Short Sale - What is it? Should I consider it?

Advantage Team Short Sale Specialists have a very high success rate and have performed thousands of short sales successfully. We have added this service with no additional cost to you. With a nationwide network of experienced Realtors specializing in short sales and working closely with a loss mitigation company, your house will be priced to attract buyers AND satisfy your lender!

Working with experienced agents is critical. Without experience, your file can easily become one of hundreds going through your lender's system. And if not packaged correctly, stating information that the lender finds satisfactory, your deal can be declined.

There are many reasons to pursue a short sale, but among the most common are:

1. It may be less detrimental to your credit report. Instead of stating "foreclosure", your report may read "settled for less than full balance." or "Short Sale" And later when you are purchasing a new home, you will not have to check the box that says, "Foreclosure in the last 7 years."

2. During the short sale process, the Negotiator will include a "Release of Liability Form." This may waive the lender's deficiency judgment rights against you on any monies that they do not re-coup from the sale of the property.

3. Occasionally, attempting a short sale may slow the foreclosure process down allowing you to remain in the property for longer. Conversely, if you no longer live in the home and wish to speed up the process, our agents may be able to accomplish this as well.

For more information about short sales, contact one of our Specialists today at (801) 438-1111.

Would you like to sell your home in one week or less? I did, and so can you.

Hi, my name is Calvin Curry. I’m a homeowner (or was until I sold my home) like you. Three weeks ago a foreclosure, 5 doors down my road, came on the market. I had not planned on selling my home for 2 years, but I knew a foreclosure on my street would drop my home’s value. So I decided to sell my home.

I needed to get it sold before the foreclosure or it would all be a waste of time. So I started the advertising on Monday and had my home sold the next Tuesday. From start to finish my home sold in 7 days

No, I did not give it away. I got a fair price for the home. In fact, I sold it for $10,000 more than the same size house just down the street sold for (no, I’m not talking about the foreclosure house.) Mine was a little nicer, but it proves that I got a fair price for the house.

I know this may sound crazy with how flooded the market is, but it’s not. Yes, I will admit I am a licensed real estate agent, but this home sale method has nothing to do with being a real estate agent.

In fact, the system I used is so “simple” I feel “anyone” can do it, while saving the commission an agent would charge… plus sell the home in much less time.

I have sold a lot of homes the traditional way, but nothing has worked better than the system I used that weekend. I am amazed at how many buyers came to see my house and how they fought over my home.

Here’s the process I followed to sell my home in one week. I’ll go over my sale with you. It was a 9 day process from when we started, to when I signed off on the contract with the buyer. The one week home sale is a hybrid of an auction. On Monday I put out a few arrow signs pointing to the house that said: “Home for auction, to be sold to the highest bidder on Sunday night.”

I put out a few of those signs to build interest before the weekend. I also ran an advertisement like that in the Newspaper Classifieds, Craigslist, and a few other places. On Saturday I put out more signs and held the home open. Buyers came in and made bids over the weekend. On Sunday, late afternoon, I handled the negotiations with the buyers and came to the highest bid. The next day we checked and made sure everything was ready to go, and on Tuesday we signed the contract to sell the home. We successfully closed 3 weeks later, and I am very happy.

This process works very well to sell a seller’s home. And it gets a fair price. I sold my home for $138,500, while a similar home, in not quite as nice of a shape, just sold for $129,000 down the street. And I still got that price despite the home in foreclosure that was for sale. This system works and it works well. There are 3 homes for sale in my neighborhood (including the foreclosure, which is still for sale) and those have been on the market for a while, some as long as 9 months, without selling. So, my home sold fast, and it sold for a fair price.

The reason I am writing you this letter is this. You are one of the home sellers in Utah, lucky enough to be listed with the Advantage Team. Here’s why. The Advantage Team is going to helping her own home sellers sell their home using this method. They are the only agent I know in Utah that can offer this “one week Home sale” Home Selling System. If you want to sell your home fast and for the most money, call the Advantage Team up now, and ask them about the program. You had better hurry because this home selling method could sell your house in a week.

Since my home selling program is sooo effective, I decided to have other agents around the country use it to help their sellers sell their home quickly. So, call the Advantage Team Client Care Manager right now, her number is 801-438-1166.

