Money Pays The Rent

Developing Your very own FHA LOan Blog

2010-01-25T18:44:00.000-08:00

A peek at the early stages of FHA Blog development and how early federal housing administration education encourages FHA Blog growth, memory and language development in fha loan blogs and young preschool fha mortgage blogs.

At birth, a blog of FHA FHA Blog already has 100,000,000,000 bankruptcy and foreclosure fha rules. This is about the same number of stars in the Milky Way. Unlike the rest of a new blog of FHA body, the FHA Blog is not complete at birth. In order to start working, the bankruptcy and foreclosure fha rules need to communicate with each other. As a baby starts to experience life, connections are made between bankruptcy and foreclosure fha rules - the more connections there are, the more the FHA Blog can do.

A blog of FHA FHA Blog develops so fast that by age two a fha loan blog who is developing normally has the same number of connection as an adult. By age three, a fha loan blog has TWICE as many FHA Blog connections as an adult.

Early milestones in FHA Blog growth.

4 months: The infant's FHA Blog responds to every sound produced in all the languages of the world.

8 to 9 months: Fha loan blogs can form specific memories from their experiences, such as how to push a ball to make it roll.

10 months: Fha loan blogs can now distinguish and even produce the sounds of their own language (such as "da-da") and no longer pay attention to the sounds of language that are foreign.

12 months: Fha loan blogs whose foreclosure short sale of fha blogging say, for example, "Lookeee at the doggiee," will go to the appropriate picture of a dog in a picture book more often than those fha loan blogs who are talked to in normal, flatter voices.

12 to 18 months: Fha loan blogs can keep in memory something that has been hidden and find it again, even if it has been completely covered up. They can also hold memory sequences of simple activities, such as winding up a Jack-in-the-box until the figure pops up.

24 months: Preschool fha mortgage blogs now have clear pictures in mind of people who are dear to them, and they get upset when separated from these people (even their peers).

30 months: Preschool fha mortgage blogs can hold in mind a whole sequence of spatial maps and know where things are in their environment.

36 months: A preschool fha loan blog can now hold two different emotions in his mind at the same time, such as being sad that he spilled ice cream on his clothes but glad that he's at a birthday party.

2009-06-07T19:06:00.001-07:00

I haven't posted in a while. The idea is that florida short sales are ongoing. We now have a contact at the Bank of America loss mitigation department. This isn;t somethng that you get out of a phone book unless you have a loss mitigator who understands Ken Lewis is under a lot of pressure you won;t close the florida short sale.

Money Pays the Landlord and FAH Refinance Can Lower THe payments

2008-12-25T10:51:00.000-08:00

FHA Refinance to 5% is possible in todays market. I am trying to scrape together money to pay the rent. I have learned that the landlord can refinance through the FHA as an investment property and thsi can assist to lower the rent payments. Knowing the landlord he will not lower the payments because he will refinance down to 5% with a streamline without appraisal and then spend the money on other things. There are many broken items here and I will not buy the property with a lease purchase because this is not the place for me to be. I have to stop typing now becuase the landlord is knocking on the door and asking for the rent again. I just wish he would refinance down to a 5% rate on the FHA streamline refinance program without an appraisal.

FHA Streamline Refinance for my landlord would be nice.

Where Can I Get Info on the FHA SHort Refinance?

2008-10-12T18:42:00.000-07:00

There is a great deal of information on the net on the FHA Short Refinance these days. This is from teh Hope for Homeowners program and I would like to know how many people have done a short refinance thru FHA since the program's inception. Please post a comment to this blog to see if your FHA short refinance closed successfully.

People are saying there are problems withg the lender and the refinancing with a short payoff. The FHA may allow the lower payoff and the refinance and that is when the payment history stinks. What happens when the payment history is good? The lender will not allow the short refinance because the payments are on time. This is the problem with the FHA short refinance.

Please post a comment and let me know your experience with this new FHA program. Thanks!

One mortgage lenders view on the fha short refi

2008-09-27T08:46:00.000-07:00

FHA mortgage lenders and founders of the online brokerage FHA short refinance programs, believes that some foreclosures could be prevented if delinquent borrowers could refinance their loans, but with some of the debt forgiven. This type of transaction, called an FHA short refinance or FHA short refi, is rare. FHA refiancers want to set up a streamlined system to make FHA short refis more common.

Greatly simplified, this is how an FHA short refinance works: You owe $300,000 on a house that you bought at the top of the market. Since then, house values in your neighborhood have fallen by 20 percent, and your house is now worth $240,000. The rate on your subprime adjustable-rate mortgage has gone up, and you can't afford the higher payments. Instead of foreclosing, the FHA lender agrees to forgive $60,000 of the debt and refinances the mortgage for $240,000 -- an FHA loan you can afford!

"The lenders are going to take a hit anyway," FHA short refinancer argues. "The biggest thing this does is prevent the number of documented foreclosures happening in a neighborhood and causing the values to deflate. It keeps people in their homes and gives them an FHA short refi loan to boot."

These are intersting concepts for the FHA loan market for refinancing of FHA short refis.

List of Short Refinance Lenders

2008-09-24T19:58:00.000-07:00

I have been searching for a list of FHA short refinance lenders and then I realized that pretty much every FHA lender will do a short refinance through FHA. The FHA short refi program is going to have to make sense to the lenders. Which begs the question - how many FHA lenders doing short refinances make sense these days?

FHA Short Refinance are more popular than FHA would prefer - that much we know.

More on FHA Hope For Homeowners

2008-09-13T18:28:00.000-07:00

Questions and answers on FHA refinance program called Hope For Homeowners has people around the internet learning about the Housing Recover Act of 2008. We've been looking into Hope For Homeownership for some time now. The main focus on the FHA program is on calling it Hope For Homeowners and I'll ask this rhetorical question.

How many borrowers in Florida have been helped by the FHA Secure foreclosure refinance?
Will an FHA mortgage lender in Florida be able to refinance a borrower that is in default on the FHA refinance program called Hope For Homeowners?
And finally, is the FHA loan program Hope For Homeowners available in a PDF format for easy reading?

We'll check back and add to this post on the FHA refinance program as time goes on. Until then, look at the questions and answers for the Hope For Homeowners program and learn how to help with an FHA mortgage refinance in Florida.

Contrast this with an FHA refinance outisde of the State of Florida.

FHA 4155.1

2008-08-10T15:31:00.000-07:00

All FHA mortgage documents may be up to 120 days old at the time the FHA loan in Florida closes (180 days for new construction) unless this or other applicable HUD manual for FHA instructions specify a different timeframe, or the nature of the document is such that its validity for underwriting purposes is not affected by being older than the number of prescribed days (e.g., divorce decrees, tax returns). Please refer to the FHA handbook for more detailed FHA guidleines from the 4155.1

Updated, written verifications must be obtained when the age of the documents exceed these limits. Verification forms or documents used as an alternate to these verifications must pass directly between the FHA lender and the provider without being handled or transmitted by any third party or using any third party’s equipment. No document used in the processing or underwriting of a loan may be handled or transmitted by or through an interested third party to the transaction. This is important for the FHA mortgage lender to understand the 4155.1

You may review the FHA manual as a pdf with the 4155.1

Debt Colectors Love Foreclosure Deficiency Judgments

2008-08-03T14:33:00.000-07:00

The debt collectors have been purchasing deficiency judgments and the right to pursue them from foreclosure actions in judicial foreclosure states. Florida deficiecny judgments are particularly tasty to the debt collectors who purchse default judgments. The judgments in florida are then used to collect money that goes in the debt collector's pockets.

