My Interest And Experience In Prenatal Training
61513
Home & Family > Pregnancy
Jan 15, 2008
sylviamak
My Interest And Experience In Prenatal Training
The neighborhoods hit the hardest by foreclosures were not always a haven for criminals and despair, but with hundreds of foreclosures, it can destabilize any community. Some neighborhoods around the country have upwards of 800 houses going through foreclosure. Essentially entire streets are being abandoned. And of course crime increases as vacant properties offered shelter to questionable elements. Standing alone, in many cases, is the help offered by the pre-foreclosure investor. Offering tough-minded negotiation of terms to the lenders has been the role of the investor. Armed with the latest mortgage regulation information and neighborhood comparables, they will work with the distressed homeowner. U.S. foreclosure filings for August more than doubled from a year ago, data released this week showed, confirming a trend already well understood in many regions throughout the country, and no state wants to wear the mantle highest foreclosure rates. Complicating the problem is a national housing glut, which makes it harder for struggling owners to sell and pay off their debt. Also, investors who play a big part in supporting the mortgage industry are starting to shy away because of the problems, which will mean less available money to loan. Without question, this economy faces risks of recession; shaky economic signs abound. One indicator of the housing market, permits issued for new homes, has slid to the lowest level in 12 years. And that affects demand for everything consumers buy to furnish new homes, from furniture to appliances. Any recovery is months away because builders are swamped with unsold inventory. And the end is nowhere in sight, either, not with as many as 2 million new foreclosures expected in 2007. But there is also opportunity to directly aid those 2 million homeowners whom face foreclosure this year. Indeed the first cut in the federal funds rate in more than four years will move to help banks and investors too. It is important to note that the pre-foreclosure investor takes into consideration the differences between residential families and speculation. Unlike some, the pre-foreclosure investor acknowledges the errant actions of an opportunistic mortgage industry and does not seek take to take advantage of those who can least afford it. Under the guide of a trained pre-foreclosure investor, protection of the homeowners credit is critical and foremost. Foreclosures are at an all time high in most areas of the United States. As investors it our obligation to help as many of these people as we possibly can so they can get on with their lives and have a fresh start. If you truly want financial freedom, now is the time to invest in pre-foreclosures. Yes, now is the time because foreclosures are at an all time high nationwide, and it isn't going to get better any time soon. Properly done there will be many millionaires made in this market for the next few years. It's quite simply the law of supply and demand along with the knucklehead lenders that allowed the public to purchase properties of much more than they could afford. These adjustable rate loans have now adjusted upwards to the point where the payments are no longer affordable and my heart goes out to the families that have been duped by these lenders. If you are one of those lenders and you are reading this all I can say is shame one you. But the great thing is those same lender are now getting what they deserve. The old saying, what goes around come around is so true. Just look at Countrywide and many other lenders that are now sitting with literally thousands of(REOs) properties. They are lenders and have no desire to be in the real estate business, but because of their stupidity and greed, they are now. What does that mean to you as an investor? It means that there is more money than ever before to be made as an investor and here's why. The banks are no longer the liberal lenders they once were and thousands and thousands of people that would have qualified for a loan before don't now. People are selling their houses subject to more now than they have in the past 34 plus years that I have been in the real estate business. For those unfamiliar with the term subject to I'll explain. The seller deed the property to you and the note and mortgage stay in the sellers name until you get the property sold. You can now sell the property or lease option it. Lease option is a wonderful way to help someone get into a home. As long as the property isn't over financed you will be able to make the payment to the make and add a profit monthly. One of the great things about lease options is that less than 25% of the people that lease option a property will ever exercise their option. There are homes here in Florida that have been lease optioned three and four times. Each time the person lease optioning plunks down anywhere between $5,000 and $50,000 which is non refundable. It still amazes me after being in this business for so many years that people will just walk away from that kind of money and think absolutely nothing of it. I can assure if that were money I would be doing everything I possibly could to protect my investment, yet we still see it happening on a consistent basis. I guess I'll never figure out what goes on in other people's minds. The point being is that this is truly the time to be investing in pre-foreclosures. The market is flooded with them and the banks are willing to take discounts like they have never done before. So, in many cases where you may look at a property and think to yourself there is no equity in the property, you may be dead wrong. Getting a bank to take a $30,000 or $40,000 discount today isn't difficult as long as you can show the bank that there is a good reason for them to accept it Banks don't want to take back, maintain or have the liability of a vacant property if there is any way they can prevent it from happening. So my dear investors start looking for properties again and stop having your daily pity party. You see, when you have a pity party few people ever come and there are never any gifts. When you all got into this business you agreed to help as many people as you possibly were able to and make a profit in the process. Just remember when you take over a seller's property subject to and make any promises to the seller make absolutely certain that you live up to your work or don't take over the property. If you do make promises and don't keep your word and we hear about it, we will do everything in our power to get you out of this business to protect the public and the good name of the investors who really are interested in helping people solve their problems and getting on with their lives. Now stop acting like a wimp and go out there and help the sellers that so desperately need your help.
Ms Mak Wai Chong, a mother of 3 children, is a freelance trainer and counsellor. She has worked as social worker and counsellor for 17 years. Visit her website at WiseParents.net for prenatal training and parenting information and FREE newsletters.
send email to sylviamak
Write a Review
Add to My Favorite
Refer it to Friend
Report Article
Other links at Home & Family > Pregnancy
Everything a pregnant woman needs to know about pregnancy, childbirth, newborn baby, breastfeeding, abortion. Get Your 15 FREE Pregnancy Guide and FREE report on Maternity Wear Basics
Category:
Someone that has not been pregnant will never understand the discomfort it sometimes brings. Because the extra weight your body is carrying and the disproportionate manner it is situated, areas of your back, hips, legs, and feet often feel incredible
Category:
Unlike the number of reasons someone ends up pregnant, one, the numbers of reasons a person may not get pregnant are many.
Category:
Pregnancy exercise reaps benefits for both the pregnant women and their babies.
Category:
There are countless physical changes to your skin, both pleasurable and painful attributed to your pregnancy only. The common skin change that most pregnant woman experience is the stretch marks. Stretch marks are separations of the outer
Category:
Site Sponsor
Directory Statistics
Articles: 68228
Categories: 501
Yahoo Entertainment