Here are a few of the things you will like about this home selling system:

· It attracts 20 to 100 buyers thru your home in one weekend.

· It can sell your home in one week versus the standard 4-12 months agents are currently taking.

· It gets the buyers off the fence and gets them to make a decision to buy your home.

· It will put the most money in your pocket.

· I can to sell your home quickly, thereby saving you money.

So, jump on the bandwagon and sign up before the slots are gone. Call Candice right now for more information 801-438-1166.

Sincerely,

Calvin Curry
Gainesville, Florida

P.S. This home selling methods is for real.

P.P.S. I’m glad I sold my house quick and didn’t have it sit on the market for a super long time. My wife Esther and I are having a good time spending the extra money we saved because we sold fast.

Home Loan Modification

A loan modification is a change to the loan contract which is agreed to by the lender and the homeowner. The lender modifies the existing loan(s) in order to work with the homeowner because of a hardship. The purpose is to help make the loan(s) more affordable. Usually it is in the form of a rate reduction and fixing the rate for a certain duration of time. In the past, this was only used when a borrower was delinquent and suffered a hardship such as a job loss, divorce, illness, etc.

Now, borrowers can obtain modifications from their lender for unaffordable rate adjustments on adjustable rate mortgages. The earlier the homeowner addresses the issue, the better the chances are of negotiating a fixed rate and a payment that is manageable. If the homeowner can afford their home and just not their mortgage, then they may be eligible for a loan modification.

A key factor that is required in every loan modification submission, is the existence of a financial hardship for the borrower. The hardship can be temporary in nature or permanent, but the borrower must be able to prove the hardship.

We have partnered with a Law Firm that performs Forensic Loan Audits and Loan Modifications.

- A Forensic Loan Audit is a comprehensive investigation of the documentation from your existing loan(s). A special state and federal mortgage loan post compliance software is used to calculate and identify violations, which compiles the results into a detailed report.

- The Forensic Loan Doc Review is a significant part of a loan modification request submitted on your behalf. - Well over 80% of the audits on ARM Loan docs performed, reveal major TILA (Truth in Lending Act), RESPA (Real Estate Settlement Procedures Act), Predatory Lending, and Real Estate/Mortgage Fraud violations.

- In some cases, if you were simply overcharged by only $35.00 on the final HUD-1, or if the annual percentage rate(APR) is only .125% higher than what was originally disclosed; there may be a violation of the Truth in Lending Act.

- This now gives the Law Firm leverage when negotiating with the lender and more than enough incentive for the lenders to grant a beneficial loan modification.

Click Here to get started on your Forensic Loan Audit and Loan Modification.

Do you know your neighbors?

I mean, REALLY know your neighbors? Well, the attached site will help you know the ones you need to know even better. Just put in your address & your neighborhood map will pop up. Every place you see a red balloon or thumb tack is the home of aconvicted felon. Just hover your mouse over an icon & not only will the name come up, but also the crime they were convicted of. Share with your friends . . . safety first. http://www.felonspy.com/search.html

FHA Downpayment Options

DO YOU NEED A DOWN PAYMENT FOR AN FHA LOAN?

Below are a few different options:

1. Gift funds from the borrower's employer or labor union are permitted. If the gift funds come from the borrower's employer or labor union a copy of the legal agreement that specifies the terms and conditions of the gift must be obtained. The legal agreement must establish the (a) organization has a formal gift program, (b) identify the donors mailing address, (c) state the funds are a gift and don't have to be repaid AND (d) show how the funds will be transferred.

2. FHA will permit family members (only a child, parent or grandparent) to lend on a secured or unsecured basis up to 100% of homebuyers required cash investment. Loan may not provide for a balloon payment within five years from date of execution. An executed copy of the document outlining the terms of the secondary financing must be maintained in the lender's file. Borrower must qualify with debt. The debt will be calculated into the "back end" ratio. Family member may obtain loan from own resources, but borrower can't be a co-obligor on loan obtained to give to borrower. Funds may NOT come from a party to the transaction: seller, agent, loan officer, etc.

3. Gift funds from family members

NOTE: FHA does not allow gifts from seller funded down payment assistance programs.