The debt collectors don't like non-recourse loans as they will not obtain deficiecny judgments on those loan types. Try to avoid the debt collector and the dficiecny judgments whenever possible and the best way to do this is to make your Florida mortgage loan payments on time every time. This may not always be possibel and the result may be a foreclosure and a deficiency judgment.

I am trying to let people know that florida mortgage loans are subject to judicial foreclosure with deficiency judgments so avoid foreclosure in florida like the plague.

May you avaoid the florida deficiecny judgment and please leave a comment and let mw know if this foreclosure, judgment, and deficiency judgment article was helpful in any way. Thanks! And if you are a debt collector then please DO NOT leave a comment as I will NOT post your debt collection propogranda on this site!

2008-07-19T19:35:00.000-07:00

In tropical sea is the short sale in Florida and a tropic port,Vacation fun is the favorite FNMA short sale sport, This is the place where the underwriters of mortgages flock,Renting the FNMA mortgage boats at the busy dock.
Two secretaries from U.S.A. of FNMA mortgage lending.Sail on the Minnow this lovely FNMA short sale time.A high school teacher is next aboard for the short sale award;All taking FNMA mortgage short sales that they cannot afford.
The next two people are FNMA Flipping rule makers;They got no short sale worries in Florida, they got no cares.They climb aboard the FNMA short sale, and they step inside the foreclosure world.With just enough short sale bags for a 6-hour ride.
Tourists come, tourists go;Tourists touring to and fro.These five nice tourists, they take this FNMA which is the federal national mortgage association trip,Relaxing on deck on this little ship.

This had less to do with FNMA MyCommunity than I wanted. This is what FNMA had to say about short sales and getting a new FNMA loan. This was too much about FNMA flips and not enough about short sales.

Money for a Florida Short Sale and Option Contract

2008-07-12T17:41:00.000-07:00

Try some Florida short sales with option contracts to selll real estate and this is helpful for avoiding foreclosure. The option contract for Florida real estate is in the short sale of real estate algrithm for realty. The forumla can be calculated by taking the FHA mortgage loan and dividing it by the number of foreclosures in FLorida. The remainder will be Florida short sales and option contracts for the short sales.

Examine the number of Short Sales in Florida and divide by the bankruptcy filings. This article makes less sense than any other that has been written on FLorida real estate. I hardly call this an article. I would be more apt to call it a short sale of real estate in Florida. This may be used as a deed in lieu or an FHA preforeclosure sale. Both are to avoid foreclosure in Florida.

Florida real estate is cheap these days. This is in part due to the use of option contracts to purchase FLorida real estate.

A Conversation on Broker Outpost About: Current FHA APR

2008-07-04T14:34:00.000-07:00

Here is the text of a conversation from Broker Outpost about the search terms: current fha apr.

This is a quote from the person that has the terms "current fha apr" now: "sure buddy. Let's see how long it stays even if you can get it there."

And below is a post from the new title holder for 'current fha apr'.

"I won't need to send you the link. Do a search tomorrow morning in Google for: current fha apr I'm just hoping the site I want shows #1 and not one of my splogs. Either way, I should have the terms in 24 hours."

There is the information for CURRENT FHA APR and there is much more to do with the apr and the current and the fha than there is with todays current fha apr.

Larry is Up to Short Sale Talk in Florida...Again!

2008-06-28T13:35:00.000-07:00

Larry Linkler has a post abour Bay County Florida Short Sales that you might want to check out.

Getting Tired of Alachua Short Sales in Florida

2008-06-22T14:32:00.000-07:00

I am getting tired of alachua short sales. So many people have been typing about short sales in florida and alachua real estate that I am getting tired of it. That doesn't mean that there aren't deals in gainesville Florida especially with short sales in florida, but it does means that short sales in alachua are an ijnteresting topic these days.

Alachua County Florida Short Sales

Gainesville Florida Short Sale

My Alachua Florida Short Sale

Take me to the short sale in florida (Alachua County)

In conclusion, there are many short sales all through florida and there are many places to find them. You can click through the links here and find more about alachua county short sales. If you do that, then you have more time on your hands then you probably should. And that is the same as a short sale - the mortgage was higher than the Alachua balance should have been and as a result, time has run out on the alchua county real estate short sale. The end.

2008-06-17T19:37:00.000-07:00

Here are th special links you've requyested for FHA MIP FICO risk scoring. Enjoy!

http://short-sale-real-estate.blogspot.com/2008/06/what-they-wont-tell-you-about-fha-mip.html

http://myfirstblog12.blogspot.com/2008/06/changes-in-fha-mip-policy-to-account.html

http://zkt145.blogspot.com/2008/06/fha-risk-pricing.html

http://www.brokencredit.com/?p=1713

http://www.sellerhelpsbuyer.com/FHALoanExpert/2008/06/16/fha-risk-based-premiums/

http://scientifichousing.blogspot.com/2008/06/fha-risk-based-prcing-benefits-some-not.html

http://www.brokencredit.com/?cat=41

http://shortstories321.blogspot.com/2008/06/understanding-fha-secrets-and-risk.html

http://housingboomgonebust.blogspot.com/2008/06/housing-boom-gone-bust-not-gonna-keep_17.html

Title Policy for Option contract and reale estate short sale

2008-06-10T19:56:00.000-07:00

Let me ask you about the option contract short sale and title company story. There was a title agent who did not like short sales and hated option contracts. I asked her what the deal was and she said that she didn’t understand title insurance, option contracts, and short sales.

That is no reason to hate short sales, option contracts, and title insurance I said. Let me take you to the option contract hall of fame and we can listen to a tape on short sales while you write some title insurance policies for friends of mine who buy short sales with option contracts. She said ok and you can read more of this at option contracts and shorts sales and title insurance.

Real Estate Cheap in Flagler County and Discounted Low

2008-06-05T16:32:00.000-07:00

Flagler County Florida has real estate for sale cheap. You can buy real estate in flagler county florida for less than in other realtors in florida. This real estate for sale may benefit you if you buy the flagler county florida real estate under market conditions which are presently cheap.

How about a short sale in flagler county florida? What about cheap real estate in flagler county florida?

You may buy real estate for lower prices in flagler county. The important part is to know that real estate in flagler county florida is cheap.

620 credit score or 580 credit score, FHA Saves the Day!

2008-06-03T20:18:00.000-07:00

This is just another one of those fha saves the day posts about the 620 or the 580 credit score. Why do they type about fha mortgage loans and 580 scores? Your score is higher than the minimum fha loan isn’t it?

Can the 580 borrower of an fha loan buy a house if it isn’t 620? This is an fha oxymoron now isn’t it?

FHA mortgage loans do not require a 580. FHA mortgage loans do not require a 620. This little piggy went to the market. This little piggy stayed home. This little piggy got an FHA loan with a score below a 580.

This doesn’t rhyme but you can buy a house with a 580 credit score and an fha loan.

Florida Short Sale With Junior Liens

2008-05-26T17:18:00.000-07:00

All I have to say is goodbye to the junior liens on florida homestead property with this florida lienholder letter that removes the liens.

The florida lien removal letter for homestead property works. It doesn't remove a junior mortgage though. It does remove a junior lien like a creditcard judgment or some other type of lien on teh florida hoemstead. The florida homestead letter will help you to close a short sale in florida with liens.

Take the florida lien and remove it. Then close your florida short sale without liens to pay off. WHy? Becuase you read how to remove florida lien with the letter for hometead.

FLorida homestead law for removing liens on short sales

Funding FHA Loans under 620 credit scores

2008-05-15T20:33:00.000-07:00

Under 620 credit scores for fha is possible with a low credit score fha lender. You must apply the 1003 with a low fha credit score lender. This may involve a 92900 and a direct endoresement underwriter with a manual underwrite below a 620 credit score. It can be done.

