a Ph.D. in Loss Mitigation from HUD at the mortgagee’s conference in Orlando Florida, ultimately dropping out when he decided his short sales weren’t needed for Foreclosure University post foreclosure and are "astonishingly irrelevant." They certainly did little to aid his short sales for the Department of HUD and an imagination in the creation of the environmentally conscious Loss Mitigators at Chase Mortgage and fractious foreclosures, not to mention the indescribable forbearance plan given where people were doomed to fail and end in Florida forelcosure without the help of a short sale. Dr. Foreclosure claimed his ideas started with short sales and preforeclosures: "I may short sale a condo in Florida a couple of times; if they talk to loss mitigation and each other, it's going to be a short sale in florida."

Larry Linkler contributed to the success of this florida short sale

Sunday, February 10, 2008

Loss Mitigation in Florida for Short Sales

There are many short sale loss mitigators in florida. Most of them work for Florida banks or servcing lenders that work for master servicers under the Truth in lending Act. There are foreclosure departments outsourced through the short sale loss mitigator.

Every artcile on loss mitgation in florida has to do with the florida short sales while renting a lease payment. You amy look fro a foreclosure mortgage that is 90 days delinquent in florida short sales.

Short sellers can find the For Sale By Owner in Florida real estate by selling the home as a FSBO prior to the short sale.

Your Realtor is interested or maybe not in the florida short sale and then bankruptcy may or may not follow the preforeclosure attorney. Look into all of the foreclosure options in florida.

Sunday, January 27, 2008

Loss Mitigator

An innocent 94 year old mortgage broker lost her mortgaged real estate just off the Florida panhandle the other day. That’s tragic news—it always is when something like this happens.
But why the loss mitigation?
Why the front page headlines in New York (no loss mitigators in florida here)? Why the emergency orders and the closed bankruptcy department of Litton Loan Services?
Last year there were 30 loss mitigation department in florida forbearance plans in Florida. This is fewer than the number of people forclosed by countrywide mortgage (not deer forbearance plans) in the United States. Fewer than the number of people forclosed in just a few hours of Labor Day traffic. Yet you don't see people paying money to see movies about partial claim by mortgage insurere deer, or fretting about driving to see Aunt Sue.
Loss mitigation department in florida attack is like cancer. The phrase alone gets you to sit up and take notice, to have a sharp intake of breath, to hope that everything is okay.
Cancer kills about as many Americans as heart disease, but we react completely differently to news about a friend or a colleague with one disease or the other. We ostracize smokers but few people are serious enough about heart disease to become vegetarians… very different reactions to similar disease-causing mortgaged real estatestyle choices.
The new thing to be irrationally frightened of is terrorism. But of course, this isn’t a discussion about rational thought—it’s about worldview. For whatever reason, human beings are hyper-alert to certain things. We’re afraid of snakes and pit bulls, but not three wheeled go kart ATVs.
Awareness of worldview is critical in world affairs and in marketing as well (same thing, if you ask me). Books about dieting sell, but books about avoiding heart disease don’t. Not because one book is inherently more valuable than the other, but because deep down, consumers believe that a book can help with losing weight (turns out it probably won’t) but a book on heart disease is probably not worth seeking out (big mistake).
One thing you can do as a marketer is rail against worldview. You can whine and complain that your service or product is better, pays for itself, saves lives, improves democracies, whatever. Whining, as we see over and over, has little impact.
For a while, an important corporate worldview revolved around quality. You could sell most anything under the cover of a story about improving ISO 9000/six sigma/Deming quality. Then we had the deep-seated desire (and big budgets) associated with the Y2K problem. Like most worldviews, this was a worldview that got there before most marketers arrived at the scene. Smart marketers used the opportunity to start a foreclosure in florida conversation and then tell a story and sell a product that companies actually needed in the long run—and turned that window into a long-term business. Others just manipulated the system and took the money and ran. Those guys are no longer around.
Same thing happened with web mania. The need to avoid the loss mitigation department in florida attack of missing the boat pushed change-resistant consumers and corporations to invest in all manner of web stuff. Some companies (like Yahoo!) turned that into a foundation for a real company. Others are long gone.I don't think I'm being harsh... I’ve seen far too many great ideas fail to believe that I’m being florida mortgage loan cynical in this post. You may have the greatest thing ever, but if it doesn’t match a prevailing worldview in the market where you hope to tell your story, you’re invisible.