Bank of America Plans to Help Homeowners

Bank of America has announced that they would like to help people stay in their homes.

They state that they have earmarked more than $8.6 billion dollar to help more than 400,000 homeowners refinance their mortgages at a low interest rate and adjusted principal.

Call us today at 801-438-1111 or simply go to http://www.skip2paymentsnow.com/ and see if you qualify for an interest rate reduction.

"For happiness one needs security." - Anne Morrow Lindbergh

Your home is your sanctuary. You depend on it to keep your loved ones safe, and it's where you keep your cherished possessions and valuables. With so much at stake, protecting your home from intruders is of the utmost importance.

In the United States, a burglary occurs every eight seconds. Thieves average 8-12 minutes in your home, searching for valuable items like electronics, jewelry and hidden cash. Despite this, the vast majority of burglars are not professional thieves and can be thwarted with a few basic measures.

In this month's Item of Value, we have listed several ways of warding off thieves. Steps as simple as lighting your home's exterior and displaying a home alarm system sign--even if you don't have a security system installed--will make your home unattractive to burglars, who are likely to move on to an easier target.

With a few easy steps, you can keep your home secure and your family safe, and we can help.

Simply e-mail us at info@AdvantageTeam.com and we will send you this month's Item of Value.

A Model for Recovery

Dave Liniger founder of RE/MAX International recently wrote:

Lately, everyone is wondering how the government's bailout plan is going to work and I've received a lot of calls from people wanting to know - "How will this help the housing industry?" It's difficult to know how this plan is going to work, especially since a new administration and Congress could change whatever it is to something else.

No one who knows me thinks that I favor government involvement in the business sector. However, the current economic situation requires some quick, bold action. It's not normal or preferable, but these are not normal times. I feel that appropriate government action is required to restore confidence. Otherwise, the current situation could drag on for years and cause significant hardships for consumers.

The government seems destined to acquire or guarantee the so-called "toxic" paper, and will facilitate work-outs or modifications for struggling borrowers. At this point, I'm not sure exactly how this will be accomplished, but I can tell you there is one plan out there that I think should be a model for this process.

As a result of several lawsuits against Countrywide, Bank of America inherited the task of settling with attorneys general in 11 states. The resulting settlement, announced this week, is a realistic strategy that offers a blueprint for other lenders and the government, who have already begun calling BoA to learn the details.

The objective of their plan is to pay the price for keeping American families in their homes and not add to the number of foreclosures in the marketplace. For 11 states, BoA will pay over $8.6 billion to resolve nearly 400,000 mortgages. They will lower interest rates, reduce principal and forgive penalties.

In the long run, the price for modifying these mortgages will avert many potential disasters. We cannot afford to have growing inventories, which only serve to reduce prices and equity. If the government dumps large numbers of REO properties on the market, millions of people would be displaced and entire neighborhoods could suffer a negative impact. My hope is that we can avoid such a disaster.

The economic crisis won't be resolved until the housing crisis is resolved. And I think the best road back to normal is to immediately reduce inventories. I will do everything I can to promote a reasonable resolution to our problem, and I believe that can be found in policies similar to those proposed by Bank of America.

Dave

Foreclosure Humor / Investor Money Available

Do Hard Money can help you become a real estate investor.

Did you know that, while real estate is usually a long term investment, you can beat tradition, with access to one of the best hard money lenders in the States. Real estate has always been considered the turtle of the investment world – it wins the race, but only slowly and steadily. The great thing about real estate is that it always appreciates, over the long term. And when you find a gem of an opportunity, and fund the purchase and repairs through Do Hard Money, real estate starts to win the race a whole lot quicker.

At Do Hard Money, we base our lending decision on the quick-sale value or the sale potential of the property. We don’t base it on you – that is why we can lend so much, so fast, so unobtrusively. When you tell us you’ve found a house with real potential – the proverbial worst house in the best street – we can make things happen very fast to ensure that you can take advantage of the opportunity. In fact, this is usually between 24 and 48 hours that it takes to close a loan. When we fund you the repair money, and tell you that you don’t have to make any monthly payments on the loan, you can start that house appreciating like there’s no tomorrow!