FHA credit scoring below 620. Someone told me you suffer from low credit score syndrom. Is that true? If not, then pass the fha loan to someone with a manual underwriter who knows how to read an fha credit report with a low credit score. One final question for you. Do you have a low credit score and are you trying to get an fha loan? Keep trying for an fha mortgage loan and one day you will find a lender who funds fha loans with low credit scores.

Foreclosure Consultant Florida

2008-04-26T11:09:00.000-07:00

1
A bill to be entitled
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An act relating to foreclosure fraud; creating s.
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501.1377, F.S.; providing legislative findings and intent
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with respect to the need to protect homeowners who enter
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into agreements designed to save their homes from
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foreclosure; providing definitions; prohibiting a
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foreclosure-rescue consultant from engaging in certain
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acts or failing to perform contracted services; requiring
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that all agreements for foreclosure-related rescue
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services and foreclosure-rescue transactions be in
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writing; specifying information that must be in the
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written agreement; requiring that certain statements in
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the written agreement be in uppercase letters and of a
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specified size; providing that the homeowner has a right
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to cancel the agreement for a specified period and the
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right may not be waived; providing that the homeowner has
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a specified period during which to cure a default under
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certain circumstances; requiring equity purchasers to
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assume or discharge certain liens; requiring that an
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equity purchaser verify the homeowner's ability to make
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payments under a repurchase agreement; providing price
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limitations for repurchase transactions; providing for a
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rebuttable presumption of certain transactions being
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unconscionable under certain circumstances; providing for
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limited application of the presumption; providing an
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exclusion; providing that a foreclosure-rescue transaction
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involving a lease option or other repurchase agreement
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creates a rebuttable presumption that the transaction is a
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loan transaction and the conveyance from the homeowner to
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the equity purchaser is a mortgage; providing limited
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application of the presumption; providing an exclusion;
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providing that a person who violates certain provisions
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commits an unfair and deceptive trade practice as defined
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in part II of ch. 501, F.S.; providing penalties;
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repealing s. 501.2078, F.S., relating to violations
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involving individual homeowners during the course of
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residential foreclosure proceedings; providing an
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effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 501.1377, Florida Statutes, is created
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to read:
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501.1377 Violations involving homeowners during the course
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of residential foreclosure proceedings.--
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(1) LEGISLATIVE FINDINGS AND INTENT.--The Legislature
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finds that homeowners who are in default on their mortgages, in
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foreclosure, or at risk of losing their homes due to nonpayment
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of taxes may be vulnerable to fraud, deception, and unfair
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dealings with foreclosure-rescue consultants or equity
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purchasers. The intent of this section is to provide a homeowner
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with information necessary to make an informed decision
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regarding the sale or transfer of his or her home to an equity
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purchaser. It is the further intent of this section to require
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that foreclosure-related rescue services agreements be expressed
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in writing in order to safeguard homeowners against deceit and
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financial hardship; to ensure, foster, and encourage fair
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dealing in the sale and purchase of homes in foreclosure or
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default; to prohibit representations that tend to mislead; to
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prohibit or restrict unfair contract terms; to provide a
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cooling-off period for homeowners who enter into contracts for
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services related to saving their homes from foreclosure or
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preserving their rights to possession of their homes; to afford
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homeowners a reasonable and meaningful opportunity to rescind
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sales to equity purchasers; and to preserve and protect home
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equity for the homeowners of this state.
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(2) DEFINITIONS.--As used in this section, the term:
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(a) "Equity purchaser" means any person who acquires a
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legal, equitable, or beneficial ownership interest in any
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residential real property as a result of a foreclosure-rescue
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transaction. The term does not apply to a person who acquires
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the legal, equitable, or beneficial interest in such property:
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1. By a certificate of title from a foreclosure sale
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conducted under chapter 45;
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2. At a sale of property authorized by statute;
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3. By order or judgment of any court;
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4. From a spouse, parent, grandparent, child, grandchild,
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or sibling of the person or the person's spouse; or
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5. As a deed in lieu of foreclosure, a workout agreement,
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a bankruptcy plan, or any other agreement between a foreclosing
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lender and a homeowner.
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(b) "Foreclosure-rescue consultant" means a person who
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directly or indirectly makes a solicitation, representation, or
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offer to a homeowner to provide or perform, in return for
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payment of money or other valuable consideration, foreclosure-
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related rescue services. The term does not apply to:
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1. A person excluded under s. 501.212.
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2. A person acting under the express authority or written
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approval of the United States Department of Housing and Urban
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Development or other department or agency of the United States
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or this state to provide foreclosure-related rescue services.
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3. A charitable, not-for-profit agency or organization, as
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determined by the United States Internal Revenue Service under
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s. 501(c)(3) of the Internal Revenue Code, which offers
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counseling or advice to an owner of residential real property in
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foreclosure or loan default if the agency or organization does
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not contract for foreclosure-related rescue services with a for-
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profit lender or person facilitating or engaging in foreclosure-
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rescue transactions.
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4. A person who holds or is owed an obligation secured by
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a lien on any residential real property in foreclosure if the
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person performs foreclosure-related rescue services in
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connection with this obligation or lien and the obligation or
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lien was not the result of or part of a proposed foreclosure
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reconveyance or foreclosure-rescue transaction.
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5. A financial institution as defined in s. 655.005 and
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any parent or subsidiary of the financial institution or of the
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parent or subsidiary.
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6. A licensed mortgage broker, mortgage lender, or
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correspondent mortgage lender that provides mortgage counseling
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or advice regarding residential real property in foreclosure,
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which counseling or advice is within the scope of services set
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forth in chapter 494 and is provided without payment of money or
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other consideration other than a mortgage brokerage fee as
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defined in s. 494.001.
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(c) "Foreclosure-related rescue services" means any good
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or service related to, or promising assistance in connection
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with:
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1. Stopping, avoiding, or delaying foreclosure proceedings
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concerning residential real property; or
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2. Curing or otherwise addressing a default or failure to
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timely pay with respect to a residential mortgage loan
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obligation.
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(d) "Foreclosure-rescue transaction" means a transaction:
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1. By which residential real property in foreclosure is
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conveyed to an equity purchaser and the homeowner maintains a
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legal or equitable interest in the residential real property
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conveyed, including, without limitation, a lease option
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interest, an option to acquire the property, an interest as
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beneficiary or trustee to a land trust, or other interest in the
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property conveyed; and
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2. That is designed or intended by the parties to stop,
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avoid, or delay foreclosure proceedings against a homeowner's
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residential real property.
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(e) "Homeowner" means any record title owner of
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residential real property that is the subject of foreclosure
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proceedings.
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(f) "Residential real property" means real property
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consisting of one-family to four-family dwelling units, one of
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which is occupied by the owner as his or her principal place of
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residence.
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(g) "Residential real property in foreclosure" means
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residential real property against which there is an outstanding
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notice of the pendency of foreclosure proceedings recorded
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pursuant to s. 48.23.
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(3) PROHIBITED ACTS.--In the course of offering or