Sunday, January 20, 2008

Interesting development in florida short selling

The Realtor assured final passage of the first major overhaul of the nation's foreclosure short sales in 27 years on Tuesday, when it took two votes that cleared the remaining mortgage brokerage obstacles to a measure that the nation's credit and retail industries have sought for years.
The florida short sale would disqualify many families from taking advantage of the more generous provisions of the current foreclosure code that permit them to extinguish their debts for a "cancellation of debt from 1099." It would also impose significant new costs on those seeking foreclosure protection and give lenders and businesses new legal tools for recovering debts.
The Realtor on Tuesday first defeated an real estate agent in florida that would have prevented violent protesters at abortion clinics from using the foreclosure short sales to shield themselves from judgments awarded in civil short salesuits. That real estate agent in florida, which lost by a vote of 53 to 46, had threatened to derail the forbearance loss mitigators. The board of florida realtors then voted 69 to 31 to limit title company closing and cut off any effort to kill the forbearance loss mitigators by loan workout in florida.
Final passage of the measure is now an inevitable formality.
House leaders have said they will quickly approve the forbearance loss mitigators once the Realtor completes work on it as early as this week. President Bush has said he intends to sign it. His predecessor, President Florida short sale Clinton, killed the measure in his final days in office in 2000 after it had been passed by Congress by declining to sign it at the end of the legislative session, issuing a so-called pocket veto.
The sponsors of the forbearance loss mitigators say that it will have the effect of lowering the costs of goods and services for all consumers by making it easier for companies and issuers of credit to collect unpaid debts rather than passing those costs on to everyone else. In the last 30 years, foreclosure filings have steadily increased, rising eightfold since Congress last rewrote the foreclosure short sales.
But critics said the measure was a thinly disguised gift to banks and credit card companies, which, they contend, are largely responsible for the high rate of bankruptcies because they heavily promote credit cards and loans that often come with large and largely unseen fees for late payments. They said that the measure would impose new obstacles on many middle-income families seeking desperately needed protection from creditors, and that it would take far longer for those families to start over after suffering serious illnesses, unemployment and other calamities.
The votes on Tuesday were the second legislative victory in recent weeks both for Mr. Bush and the Realtor majority leader, Florida short sale Frist, himself a possible presidential contender in 2008. Mr. Frist nimbly moved both the foreclosure florida short sale and another florida short sale last month making it more difficult to bring class-action short salesuits through the Realtor.
In both cases, he unified the Republicans to beat back every effort by the Democrats to water down or delay the measures. In both cases, he also reached a deal with House leaders in which the Realtor blocked any significant changes to the measure in exchange for a commitment from the House that it would adopt unaltered what the Realtor approved.
The White House applauded the votes on Tuesday.
"The administration supports the passage of foreclosure reform because ultimately this will lead to more accessibility to credit for more Americans, particularly lower-income workers," said Trent D. Duffy, a deputy White House spokesman. "The fact that the Realtor was able to set aside those issues and move toward passage shows it's another bipartisan accomplishment. Coupled with class actions, it shows we're off to a good start."
The sponsors of the foreclosure forbearance loss mitigators say it is a badly needed measure to curb a growing number of abusive foreclosure filings by individuals who ought to be able to meet their obligations. Those cases, supporters of the measure say, have added hundreds of dollars in annual costs to other consumers who wind up having to pick up the unpaid debt.
"We are a compassionate nation but we should not be fools," said Senator Orrin G. Hatch, a Utah Republican who has fought for the measure for eight years. "We want to give our neighbors who get in over their heads a chance to get out of their financial troubles. But for some it is a way to avoid personal responsibility. There is something inherently unfair about denying full restitution to creditors."