Don’t wait for the usual turtle’s pace of money growth in real estate … contact Keith today at Do Hard Money and simply tell him that we told you to call.

www.DoHardMoney.com P 801-468-1000 F 801-303-8583E Keith@dohardmoney.com

Bailout Humor

Springmeyer Proposes Plan to Cut Home Foreclosures

Bob Springmeyer, the good jobs, good education, good health, good government candidate for Utah governor, today called for an Emergency Foreclosure Reduction Program, to improve Utah's foreclosure process, eliminate rate-spread premiums, and increase mortgage loan transparency. Springmeyer is seeking to prevent more than 6,500 foreclosures valued at over $1.7 billion by encouraging the Utah Department of Financial Institutions to work with borrowers and lenders to coordinate alternative outcomes to foreclosure, at no cost to taxpayers.

"Foreclosures resulting from the mortgage crisis are impacting Utah residents statewide, with devastating impacts on children and families," said Springmeyer. "Losing one's home is a catastrophic event, with substantial downstream effects on our economy. I am committed to pursue solutions to this important problem, rather than simply let the status quo run its harmful course."

The following are totals as of September of residential properties with default notices during the past year, in select counties:

Weber County - 468 residences valued at $86 million
Davis County - 996 residences valued at $226.7 million
Utah County - 1,147 residences valued at $333.07 million
Salt Lake County - 3,584 residences valued at $932.13 million
Washington County - 761 residences valued at $247 million
Total - 6,488 residences valued at $1,738.92 billion

The program Springmeyer is proposing will also: - Require lenders to issue a written notification to delinquent borrowers and the Department of Financial Institutions at least 45 days before executing foreclosure proceedings;

- Direct the Department's staff to work with homeowners and lenders during that 45-day period to facilitate dialogue among mortgage companies, housing counselors, community groups, and state agencies and negotiate options to avoid foreclosure, such as loan modifications;

- Allow the Financial Institutions Commissioner to extend any foreclosure filing notice by up to 30 days if, after a thorough review of the homeowner's loan and unique circumstance, there is a reasonable prospect of solution;

"The program is especially designed to assist homeowners victimized by exploitive subprime mortgages," said Springmeyer. "So far, there is no sign that Huntsman and other Utah Republican leaders are ready to step up and take decisive action in these troubling times for Utah families."

Bob Springmeyer, who has encouraged best practices in business and local government in over thirty years as a management consultant, is seeking election as Governor with his running mate, retired SBA executive Josie Valdez. Springmeyer and Valdez are running on a platform of better government, better education, better jobs, and better healthcare. For more information, visit http://rs6.net/tn.jsp?e=001sxwKGtQrKlZTWkqFg7Hd9hIyxs_5EwNe2wYL7ACKWx3FvA0Q_n4bS3fcQCDMKOq8UlaecrQ5oeprjGg-GF-36zjk4kjOE5swXh4jgiWluCvHfs67dlvn1Q==.

Buy...Buy...Buy!!!

"If Utah were stock, people should be buying!" - Jason Perry, Utah Governor's Office of Economic Development

Click Here to find a Smokin' Hot Deal!

Foreclosure Auctions/Trustee Sales in Utah

Utah Trustee Sales-

Homes are foreclosed in Utah at a trustees sale. Trustee sales usually take place at the court house steps of the county seat. This is a public auction, and anybody may bid on the house to buy a house at a trustee sale you should know that:

1. You must provide $5,000 certified funds prior to bidding.
2. Must pay off the entire purchase price in full within 24 hours. For people who don't have hundred thousands lying around, financing can be obtained through hard money lenders.
3. Properties sold at the public auctions are sold without warranties. There still may be judgements tied to the property. The properties might even still have residents needing eviction.

The following Trustee sites will tell you when and where upcoming Utah Foreclosure auctions will be:

Scott Lundberg
Bryan Cannon
Recontrust
Smith Knowles
Marlon Bates
Woodall and Wassermann

You can also find out about upcoming trustee sales by viewing the classifed sections of local newspapers. If nobody purchases the house at the public auction, the property is purchased by the bank. It then becomes a bank owned or REO Property, and will most likely be listed by a Realtor and then sold.