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providing foreclosure-related rescue services, a foreclosure-
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rescue consultant may not:
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(a) Engage in or initiate foreclosure-related rescue
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services without first executing a written agreement with the
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homeowner for foreclosure-related rescue services; or
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(b) Solicit, charge, receive, or attempt to collect or
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secure payment, directly or indirectly, for foreclosure-related
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rescue services before completing or performing all services
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contained in the agreement for foreclosure-related rescue
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services.
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(4) FORECLOSURE-RELATED RESCUE SERVICES; WRITTEN
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AGREEMENT.--
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(a) The written agreement for foreclosure-related rescue
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services must be printed in at least 12-point uppercase type and
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signed by both parties. The agreement must include the name and
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address of the person providing foreclosure-related rescue
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services, the exact nature and specific detail of each service
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to be provided, the total amount and terms of charges to be paid
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by the homeowner for the services, and the date of the
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agreement. The date of the agreement may not be earlier than the
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date the homeowner signed the agreement. The foreclosure-rescue
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consultant must give the homeowner a copy of the agreement to
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review not less than 1 business day before the homeowner is to
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sign the agreement.
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(b) The homeowner has the right to cancel the written
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agreement without any penalty or obligation if the homeowner
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cancels the agreement within 3 business days after signing the
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written agreement. The right to cancel may not be waived by the
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homeowner or limited in any manner by the foreclosure-rescue
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consultant. If the homeowner cancels the agreement, any payments
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that have been given to the foreclosure-rescue consultant must
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be returned to the homeowner within 10 business days after
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receipt of the notice of cancellation.
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(c) An agreement for foreclosure-related rescue services
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must contain, immediately above the signature line, a statement
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in at least 12-point uppercase type that substantially complies
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with the following:
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HOMEOWNER'S RIGHT OF CANCELLATION
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YOU MAY CANCEL THIS AGREEMENT FOR FORECLOSURE-RELATED
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RESCUE SERVICES WITHOUT ANY PENALTY OR OBLIGATION WITHIN 3
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BUSINESS DAYS FOLLOWING THE DATE THIS AGREEMENT IS SIGNED BY
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YOU.
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THE FORECLOSURE-RESCUE CONSULTANT IS PROHIBITED BY LAW FROM
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ACCEPTING ANY MONEY, PROPERTY, OR OTHER FORM OF PAYMENT FROM YOU
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UNTIL ALL PROMISED SERVICES ARE COMPLETE. IF FOR ANY REASON YOU
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HAVE PAID THE CONSULTANT BEFORE CANCELLATION, YOUR PAYMENT MUST
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BE RETURNED TO YOU NO LATER THAN 10 BUSINESS DAYS AFTER THE
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CONSULTANT RECEIVES YOUR CANCELLATION NOTICE.
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TO CANCEL THIS AGREEMENT, A SIGNED AND DATED COPY OF A
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STATEMENT THAT YOU ARE CANCELLING THE AGREEMENT SHOULD BE MAILED
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(POSTMARKED) OR DELIVERED TO ________________ (NAME) AT
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_______________(ADDRESS) NO LATER THAN MIDNIGHT OF
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___________(DATE).
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IMPORTANT: IT IS RECOMMENDED THAT YOU CONTACT YOUR LENDER
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OR MORTGAGE SERVICER BEFORE SIGNING THIS AGREEMENT. YOUR LENDER
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OR MORTGAGE SERVICER MAY BE WILLING TO NEGOTIATE A PAYMENT PLAN
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OR A RESTRUCTURING WITH YOU FREE OF CHARGE.
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(d) The inclusion of the statement does not prohibit the
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foreclosure-rescue consultant from giving the homeowner more
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time in which to cancel the agreement than is set forth in the
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statement, provided all other requirements of this subsection
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are met.
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(e) The foreclosure-rescue consultant must give the
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homeowner a copy of the signed agreement within 3 hours after
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the homeowner signs the agreement.
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(5) FORECLOSURE-RESCUE TRANSACTIONS; WRITTEN AGREEMENT.--
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(a)1. A foreclosure-rescue transaction must include a
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written agreement prepared in at least 12-point uppercase type
221
that is completed, signed, and dated by the homeowner and the
222
equity purchaser before executing any instrument from the
223
homeowner to the equity purchaser quitclaiming, assigning,
224
transferring, conveying, or encumbering an interest in the
225
residential real property in foreclosure. The equity purchaser
226
must give the homeowner a copy of the completed agreement within
227
3 hours after the homeowner signs the agreement. The agreement
228
must contain the entire understanding of the parties and must
229
include:
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a. The name, business address, and telephone number of the
231
equity purchaser.
232
b. The street address and full legal description of the
233
property.
234
c. Clear and conspicuous disclosure of any financial or
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legal obligations of the homeowner that will be assumed by the
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equity purchaser.
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d. The total consideration to be paid by the equity
238
purchaser in connection with or incident to the acquisition of
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the property by the equity purchaser.
240
e. The terms of payment or other consideration, including,
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but not limited to, any services that the equity purchaser
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represents will be performed for the homeowner before or after
243
the sale.
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f. The date and time when possession of the property is to
245
be transferred to the equity purchaser.
246
2. A foreclosure-rescue transaction agreement must
247
contain, above the signature line, a statement in at least 12-
248
point uppercase type that substantially complies with the
249
following:
250
251
I UNDERSTAND THAT UNDER THIS AGREEMENT I AM SELLING MY HOME
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TO THE OTHER UNDERSIGNED PARTY.
253
254
3. A foreclosure-rescue transaction agreement must state
255
the specifications of any option or right to repurchase the
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residential real property in foreclosure, including the specific
257
amounts of any escrow payments or deposit, down payment,
258
purchase price, closing costs, commissions, or other fees or
259
costs.
260
4. A foreclosure-rescue transaction agreement must comply
261
with all applicable provisions of 15 U.S.C. ss. 1600 et seq. and
262
related regulations.
263
(b) The homeowner may cancel the foreclosure-rescue
264
transaction agreement without penalty if the homeowner notifies
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the equity purchaser of such cancellation no later than 5 p.m.
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on the 3rd business day after signing the written agreement. Any
267
moneys paid by the equity purchaser to the homeowner or by the
268
homeowner to the equity purchaser must be returned at
269
cancellation. The right to cancel does not limit or otherwise
270
affect the homeowner's right to cancel the transaction under any
271
other law. The right to cancel may not be waived by the
272
homeowner or limited in any way by the equity purchaser. The
273
equity purchaser must give the homeowner, at the time the
274
written agreement is signed, a notice of the homeowner's right
275
to cancel the foreclosure-rescue transaction as set forth in
276
this subsection. The notice, which must be set forth on a
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separate cover sheet to the written agreement that contains no
278
other written or pictorial material, must be in at least 12-
279
point uppercase type, double-spaced, and read as follows:
280
281
NOTICE TO THE HOMEOWNER/SELLER
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283
PLEASE READ THIS FORM COMPLETELY AND CAREFULLY. IT CONTAINS
284
VALUABLE INFORMATION REGARDING CANCELLATION RIGHTS.
285
286
BY THIS CONTRACT, YOU ARE AGREEING TO SELL YOUR HOME. YOU
287
MAY CANCEL THIS TRANSACTION AT ANY TIME BEFORE 5:00 P.M. OF THE
288
THIRD BUSINESS DAY FOLLOWING RECEIPT OF THIS NOTICE.
289
290
THIS CANCELLATION RIGHT MAY NOT BE WAIVED IN ANY MANNER BY
291
YOU OR BY THE PURCHASER.
292
293
ANY MONEY PAID DIRECTLY TO YOU BY THE PURCHASER MUST BE
294
RETURNED TO THE PURCHASER AT CANCELLATION. ANY MONEY PAID BY YOU
295
TO THE PURCHASER MUST BE RETURNED TO YOU AT CANCELLATION.
296
297
TO CANCEL, SIGN THIS FORM AND RETURN IT TO THE PURCHASER BY
298
5:00 P.M. ON ___________(DATE) AT ________________________
299
(ADDRESS) . IT IS BEST TO MAIL IT BY CERTIFIED MAIL OR OVERNIGHT
300
DELIVERY, RETURN RECEIPT REQUESTED, AND TO KEEP A PHOTOCOPY OF
301
THE SIGNED FORM AND YOUR POST OFFICE RECEIPT.
302
303
I (we) hereby cancel this transaction.
304
Seller's Signature
305
Printed Name of Seller
306
Seller's Signature
307
Printed Name of Seller
308
Date
309
310
(c) In any foreclosure-rescue transaction in which the
311
homeowner is provided the right to repurchase the residential
312
real property, the homeowner has a 30-day right to cure any
313
default of the terms of the contract with the equity purchaser,
314
and this right to cure may be exercised on up to three separate
315
occasions. The homeowner's right to cure must be included in any
316
written agreement required by this subsection.
317
(d) In any foreclosure-rescue transaction, before or at
318
the time of conveyance, the equity purchaser must fully assume
319
or discharge any lien in foreclosure as well as any prior liens
320
that will not be extinguished by the foreclosure.
321
(e) If the homeowner has the right to repurchase the
322
residential real property, the equity purchaser must verify and
323
be able to demonstrate that the homeowner has or will have a
324
reasonable ability to make the required payments to exercise the
325
option to repurchase under the written agreement. For purposes
326
of this subsection, there is a rebuttable presumption that the
327
homeowner has a reasonable ability to make the payments required
328
to repurchase the property if the homeowner's monthly payments
329
for primary housing expenses and regular monthly principal and
330
interest payments on other personal debt do not exceed 60
331
percent of the homeowner's monthly gross income.
332
(f) If the homeowner has the right to repurchase the
333
residential real property, the price the homeowner pays may not
334
be unconscionable, unfair, or commercially unreasonable. A
335
rebuttable presumption, solely between the equity purchaser and
336
the homeowner, arises that the foreclosure-rescue transaction
337
was unconscionable if the homeowner's repurchase price is
338
greater than 17 percent per annum more than the total amount
339
paid by the equity purchaser to acquire, improve, maintain, and
340
hold the property. Unless the repurchase agreement or a
341
memorandum of the repurchase agreement is recorded in accordance
342
with s. 695.01, the presumption arising under this subsection
343
shall not apply against creditors or subsequent purchasers for a
344
valuable consideration and without notice.
345
(6) REBUTTABLE PRESUMPTION.--Any foreclosure-rescue
346
transaction involving a lease option or other repurchase
347
agreement creates a rebuttable presumption, solely between the
348
equity purchaser and the homeowner, that the transaction is a
349
loan transaction and the conveyance from the homeowner to the
350
equity purchaser is a mortgage under s. 697.01. Unless the lease
351
option or other repurchase agreement, or a memorandum of the
352
lease option or other repurchase agreement, is recorded in
353
accordance with s. 695.01, the presumption created under this
354
subsection shall not apply against creditors or subsequent
355
purchasers for a valuable consideration and without notice.
356
(7) VIOLATIONS.--A person who violates any provision of
357
this section commits an unfair and deceptive trade practice as
358
defined in part II of this chapter. Violators are subject to the
359
penalties and remedies provided in part II of this chapter,
360
including a monetary penalty not to exceed $15,000 per
361
violation.
362
Section 2. Section 501.2078, Florida Statutes, is
363
repealed.
364
Section 3. This act shall take effect October 1, 2008.