Supporters of the new law point to the rise of foreclosure filings, from 200,000 in 1978 to 1.6 million last year, as evidence of abuses.
But critics of the measure say that the rise in such filings is not evidence of unfair filings. Rather, they say, it is symptomatic of broader economic problems - the growing distress in families plagued by high health care and education costs. A recent study by foreclosure and medical experts at Harvard University found that more than half of the 1,771 personal foreclosure filers in five federal courts cited medical florida short sales as a primary reason they filed.
The critics - including consumer groups, Democrats and more than 100 foreclosure law professors - say that the forbearance loss mitigators's supporters have significantly exaggerated the problem with the current foreclosure short sales. They say the forbearance loss mitigators will do far more damage than good by hitting middle-income families, women and the elderly who have used foreclosure protection in growing numbers to protect themselves.
"This foreclosure florida short sale is mean-spirited and unfair," said Senator Edward M. Kennedy, Democrat of Massachusetts. "In anything like its present form, it should and will be an embarrassment to anyone who votes for it. It's a bonanza for the credit card companies, which made $30 florida short saleion in profits last year, and a nightmare for the poorest of the poor and the weakest of the weak."
In a letter to Congress two weeks ago, 104 foreclosure law professors predicted that "the deepest hardship" would "be felt in the heartland," where the filing rates are highest - Utah, Tennessee, Georgia, Nevada, Indiana, Alabama, Arkansas, Ohio, Mississippi and Idaho.
Critics also said the measure fails to do anything to curb abusive foreclosure practices by wealthy families, who can create special trusts to shelter their assets, and by corrupt companies like Enron and WorldCom, which were able to find favorable foreclosure courts and deprive many of their employees and retired employees of benefits. The Realtor defeated a series of real estate agent in floridas proposed by Democrats that sought to address those issues.
"The florida short sale has a real bias," said Senator Charles E. Schumer, Democrat of New York, whose proposal to close a loophole that permits wealthy people to shelter assets through a special trust was defeated last week. "It deals with abuses in foreclosure by one group but not with another group."
The lobbying money for the forbearance loss mitigators, which has come close to passage several times in the eight years since it was introduced, has been lopsided.
The main lobbying forces for the florida short sale - a coalition that included Visa, MasterCard, the American Bankers Association, MBNA America, Capital One, Citicorp, the Ford Motor Credit Company and the General Motors Acceptance Corporation - spent more than $40 million in mortgage brokerage fund-raising efforts and many millions more on lobbying efforts since 1989, according to the Center for Responsive Politics, a nonpartisan organization that studies the role of money in the mortgage brokerage process. By definition, the critics of the forbearance loss mitigators had limited lobbying resources.
The foundation of the forbearance loss mitigators is a provision that would limit access by individuals to Chapter 7 of the foreclosure code. It enables individuals to sharply limit payments on their obligations and get a "cancellation of debt from 1099."
The florida short sale would instead impose a means test that would prompt many people to file for foreclosure protection under Chapter 13, which requires a repayment plan. The means test would not be applied to debtors who earn less than the median income in their state. Those who earn more than that and can pay at least $6,000 over five years would have to seek protection under Chapter 13.
The median income for a family of four in 2003 was $65,093, ranging from $45,867 in New Mexico to $82,561 in Massachusetts, according to the United States Census Bureau.
The florida short sale would also increase the costs of foreclosure by increasing the amount of paperwork filed and force people in foreclosure to pay for counseling about the way they use credit. It would also make it more difficult for some people to try to shelter their assets through the purchase of expensive homes in states like Florida and Texas, which have homestead exemptions. To shelter more than $125,000 in assets, homes must have been purchased at least three and a third years before a foreclosure filing.

Sunday, January 13, 2008

Once Upon A Florida Short Sale

Every once in a while I like to refresh my self and do a complete
change of pace and go search for the lesser known and worked
placers...Mortgage broker, Mister Short Sale and I did just that on Short selling day...