Locations of Utah Trustee Sales-

The location of the Trustee Sales varies depending on the county the property is located. They are usually held on the court house steps of the county seat. Most Utah Trustee Sales occur in Salt Lake City at the Salt Lake County Courthouse, but there are also many in Ogden at the Weber County Courthouse, in Provo at the Utah County Courthouse, and in Farmington at the Davis County Courthouse. The other counties also have foreclosure auctions, just not quite as often.

Fannie and Freddie: Finding Their Future

I applaud recent government actions to restore confidence and stability in the housing industry by placing Fannie Mae and Freddie Mac into a conservatorship. Federal cash guarantees are part of the plan, which will also replace key executives at the two government sponsored enterprises (GSE's).

Many analysts believe that this move will lead to lower interest rates in the short term and help bring buyers back to the market to reduce the high inventory of homes. All this is good, but it may come at a price. Taxpayers may be stuck with a $200 billion bill to bail out the two GSE's. But there aren't many good options at this point in time.

The original objective for the two GSE's was to provide a "counter-cyclical balance" to the marketplace, letting private organizations operate freely in good times and providing alternative options in bad times, all to ensure consistently affordable homeownership.

These are respectable goals, but over the years, Fannie and Freddie have grown to control roughly half, or about $5 trillion of securitized mortgages in the United States. Part of the stated objectives of the new plan is to allow them to continue to grow through 2009, in an effort to stabilize the market, but then in 2010 to shrink by 10% each year to a more reasonable size.

However, creators of this new restructuring plan recognize that congress and the new administration will ultimately determine a permanent future for Fannie and Freddie. It is my hope that their original mission, to create opportunities for affordable housing, will not be lost, while at the same time, their dominance in the marketplace will be reduced.

Nobody likes the idea of having the government control such a large portion of the mortgage industry, but for the short term, this plan may play a key role in the resolution of the serious problems in the housing industry. A reorganization of Fannie and Freddie may be long overdue and have a positive impact, but we need to be sure that we don't facilitate government control of an industry vital to the economic well being of so many in our country.

Capitulation Verses Opportunity

To capitulate is to surrender, consent, or yield. Capitulation is the giving up of resistance.

Pundits speak of the need for there to be capitulation in the markets before we see a recovery in asset valuations. In the stock market, the signal for this is, a sustained three week to three month sell off. During capitulation, prices break through all resistance barriers and effectively freefall, because investors lose confidence in a recovery and decide selling at any price is better than hanging on. Buyers wait because they are sure prices will be lower tomorrow. During capitulation, as in a bubble, fundamentals are temporarily thrown aside while emotions drive the market. The reversal happens when the opportunities for buyers are just too good to pass up.

Sound familiar? We are well into the stage where sellers are "dumping" their homes because selling at a distressed price is better than not selling at all. During November, December, and January, buyers stood on the sidelines waiting to see what would happen to home prices. Today, foreclosures and short sales are presenting opportunities that are just too good for buyers to pass up.

The land markets are experiencing this on a dramatic scale. Land sales larger than 10 acres evaporated over the Christmas Holiday last year, and buyers are still reluctant to step in nine months later. As a result, sellers have become more and more aggressive with their pricing hoping to draw in buyers. The investment opportunities in the land markets are tremendous today, but the fear of the current cycle remains paralyzing. Sellers and buyers are waiting for the other to flinch. The recovery begins once the standoff is over.

Gerald Loeb, one of the great contrarian investors of the last century, stated: "It should be recognized that [the exceptional opportunities] will inevitably be available principally when the majority of buyers refuse, because of fear, to take advantage of low prices".

The presence of buyers suggests the housing market has capitulated. Since Warren Buffet stepped in to invest $5 billion in Goldman Sachs on September 23rd, it looks like the banking sector may have capitulated. Once the broader recovery has begun, we will all breathe a sigh of relief and then regret our positions weren't more aggressive during the uncertainty.

If you are a seller, adjust your price slightly more aggressively than current market conditions and be ready to do the deal that presents itself. If you are a buyer, waiting until tomorrow may yield a better price; waiting may also yield a missed opportunity. Buyers remorse is just as nagging when it comes as a result of the deal you should have done. Opportunities are not for those with weak resolve.