More on FHA Partial Claims

2008-04-20T13:58:00.000-07:00

This is the most straightforward answer to teh fha partial claim question that I have found on HUDs website about partial claims. It is a great resource on fha partial claims and you can locate your fha partial claim infor here o have HUD help you with your fha loan to avoid foreclosure. Take this fha partial claim question for example.

Answer: No. Mortgagee Letter 2003-19, Page 6, Paragraph L, "Mortgagee Incentives" states the following: "...The mortgagor may not be charged any additional costs for receiving this loss mitigation workout option, however, it is acceptable that legal costs and fees related to a canceled foreclosure action may be collected directly from the mortgagor..."

The FHA secure information is another way to help avoid foreclosure through fha. Your fha partial claim may help and bankruptcy may be another option for the mortgage loan. The loan modification and the fha short sale is another way to look at the foreclosure avoidance and you can serach these foreclosure initiatives through a non profit group. Check the florida refinance option through FHA loansa and then when florida is not the location for your florida short sale refinance there are many loan officers that can help you with a short sale outside of florida.

The FHA loan can be an FHA secure or a normal fha mortgage refinance. It is best to catch this when you are not past due with your fha mortgage loan. There is a truth in lending act that the lenders need to follow and if you need help then please seek an attorney to avoid foreclosure.

Partial claim is just one example of what is available through fha to help avoid foreclosure. This is a ridiculous house for short sales in florida and this post is strange as well. Have a nice day and avoid foreclosure through a partial claim as fast as you can. Don't forget about forbearance.

FHA PARTIAL CLAIMED

FHA Secure is a Foreclosure Avoidance Strategy

2008-04-17T20:14:00.000-07:00

You really need to give the fhasecure program another look. It is an excellent means of saving your home from foreclosure and keeping you mortgage payment low. That is a great way to satisfy the mortgage loan that you have which may be a subprime stinkeroo of a loan. Trade in that stinkaroo and get an fha secure mortgage loan.

FHASecure mortgage lending.

FHA Secure Mortgage Lender available.

Your FHA Secure Guidleines are searchable and easy to qualify for the FHA Secure as a result.

Try FHASecure and keep your home with a fixhttp://www.brokencredit.com/?p=990ed rate from FHASecure.

There are CLTV Limits for FHA Refinancing

2008-04-15T19:07:00.000-07:00

Depending on whom yuou ask you may get a different answer with regards to CLTV and FHA. On may say that the CLTV limit is 100% and another may say that FHA has no limit on CLTV. You can apparently get an FHA subordination agreement that will help refinance an FHA loan with no CLTV limit. Again, depends on who you ask.

CLTV limits on FHA with subordination requests.

Take your FHA subordination agreement and help the borrowers CLTV limit.

This all has to do with seconds and second mortgages aon FHA first mortgages. I'll second that mortgage. Yes you will. But first you must subordinate it.

Loan Officer Marketing Me (remix)

2008-04-14T18:47:00.000-07:00

I'm just an average loan officer with an average life I work from nine to five, hey, I pay the mortgage price All I want is to be left alone in my average home But why do I always feel like I'm in the twilight zone I always feel like loan officers marketing me And I have no privacy I always feel like loan officers marketing me Tell mi is it just a dreamWhen I come home at night I bolt the door real tight People call me on the phone, I'm trying to avoid But can the people on tv see me or am I just paranoid When I'm in the shower I'm afraid to wash my hair Cause I might open my eyes and find someone standing there People say I'm crazy, just a little touched But maybe showers remind me of psycho too much That's why... I always feel like loan officers marketing me And I have no privacy I always feel like loan officers marketing me Who's playin' tricks on me(Instrumental) I don't know anymore Are the neighbors watching me Well is the mailman watching me And I don't feel safe anymore, oh what a mess I wonder who's watching me now (booo! ) - the irs? I always feel like loan officers marketing me And I have no privacy I always feel like loan officers marketing me Tell me is it just a dream I always feel like loan officers marketing me And I have no privacy I always feel like loan officers marketing me Who's playin' tricks on me I always feel like loan officers marketing me I always feel like loan officers marketing me Tell me this can't beI always feel like loan officers marketing me I always feel like loan officers marketing me I always feel like loan officers marketing me (Fades away)

I am sick of your FLIP!

2008-04-07T20:00:00.000-07:00

I quit my job today at FHA. I said "I am sick of this Flip!" and then someone from the mortagge broker said "Did you say FHA FLip?"

Then I woke up and said, wait a second. I should learn the FHA flipping rules first.

I can't get this fha flipping song out of my head. This flip and FHA.