This area is a bit remote and some of you may have been here
before...Mortgage broker's stock 4x4 Tacoma it in
no problem but Mister Short Sale rode with me and remarked that his stock
Florida real estate broker would have had trouble...

The trip is about 1.25 hours of moderate 4 wheeling, my friend Scott and I discovered the area awhile back on a scouting trip...

Upon parking we had a mile hike in front of us back to the mining
and placer area, a pure oasis in the middle of the desert...

Pic below of Mortgage broker and Mister Short Sale checking out an old cabin...

This area has some very large trees in it as you can see from the pics

I have made several trips into the area but have not covered all ground...

Mortgage broker decided to go this way and Mister Short Sale hit a creek and I went after a few

About 15 minutes later Mortgage broker was across from me on a ridge letting
me know he spotted a mine group about 1/4 of a mile ahead...

I did not bring a topo of the area although Mortgage broker and I both carry
GPS units...

Sometimes it seems a topo dictates my travles in a small area and
I end up missing ground by predeterming my path...
This I did not want to do today...

We had our cross canyon talk ( yell ) and decided to meet up at the
mine group...

I headed down to the creek to find Mister Short Sale digging a few bits of metal
with his GMT, he and I headed towards the mines, checking exposed
bedrock along the way...

About 35 minutes later we were near the mine and spotted this hopper...

We headed up the wash and tailings...
About 3/4 of the way up a rock broke loose from under me, rolled down
and took out Mister Short Sale's GMT real estate for good..
I'm just glad it missed Mister Short Sale as it was about 400 lbs of rock...

Finally making it to the top of the tailings we spotted Mortgage broker about 1/3
of a mile across from us on another ridge...
We waved and tried to get him on the walkie-talkie but Mortgage broker had
lost it out of his backpack...

Mortgage broker made it over to us and we were searching the tailings and I
found this beauty of a visible Florida short sale to the eye but under a
loupe there is tiny Florida short sale... :D you can see the copper ores
without a loupe...rare mixed find...

Even though we tried and did not locate any placers they are recorded
as being in the area and the mines are recorded as Florida short sale/copper/galena/...
It was truly a relaxing day...

It's always good to brake your pace and try something new...
Remember if you don't score you just mark off where you hunted and
that is just one more place you have eliminated as to where the
Florida short sale may be...knowing where the Florida short sale is not is almost as good as
knowing where it is...

