Posts Tagged ‘mikeknowsshortsales’

Quote from Fox News:

There are more than 7.3 million home loans in some stage of delinquency, according to Lender Processing Services. Lenders are offering to help some homeowners modify their loans. But many borrowers can’t qualify or they are falling back into default. The Obama administration’s $75 billion foreclosure prevention effort has made only a small dent in the problem. More than a third of the 1.2 million borrowers who have enrolled in the mortgage modification program have dropped out. That compares with about 27 percent who have received permanent loan modifications and are making payments on time.

Need I say anymore?…don’t caught and Keep it Short….

If you are or know of someone who needs to have a short sale done…please email me at mikeo@lmsgnow.com

Keep it Short,

Mike Knows

Sorry for the long delay of posting….but most of my time is in the trenches of the short sale market.  It has really picked up in the last 3 months, but significantly looking like this is what and why I have spent the last 2+ years in short sales.  SHORT SALES ARE HOT!! It looks like the market says so too.  The recent report shows more short sales are being sold, and the REO sales are down. Well that makes complete sense to me.  It means that short sale sales….are easier to deal with….(yes you read that correct) than REO’s….IF YOU DEAL WITH THE RIGHT PROFESSIONALS.   We have a full service business in Massachusetts that buys, negotiates, and sells short sales, at various stages with various situations.  This is really a thing that means KNOW who to work with for information to make a sound decision on what you need to know…..and who to know.  Mike Knows Short Sales….

http://www.dsnews.com/articles/reo-sales-drop-with-increase-in-short-report-2010-05-25

Keep it short,

Mike Knows

New results with better number for the bail out program.  But, the admittance of a delayed conversion and trial being extended has me wondering.  That is good news….if this is truly the answer and the reason of the HAMP program.  So I am not trying to be a critic, but and my observation is that looking like a way to string along (a good percentage mind you) the inevitable…. fail loan mod’s and people out of there home.  In some ways (being the critic) it would appear that the BIG BANKS would have their numbers and plan on them for this benefit.  Of course the other benefit is to see them succeed, but somewhere in the middle therein lies the truth.

My specific solution would be to become clear on if this is really a benefit for each homeowner based on the own financial future.  I know leaving a home and the security has a lot of weight, but the challenge is if it is a misled solution in the first place?  Know your numbers and plan for the future. The banks are requesting it, and we as homeowner’s should expect it.

I have a good math class to share if you want to use it or share it.  Please email me for more details.  Mikeo@lmsgnow.com

http://www.dsnews.com/articles/treasury-report-shows-230000-homeowners-in-permanent-hamp-mods-2010-04-14

Please feel free to leave your comments below!

Keep it short,

Mike Knows

So here is where I CHALLENGE all of you whom raise their nose in the air, or let out a “but they are so difficult to deal with” to read this.  STOP THE CHATTER in your head for 2 minutes.  Ok, that was better then getting a hysterical slap off the cheek or cold water poured on you when you are having a nightmare (ask my buddy Gino about that one LOL)!

The article that I am sharing is simply the January 2010 statistics on the type of sales in our real estate world.  I am one to recoginze change after I have fought it and usually been effected by not adapting to it, but I am also one that once I catch on….LOOK OUT.    So this article basically states the obvious with what is out there in the market.  In my own experience it has been in the Massachusetts market for the last 3 years.  I personally have been effected and in it for the last 2 1/2 years.  So, basically the reason for my bantering is because there are many RE Professionals (you know who you are) that still do not want to recognize that there is a viable opportunity in this market (namely short sales), but you refuse to listen and act on what I have for you.  What you say?  You already know?  Hmmm not sure we’ve met or even done business together.  Anyway, I have built a full service RE business that is working this market in short sales and other stuff.  I have even created training and trained many to work with me…..and benefit.  I would cal this a shameless plug if I were selling something but I am not….it’s FREE.  I just need willing, able, and focused individuals to make it work.  Want to know more.  See my free report on my blog or email me at Mikeo@LMSGnow,com

http://www.dsnews.com/articles/distressed-sales-take-larger-share-of-market-first-american-2010-04-08

Keep it short,

Mike Knows

…What …..more government programs!!!????  I had to add my Bostonian sarcasm to this.  And as we (the collective masses with problem property “issues”) come into another attempt to get HELP with this mess.  We are now faced with HAFA..the new Short Sale program.  THE GREAT thing is we still are working short sales and we are not needing HAFA to get them approved for homeowners!

Email me at Mikeo@lmsgnow.com for the summary.

Essentially we have another attempt to handle this issue and make it efficient for the lender.  However, there is more to identify for the pro’s and con’s of this program largely because of the HAMP (loan modification program) that has done so miserably.  Nonetheless we see this as a “works in progress” and we will have a full line of both sides.  If the results are anything like the HAMP then we will have certainly looked at CHUMP and HUMP as alternatives.  Stay tuned as we unravel this.

Keep it short,

Mike Knows

Mikeo@lmsgnow.com

I just read an article (yes another one!) to support predictable real estate and the PRIME OPPORTUNITY in short sales.  There is and will be a growing issue with Commercial Real Estate and defaults.  It is predicted and it is expected.  The cycle of real estate is reliable. Each sector follows each other.  We have seen (and continue to see) the correction with the residential market and as it turns toward recovery (projected 0ut another 3 years) so does the turn for the Commercial Real Estate.  What does that mean to you and I?  Well it depends.  If you prepare and plan for it, it could mean MAJOR OPPORTUNITY for short sales, and the ability to use this previous market (the one we are in now) to support our level of experience in dealing with a market such as this.  Winning over CASH SUPPORTERS to invest with (a.k.a. investor partners) will be a key component to the game.  Build it and they will come.

http://realtytimes.com/rtpages/20100225_losses.htm

Keep it Short,

Mike Knows

Ok, so not really if you have been following the market.  But the report I have attached shares more of the same for the trend in foreclosures…..the are going up and values are still going down!  And, there is no stop in it.  Three main factors serves this as Truth:

1. Bank inventory is being released to the tune of 7 million homes this year to resell

2. Unemployment and 5 Year ARM’s will add to more foreclosures

3. The government programs “attempts” with their programs have proven to help little to none.

In summary, Short Sale the debt to force the accurate value and move the inventory is the goal.  Nothing more than basic supply, demand, and true values.

http://www.dsnews.com/articles/underwater-mortgages-increase-to-113m-first-american-2010-02-23

We buy short sales, we train how to work with us on short sales, and we benefit the entire benefactors of the system.

Keep it short,

Mike Knows

MikeO@LMSGnow.com