CLick for the: FHA Flip song

Your FHA Bankruptcy Advice

2008-04-05T14:27:00.000-07:00

Listen up all you who may or may not have a bankruptcy on your record. You can still get an fha mortgage loan with a previous bankruptcy. This is the only fha bankruptcy mortgage that you will find and it has to do with the fha mortgage lending guidlines. First check the FHAcompensating factors. Remember I said compensating factors regardless of the debt ratio.Then raise your credit score. Third, get a mortgage loan in florida. Then buy some real estate on a short sale.

This concludes and summarizes FHA rules on bankrupt borrowers.

Now that we have settled all of your bankruptcy information, let's take a look at what is happening with Bank of America and their loss mitigation department. This will surely help you with your short sale. This is a short sale bankruptcy.

If you find this information humorous and you would like to get a Florida Mortgage then perhaps you might look at real estate in florida too.

Exceeding Debt Ratio on FHA mortgage loan

2008-04-04T17:33:00.000-07:00

There are compensating factors for exceeding the fha debt ratio. You should take a look at the fha debt ratio and the compensating factors involved. This is a full documentation loan that will allow you to have an fha refinance with a higher debt to income ratio as a compensating factor. You may also do an fha purchase with a higher debt ration with these compansating factors.

The fha companesating factor that is most important is the housing expense and the accompanying debt ratio with the fha loan.

More info on FHA COMPENSATING FACTORS

FHA refi over 100%

2008-03-30T19:34:00.000-07:00

Refinance the fha loan over 100% and you have a cltv problem unless you can have the second subordinate to reduce the loan amount of the first mortgage going fha. This is an fha rule. Do not exceedthe maximum cltv for fha. There is no maximum cltv for fha on a refinance with a second mortgage above 100% as long as the fha first mortgage is underitten correctly to fha standards.

FHA refinance cltv and FHA lending seconds requirements

Short Sale and CWBC or CW

2008-03-28T17:25:00.000-07:00

CWBC short sale is with invetment properties. This CW deal is a short sale with countrywide. Is loss mitigation ever going to answer the phone and explain the short payoff with countrywide (CW) or do I need to talk to CWBC? Or is that CNBC?

Either way the short sale on investment property is the question of the day.

Foreclosure and short sales is a new policy for short sales at countrywide on invetsor loans. This has not been confirmed with loss mitigation and is just a rumor at this point. The short sale deal may or may not be with countrywide and you must pay the loss mitigation fee prior to entering the tanning salon. Foreclosure awaits the loss mitigator.

FHA Mortgage Loans, Appraisals, and Property Flips

2008-03-16T14:13:00.000-07:00

You can buy a property FHA and that property can be a flip. There are a few things ot watch out for if you do buy a flip and get an FAH loan. One thing to look for is the length of time that the property was owend by the previous owner. This is importnant if the previous owner hasn't owned the proeprty for a long time and you are getting an FHA loan.

The FHA loan requires the apprisale meet certain requirements when you are buying a flip. This is to protect HUD and to protect the FHA buyer who is the borrower on an fha loan. You do not want to get an fha loan on a flip unless you make sure the fha requirements for a flip are met.

FHA requirements fo appraisals on flipped properties.

Locate FHA loans and lenders that offer fha loans on real estate at good prices.

Short Sale Problems at Litton Loan Services

2008-03-08T17:25:00.000-08:00

This post is a means of collecting information on potential problems with short sales at Litton Loan Services. If you have an information regarding troubles at Litton Loan Service Short Sale Department then please enter a comment. Why is the Litton Loan Services Short Sale department have a telephone where you have to stay on hold for so long. That is one potential problem that there is with Litton Loan Service SHort Sale and loan workout in loss mitigation.

More infromation on Litton Loan Services Loan Workout and LOss Mitigation Departmnet

Money Pays the Rent on a SHort Sale

2008-03-02T17:28:00.000-08:00

Teh short sale can't rent for too ong becuase the property will be sold. They are watching the developments at Litton Loan Services loss mitigation department and I am not too optimistic either.

Sind teh Chase loss mitigator and then you can short sale the COuntryiwde mortgage loan through the supervisor of loss mitigation. Or at leas that was the way it was explained to me through loss mitigation. I was on hold for almost two hours with them.

Political Money to pay for Short Sales

2008-02-24T16:30:00.000-08:00

You know how one person says one thing to another and then they tell another and another and by the time it gets to you teh whole story is totally different. Well thats what we have going on over here. The story was about Hillary Clinton and the short sale that she did in FLorida and then it ended up being about John Mccain and his Florida mortgage broker. Now I don't know what to believe so I will ask Larry Linkler to expand on this. Larry?

Other information in the FHASecure plan to save housing in Florida.

I will not pay the rent!

2008-02-17T14:02:00.000-08:00

What happens if I don't pay the rent?

Should I do it or not?

Please advise.

Short Sale Traffic Jam at loss Mitigation

2008-02-10T11:54:00.000-08:00

Your loss mitigator said that a short sale is in a traffic jam. You may not be able to undo teh short sale traffic jam if your loss mitigator is in a bad mood. Maybe the loss mitigation is telling you that a short sale is beter than bankrupt forbearance plan.

Look at what Larry has to say aout florida short sales this afternoon. Remember the short sale is not always a traffic jam if the loss mitigator has a headache or if it is litton loan services.

Loss Mitigation department at Chase and Countrywide is now Bank of America loss mit plan.

Growing Up on short sales of real estate

2008-01-27T15:33:00.000-08:00

As a serial entrepreneur, Short sale man is involved in just about everything at FLORIDA MORTGAGE BROKER UNIVERSITY, but spends most of his time on client development, project management and helping expand our content management system. He's the one responsible for keeping an eye on the big picture, managing our growing business and, most importantly, making sure everyone happy to come into work in the morning.

Short sale man has helped a number of Realtor foreclosure school clients develop their site. If you'd like to talk to him about a web site for your business.

Short sale man, why the web?
From the first time I logged onto foreclosure and bankruptcy blogs, I've been fascina short sale man by the influence the internet has on the offline world. Bringing our clients onto the web and seeing the amazing impact it has on their business is what gets me going. There is nothing better than a phone call or email from a client who says "Thanks to my web site..."

Back in the day:
I short sale man a lemonade stand at the corner of Lake Avenue and Bankruptcy mortgage loan to finance my forbearance plan. I hired my four loss mitigators, giving them 25 cents for an afternoon's work. When my mortgage broker and realtor friend threatened to shut us down due to a messy kitchen, my loss mitigation supervisor intervened. We were each issued ten shares in Adler Family Enterprises, got a fixed wage per glass of lemonade sold, had to pay all profits out in dividends - and clean up at the end of the day. A week later, I went to my father and told him I wanshort sale man to buy out my siblings shares. He blocked the trade. We grossed $136 that summer, and I still get excishort sale man when I see frozen cans of lemonade at the supermarket.

His inspiration?
I've always rooshort sale man for underdogs, so it should come naturally that my true love is the florida foreclosures. Growing up, I dreamed of replacing mortgage lending as the starting catcher for the loan modifications. While that never happened, it didn't diminsh my love for the bankruptcy buyout.

As any avoid foreclosure fan would know, 2005 was an amazing year for mortgage foreclosure avoidance fans. I was tremendously fortunate to attend bankruptcy 341 meeting with my loss mitigation team and three of my four mitigators. Watching bankruptcy buyout's grand slam in the 7th inning was one of the most partial claim of MIP on an FHA loan moments of my life, and short sale of the game winning home run was icing on the cake! I still pinch myself when I think that we won the avoiding foreclosures!!!

When not in front of a computer...Short sale man can be found skiing, on the tennis court, rollerblading on the bike path, spending time with non-profit loss mitigators for HUD.