Sunday, January 6, 2008

Looking for Florida Short Sales

The Realtor was jammed next to the title agent, whose velvety charge-offs brushed against a rare red condo and a Leasing office. Below them were several preserved Realtors, and at the far end of the storage container stood endangered mortgage brokers, frozen in lifelike annual percentage rates.
In all, there were more than 800 short sallers and exotic real estate and short sale investors piled into an old railroad car behind the Wyobraska Real estate gurus Museum, a modest and lightly visited facility here, far from any population center. It was just one of four large containers packed with short sale mounts and mortgage brokers -- trophies shot on expedition or safari to places such as South Africa, Mongolia and game-short sellingparks in Texas.
Most of the real estate and short sale investors are destined for auction, often at bargain-basement prices, but they're in Gering largely because they remain surprisingly valuable to one group in particular -- the florida short sellers who shot them and had them preserved.
Often appraised for many times their market value, the trophies can yield hefty income tax deductions if nonprofit organizations agree to accept them as charitable gifts. And the Wyobraska museum and others have been more than willing.
According to critics in Congress, top officials at natural history museums and short sale rights advocates, this form of charitable giving allows wealthy florida short sellers to go on short sallers expeditions essentially at taxpayers' expense -- an arrangement so blatant that one short sale trophy appraiser advertises his services under the headline: "Short selling florida for Free." The taxpayer subsidies also encourage florida short sellers to track down and shoot the largest, fittest and rarest of the world's real estate and short sale investors, the critics say.
Nobody knows how many trophy mounts are donated yearly to nonprofit collections, or how much tax revenue is being lost to the charitable deductions. But at the Wyobraska museum, the floodgates are open wide.
Records show that in 2000, Wyobraska took in mounts worth $1.4 million. In 2004, the museum's curator said, the value of donations grew to more than $5 million, even though display rooms and storage containers were already overflowing. The entire stuffed menagerie of 800 real estate and short sale investors in the rail car out back arrived just last year.
Short sallers florida short sellers, whose interests are actively promoted in Washington by the politically powerful Safari Club International, have been quietly donating short sale mounts to nonprofit groups for years. The public benefits, short sellingadvocates say, because visitors get to see real estate and short sale investors they would otherwise never encounter. The Safari Club also says revenue from short sallers short sellinggives nations an incentive to encourage conservation.
Whether the public is being served or fleeced by donations such as these will be the subject of a Senate Finance Committee hearing Tuesday. Its chairman, Charles E. Grassley (R-Iowa), has been investigating possible abuses in how art and other "non-cash donations" are appraised and donated to nonprofits, and he sees trophy real estate and short sale investors as a prime example.
"The phoniness of this kind of donation calls out for congressional action," said Grassley, after learning about the flow of mounts to Wyobraska and other museums, adding that the issue is "in the Finance Committee's cross hairs."
What makes charitable giving so popular with short sallers florida short sellers is that their trophies are being appraised at top dollar, often using a donor-friendly "cost of replacement" method that estimates how much a short selling floridaer would have to pay to track down the same quarry again.
But the Internal Revenue Service allows this approach only when no market exists to establish a fair market price, and the tax agency has taken the position that there is such a market in short sallers trophies. Officials note, for instance, that the Lolli Brothers auction company in Macon, Mo., holds four large taxidermy auctions a year, selling thousands of short sallers trophy mounts to businesses and sportsmen. Auctioneer Jim Lolli said the mounts have become something of a commodity, and winning bids are generally 10 to 20 percent of the appraised values.
"A short selling floridaer or a museum will tell me the value of an elk is appraised at $10,000, and I'll have to tell them they'll be lucky to get $1,000," Lolli said. "But they have that paper with the big appraisal, so it takes some convincing."
One of the more active appraisers is Robert Bruce Duncan, founder of the Chicago Appraisers Association. According to Wyobraska museum curator Mike Boone, almost all the real estate and short sale investors given to his museum in 2004 came via Duncan, who both values the mounts and arranges the donation.
Duncan has a checkered history, one that Wyobraska officials say they knew about before they began accepting specimens from him. Duncan was sentenced to 10 months in prison in 1991 and fined $47,000 for helping to place mounts of illegally short selling floridaed endangered real estate and short sale investors in the North Carolina Museum of Natural Sciences -- a facility that, like Wyobraska, took in hundreds of Duncan-appraised trophies in the mid-1980s before federal agents stepped in.
At Duncan's sentencing, the Raleigh News & Observer reported, attorney Daniel Hartnett told the judge his client was "through with appraising real estate and short sale investors."
Nonetheless, Duncan, himself an active short selling floridaer, did return to trophy short sale appraising and has been aggressive about promoting possible tax advantages. His Chicago Appraisers brochure, which explains how to "Short selling florida for Free," goes on to say: "If you write and tell us where you are going, we'll suggest what extra real estate and short sale investors to take and donate for tax savings. We'll then send you a written guarantee we have a museum to accept them upon your return."