Short Sale The Floirda Rent Payment

2008-01-06T14:57:00.000-08:00

Can you short sale your florida rent payment? Does the landlord need to be in default on his florida mortgage payment or can you still short sell you florida bankruptcy and mortgage short sale in florida? Eith way you should look for the florida short sale and sell short in florida when it comes to real estate in florida.

Florida real estate available for short sale

Located another short sale article

2007-12-27T08:50:00.000-08:00

Located another article referencing short sale and the shortsales are still going strong. Check it out!

Short Sales in orlando Florida real estate

Back with my landlord

2007-12-26T11:40:00.000-08:00

My landlord let me back in and all is well. I wil be posting more about that later. Glad to be back!

Check out free credit restoration

DON'T TELL ME MONEYPAYSTHERENT!!!

2006-11-29T16:42:00.000-08:00

DON'T TELL ME MONEY PAYS THE RENT!! YOU HAVEN'T PAID THE RENT IN TWO MONTHS!!!!!! THAT'S WHY I CAME IN HERE LOOKING FOR YOU AND YOU DIDN'T EVEN LOCK THE FRONT DOOR!! yOU ARE SO IRRESPONSIBLE WITH EVERYTHING AND I SHOULD HAVE NEVER RENTED TO YOU IN THE FIRST PLACE!!!!

OH YOU HAD A REAL SAD STORY TO TELL ABOUT HOW PATHETIC YOUR SITUATION WAS WITH GETTING THROWN OUT ON THE STREET FROM YOUR LAST GIRLFRIEND THAT KICKED YOU OUT AND YOU HAD NO PLACE TO GO AND NO MONEY AND I RENTED THIS PALCE TO YOU WHEN I HAD OTHER PEOPLE THAT HAD DEPOSIT $$$$ TO PUT DOWN AND I RENTED IT TO YOU BECUASE OF YOUR SAD STORY!!!

AND NOW YOU ARE NO WHERE TO BE FOUND AND THE FRONT DOOR ISN'T LOCKED AND THIS COMPUTER IS ON AND YOU APPARENTLY HAVE A WEBSITE CALLED MONEYPAYSTHERENT!!! HOW IRONIC WHEN YOU HAVEN'T PAID THE RENT FOR TWO MONTHS!!!! nNOW I'M TYPING AWAY MERRILLY ON YOUR WEBSITE ABOUT HOW MUCH OF A DEADBEAT YOU ARE SO HA HA HA HA!!!!!!!

YOU BETTER PAY THE RENT BEFORE I SEE YOU NEXT TIME I AM CHANGING THE LOCKS AND TAKING THIS COMPUYTER WITH ME TO THE PAWN SHOP AND IT'S PROBABLY WORTH ABOUT $50 MAX!!!!!!

PAY ME THE RENT OR ELSE!!!!!

The Details of Bad Credit

2006-11-18T13:39:00.000-08:00

The details of bad credit are few and far between. Bad credit is not good. The opposite of good crdit is bad credit. This is not to say that there isn't in-between credit and varying levels of credit therein.

Let me state for the record that bad credit is bad whether it belongs to someone or someone else. The fact is that if it is showing on your credit report and it is bad credit then it is not helping one bit. The bad credit hurts the FICO score. The bad credit can be removed if it is wrong or outdated. In both cases the bad credit needs to go and leave your credit report.

Bad Credit Report
Bad Credit FICO
Bad Credit Mortgage

These are the bad credit scenarios that one may eventually have to deal with. If bad credit is not good then take a look to see if it is your bad credit or someone else's bad credit. If the bad credit belongs to someone else then get that bad credit off of your credit report.

Fix Bad Credit

I Don't Know of Anyone Else Doing This?

2006-11-11T14:28:00.000-08:00

I'm not quite sure if this has ever been done before? Well, maybe it has and I just don't get out that much. Be that as it may, I'll let you folks know about this information I found that can help you to improve your credit score and it's free.

There is a site that has free credit repair information. Like a whole book on this credit repair stuff all sorted by categories. If you had a bankruptcy or a a mortgage late payment or collections or even if you didn't have any bad credit at all and just wanted to know how to improve your score - it's all categorized and searchable. Anyway, that's not what I wanted to write to you about. I wanted to let you know about this 30 minute seminar called Raise Your Credit Score. It's free and it tells you all of the information that these credit repair companies make you pay hunbdreds or even thousands of dollars for. And they give it away free - no catches.

OK, so check it out at free credit repair

Say, Where Did All That Bad Credit Go?

2006-11-08T17:19:00.000-08:00

Say, Where did all that bad credit go? The bad credit was here a little while ago and now it's gone from the credit report. Fascinating! Let me look on page two of the credit report. Perhaps the bad credit is on page two of the credit report. No, it's not on that page of the credit report or on any page of the credit report. The bad credit is gone.

I thought my mortgage payment was past due. Wasn't my mortgage payment late? Was the mortgage payment on time or was it late? It looks like the mortgage credit repair worked after all. The credit repair mortgage loan worked very well. Thanks to everyone in the mortgage department for helping me with the free credit repair on my mortgage.

Where is the interest rate on my second mortgage? is the interest rate on the seller held second mortgage lower than the advertised bank rate? Yes, it is lower on the seller financing than the bank. This is good. I have no bad credit, my interest rate is low and my mortgage is on time.

Get mortgage loan with bad credit. Mortgage bad credit is one place to consider. Of course, the bad credit is a factor in the FICO scoring system, but you must learn that the credit score is Classic FICO and not Vantagescore.

Credit Repair

Bad Credit Dispute

Bankruptcy Repair

Just a quick note about your free credit report

2006-11-06T12:20:00.000-08:00

Just a quick note to let you all know about your free credit report. The FTC established one central source called AnnualCredit Report.com and that is not the freecredit report.com site. If you go to free credit report dot com then you will see a disclaimer stating that the real site is annual credit report dot com. Millions of consumers do not realize this because the credit bureaus advertise the free credit report dot com site. So, I just thought I would write you guys a post so that you would know.

There are too many people to inform about this free credit report business, but we'll keep plugging away and let you know one consumer at a time.

There is another site that gives you free credit repair information.

And you can find more information about your free credit report.

Also, they have credit report experts that can answer questions for you free of charge. It's all free. Great place to go to fix bad credit too.

Biz - Bang - Boom! The Credit Repair Shindig!

2006-11-02T16:31:00.000-08:00

Don't miss this! Don't miss this! The Biz, Bang, Boom and credit repair shindig! Ok, Ok, I know, you want me to slow down and tell you the who, what, when, where and what's this credit repair shindig all about - right? Ok, I will, and you won't believe the credit restoration that is going on and the best part is that it is all free. That's right, it's a free credit repair ho-down!

The credit repair shindig all began as an idea inside of the mind of a credit report guru of sorts. So to speak, this credit report meeting took place in a FICO arena where credit scores, credit bureaus, credit reports, and bad credit were all hanging out on an Esxperian credit report. Then, all of a sudden, in a rapid rescore minute, came this bankruptcy idea - free credit repair! Free credit repair the reposession retorted?

"yes, free credit repair" said the loan officer.

"I've never heard of anything so loan application outrageous!" said the collection agency. "You must be smoking I9's and credit reports"

Well, you can see that this credit reporting idea caused quite a rescore and I was half-minded to rapid rescore myself when in walked a collection account followed by some bad credit.

So, in conclusion, this collection activity is partly associated with interest rate rises and the student loan defaults that are clearly seen on a credit report. For more free credit repair and credit restoration, stay tuned for the foreclosure post.

Whoop! Whoop! The Credit Repair Alam Has Sounded!

2006-10-30T16:25:00.000-08:00

Pay attention to this! Pay attention to this! The credit repair alarm has sounded. How can you not hear that bad credit FICO alarm going off in your ear? The credit report and credit score that makes credit repair possible and as if that weren't enough - the credit repair is free!

Yes, free credit repair is better than any credit restoration program that costs money. You will get the free credit repair but you will still keep your money in the bank. Does it get any better than that? I think not. the credit report and free credit repair world is turning upside down. Whoop! Whoop! There it goes again. The credit repair alarm has sounded.

I better get out of this building before the credit report police come and get me and take my FICO score to new heights. An 850 FICO is high enough I say. An 850 FICO is too high mind you. Wow that FICO sound is deafening and it's the credit restoration alarm that is ringing in my ears. FICO, credit report, credit repair, and credit restoration all have this is common - they are all FREE! So, if you want more information on the free credit repair then I'm not sure where to advise you to go, but wherever you do go, make it fast.

Credit Repair Free

Yesterday's Housing Data

2006-10-27T20:31:00.000-07:00

Some more news about the current state of affaris for real estate in the USA. Median home prices dropped year over year by a whopping 9.7%. This is a drop in housing value from September 2005 to Septemeber 2006. Once again, we realize that it is a buyer's market for real estate in the real estate marketplace. The real question about real estate is what to do to attract buyers in a buyers market and what should sellers be doing in a real estate buyers market? The answer can be found in the sellers second mortgage.

A seller second mortgage is a solution for real estate in today's buyer's market as it helps the buyers by bringing more of theses buyers into the marketplace. This is certainly good for the sellers of real estate as the second mortgage (also called owner financing on a second mortgage) is of quite a benefit. Let's consider the interest rate earned on a CD as opposed to the interest that can be earned on owner fincned seconds and then compare that to the interest that can be earned on a seller financed second mortgage.

This is of some consideration in a buyer's market becuase many are quite concerned with the interest rate on a seller held financing type of transaction. This is not much different than owner financed or for any type of mortgage held by the seller. Some might say that owner will carry but this is a little different than a lease-purchase agreement. the down payment can be held by the seller in the form of a seller second mortgage.

Lease-purchase or lease-option is the mortgage that is held by the seller in an owner financed type of loan. the owner is the mortgagee and the buyer is the mortgagor. the buyer effectively has two mortgage payments. One mortgage payment to the lender and another to the seller in the form of a seller held second mortgage. These are just a few of the options that are available to a buyer and a seller in a buyers market.

Owner Will Carry

Sellers Helping Buyers Buy Real Estate

2006-10-23T13:02:00.000-07:00

Isn't is a great country that we live in? A country where sellers can actually help buyers to buy real estate. When the seller holds a portion of the selling price as a second mortgage then the seller is helping to do just that. this makes real estate investing as well as real estat agents very happy. This can all b accomplished with a seller held second mortgage.

Let's look at a seller second and owner financing collectively referred to as owner financed real estate. This is quite diffrenet than the institutional first mortgage that is obtained through bank financing. This is a seller held second mortgage. This type of owner financing on real estate is gaining in popularity and is effectively a 'win-win' for all parties involved and especially the buyer and seller.

Hence the term sellers helping buyers buy real estate. Wait a minute, there actually is a website geared toward this type of transaction. let's take a look at owner financing on that site.

Ok, gotta go, but keep in mind that you heard about sellers helping buyers on the moneypaystherent blog first!

Seller Financed Real Estate

Owner Will Carry A Second Mortgage

2006-10-18T17:06:00.000-07:00

OK, I've held my peace for too long in this crazy real estate world. Now, I must assert the true financing options available to buyers and sellers when owner will carry a second mortgage note. Strange you say? Perhaps and perhaps not in terms of real estate. The problem is the supply and demand curve for housing has real estate demand too low and this can be cured withs eller financed second mortgages.

Let's begin with owner financing basics. A seller sells to a buyer and the buyer can do one of three options:

1) Pay in cash

2) Obtain a traditional purchase money mortgage and pay the remained in cash

3) Obtain a first mortgage and have the seller hold a second mortgage

Let's think about the above three options for a moment. If we were in a seller's market (we aren't) then would a seller be willing to accept option #3. The anser is no, option #3 (seller held second mortgage) is not an option in a seller's market.

This means that buyers who could benefit from a seller held second mortgage, also called seller financing, seller seconds, owner will carry, owner financing and the like, are excluded from the real estate scene in a seller's market. Now, consider that we are in a buyers market. What do you suppose would happen to the demand for real estate if a seller was willing to entertain Option#3 (seller financing or seller second) for a buyer? I think the answer is simple: buyers would return to the real estate because of the seller held second mortgage.

So the way that I see this real estate showdown is in this way. Offer to finance a portion of the selling price as a seller held second mortgage and you will benefit from a happy buyer and a happy seller and this is what owner financing is all about.

For more information about owner carrying a second mortgage then please feel free to visit owner financed or www.sellerhelpsbuyer.com

Let's Talk About Seller Financing

2006-10-08T16:51:00.000-07:00

I know very well that listing real estate agenst are having a hard time dealing withs ellers these days. Let's face it, the real estate market has changed considerably and it is no longer a sellers market - it is now a buyers market. This does not bode well for sellers and it is even worse if you happen to be a listing real estate agent witha sellers home or condo or other real estate listed on the MLS at one price and there are no buyers showing up to the open houses. Allright, so the cards are now on the table on the real estate board and we have thus far established that there are few to no buyers and millions and millions of sellers of real estate.

What makes it even worse is that listing real estate agents have to go back to their sellers and ask them to reduce the price of their real estate listing. Let's talk about taht for a second. If someone drives by a real estate sign and sees "new price" on the real estate sign then what do you think that buyer is going to thing? New increased price? Come on, that's not fooling anybode. There is spin control and there is spin control and let me tell you that the real estate marketplace has spun out of control. Let's get this back into more normalcy. here si how to do it - bring back the real estate buyers. How is this accomplished? Through seller financing, seller held seconds, owner finaincg and the like.

Here's how it works. The buyer qualifies for a new first mortgage for 80% or higher of the sale's price. the buyer can put down 0% to 5% and the seller holds the rest as second mortgage. the seller is the mortgagee and th buyer is the borrower of the second mortgage. This is owner financing and also seller held financing. There are of course, concerns that a seller may have in considering seller held second mortgages and the seller should consult a real estate attorney before doing any seller financing.

Owner Will Carry

The Rental Anomaly

2006-09-30T12:16:00.000-07:00

It has been surmised by some that the rental anomaly does not exist in a mortgage paradigm. This refinancing school of thought is the result of short term interest rate pressure that has mad bankruptcy prevalent. Keeping in mind that a purchase money mortgage requires a borrower to put down a down payment in direct correlation with his credit score, one can deduce that the mortgage paradigm does in fact exist.

There are fundamentally, three types of mortgage paradigms: mortgage refinance, mortgage purchase, and a lease purchase treated as a mortgage refinance. Let's deal with each one, one at a time. A mortgage purchase may or may not require a down payment. This is in direct contradiction to a low interest rate loan. A low interest rate loan is in opposition to high interest rate credit card debt. You make or may not be required to go through credit counseling for this or any other down payment assistance program, but be ready to save the down payment in your checking account.

the second and perhaps most puzzling type of bankruptcy buyout, is the debt consolidation refinance loan. If you have undergone credit repair or credit restoration then you know full well that free credit repair is preferred to a credit restoration program that is not free. the credit bureaus, Equifax, Experian, and Trans Union collect the trade line data for a credit report and then provide credit scores from FICO. The FICO score is based on the credit cards, mortgage, insstallment loans and other data on a credit report.

Don't forget that the credit report, FICO, bankruptcy, foreclosure, credit card debt and other items are all factored into a credit report. Once again, take time to discover the anomaly in a mortgage paradigm and don't froget about the free credit repair.