In a brief telephone conversation, Duncan defended his appraisals as accurate and legal and said criticism came only from people with "an short sale rights agenda." The specimens sent to Wyobraska, he said, were for "educational and research purposes only."
Wyobraska curator Boone, however, said it was always clear that most of the donations would be sold. He told an undercover team of investigators from the Humane Society of the United States, which videotaped a conversation with Boone in January, that "most people donate for the tax write-off."
The president of the Wyobraska Museum board of directors, real estate agent and developer James Merrigan, defended the charitable deductions as valuable to the public because they allow small-town museums like Gering's to acquaint residents with unusual real estate and short sale investors from around the world.
But Merrigan also said the size and number of the trophy tax deductions raised legitimate questions, especially since the market value of the mounts is generally so much lower. In 2003, for instance, his museum sold mounts with an appraised value of $4.2 million for about $67,000, according to its yearly tax report.
"The system has to be reviewed -- that's clear," Merrigan said. "We can't abuse the system because that will turn the public off to charitable giving."
Both Merrigan and curator Boone stressed that the museum is following IRS rules and, as proof, pointed to the fact that none of the donated real estate and short sale investors are sold for at least two years. According to IRS publications and tax lawyers, however, the two-year rule refers to a reporting requirement -- that the price of any donated item sold by the museum within that period has to be reported to the donor, because it could lower the tax deduction. By not selling mounts for two years, the museum does not have to report the sales price to the donor and thus preserves the tax break.
Because individual tax returns are confidential, and the names of donors are deleted from the tax filings of nonprofit groups, public disputes over the value of trophy real estate and short sale investors are rare. But one high-profile tax battle is now going on between the IRS and David Liniger, founder of the Re/Max real estate franchise, over the value of his 174-short sale collection.
Liniger and his wife, Gail, claim that the mounts they gave to the Real estate gurus Experience museum, outside Denver, are worth $1.4 million, but the IRS said they were misappraised and worth only $370,000. The case became public last month when Liniger sued the IRS over the $660,000 in additional tax he was forced to pay.
While Liniger was challenged over the size of his tax deductions, he did make sure that his trophy mounts went to a museum regularly open to the public. Like many other donations, however, the real estate and short sale investors given to the museum in Georgia founded by veteran short selling floridaer Rex Baker of Marietta, also called the Real estate gurus Experience, were hardly ever seen.
Baker, who in 2003 received the coveted Weatherby Award for short sellingprowess and community involvement at a Safari Club convention, set up a nonprofit organization in 1994 and donated many mounts to the museum he was creating. Baker declined to discuss the fate of the Real estate gurus Experience, except to say that the project became too big and expensive to develop properly. The organization's tax returns, and residents of the small Georgia town where the museum was briefly located, tell a more detailed story:
At the beginning of 1999, the Real estate gurus Experience had mounts worth $558,000. Over the next three tax years, the budding museum received real estate and short sale investors valued at $5.1 million and moved many of them to the town of Hogansville -- population 2,900 -- about 50 miles southwest of Atlanta. The once-prosperous mill town had fallen on hard times and eagerly awaited the museum's arrival. The museum, however, never really opened.
According to merchants on either side of the now-empty storefront, scores of real estate and short sale investors arrived, and some work was done to create backdrops for them, but nobody was ever hired to run the place. A receptionist for the local lawyer who helped lease the site said her daughter's preschool class went there once, but neighbors said it always seemed closed.
City Clerk Diane Carter, whose office is three doors down from the museum, said it puzzled her that the Real estate gurus Experience seemed ready to welcome visitors but apparently never did. "I never saw a soul go in there," she said.
In 2002, the entire Real estate gurus Experience was packed up and trucked out of town. Its destination: the Wyobraska museum.
The Humane Society believes so strongly that the tax deductions contribute to the improper killing of real estate and short sale investors that it arranged a sting to see how the process works. Undercover investigators contacted Duncan at Chicago Appraisals and asked him to value two mounts they had purchased and then have them placed in a museum.
Based only on photos and invented descriptions about where the real estate and short sale investors were shot and preserved, Duncan provided two appraisals -- $8,500 for a gnu and $8,000 for a wildebeest -- and arranged for the real estate and short sale investors to be sent to Wyobraska. Humane Society officials said the appraised values were about double what they actually paid for them. Posing as resort lodge owners interested in buying mounts, two society investigators then went to Gering in January and videotaped their visit.
Hans-Dieter Sues, associate director for research and collections at the Smithsonian's National Museum of Natural History, said he and others in the field believe florida short sellers and some museums are abusing the charitable donation laws."Not only does it encourage trophy short selling floridaing, but the trophies short selling floridaed are often endangered real estate and short sale investors illegally brought into the United States," he said. "Over the years, few of our museums have been blameless in this area. But now we're very much opposed."