Real Estate and Real Estate Investing Articles on Promissory Notes, Short Sales, Pre Foreclosures and other Cash Flow Investments
July 03, 2009
Last Will and Testament
Executing a Last Will and Testament is a relatively simple and inexpensive process. A Will is used to bequeath inheritance to beneficiaries. There are many ways to draft a Will, but the most common is to utilize the services of a professional estate planner. Doing so can protect the Will from being contested in probate court.
The Last Will and Testament involves several elements. First, a probate executor is designated to handle estate-related affairs. Estate administrators are responsible for a variety of duties, so it is best to discuss this position with the person before naming them in the Will.
Real Estate Investing article on "Last Will and Testament"
June 30, 2009
Loss Mitigator
A loss mitigator refers to an individual who specializes in helping homeowners who have become delinquent on their mortgage note. Loss mitigators either work as an employee of the bank; independent representative for the lender; or an agent who represents the homeowner.
The primary roll of a loss mitigator is to develop a plan allowing borrowers to remain in their home. The most common option offered is a loan modification. When mortgage loans are modified, terms are permanently altered. In some cases, borrowers end up paying a higher mortgage payment in order to cure arrearages
Real Estate Investing article on "Loss Mitigator"
June 26, 2009
Short Sale Foreclosure
Short sale foreclosure properties include residential homes, commercial buildings or raw land that has been returned to the bank because the property owner became delinquent on their mortgage note.
Short sale foreclosure is also an option given to borrowers allowing them to sell their property for less than they owe on their mortgage loan. Short sales can be a saving grace to borrowers unable to refinance or obtain a loan modification. The process generally takes four o six months to complete, but allows the borrower to walk away from their home without owing further monies.
Real Estate Investing article on "Short Sale Foreclosure"
June 23, 2009
How to Short Sale
How to short sale real estate is a hot topic. With millions of homeowners facing foreclosure, short selling property has emerged as the latest and greatest real estate technique. The truth is, short sales have existed for decades. It wasn't until the collapse of financial institutions that this option became public knowledge.
A single article isn't sufficient for learning how to short sale property. The process is complex and requires mountains of paperwork and hours of negotiation. Short sales involve convincing your lender to allow you to sell your house for less than you owe on your mortgage note. Since banks are in business to make money, borrowers must be knowledgeable about the process if they want to obtain short sale approval.
Real Estate Investing article on "How to Short Sale"
June 21, 2009
Mortgage Short Sale
A mortgage short sale is one option available to homeowners facing foreclosure or unable to continue making their mortgage payments. With the current economic turmoil, millions of Americans are struggling to make ends meet. Many must choose between paying their mortgage and putting food on the table. Once they become delinquent on their mortgage note it can be next to impossible to get back on track.
The first step to obtaining a mortgage short sale is to contact your lender. Short sales are usually handled through the bank's loss mitigation department. A loss mitigator will be assigned to handle your case and will work with you throughout the process.
Real Estate Investing article on "Mortgage Short Sale"
June 19, 2009
Prevent Foreclosure
Prevent foreclosure is on the minds of many Americans. The foreclosure crisis is causing unsettling economic turmoil. Every community in the United States is affected in some manner. Housing prices are rapidly falling. People owe more on their mortgage than their house is worth. It's not a good situation.
There are many reasons to prevent foreclosure. The most obvious is no one wants to be homeless. Another major factor is foreclosure wreaks havoc on your credit history. It can take years to recover from the financial fallout.
Real Estate Investing article on "Prevent Foreclosure"
June 17, 2009
Short Sale Home
A short sale home is a house that is being sold for less than is owed on the mortgage note. Borrowers facing foreclosure can sometimes engage in short sales with lender approval. The short sale process is pretty complex and requires a tremendous amount of paperwork, but can allow homeowners to walk away without owing additional money.
A short sale home isn't any different than other homes for sale. In fact, these properties can be quite profitable for real estate investors or buyers looking for a good deal. The downside of purchasing short sale homes is the transaction must be handled through the borrower's mortgage lender.
Real Estate Investing article on "Short Sale Home"
June 15, 2009
Avoid Foreclosure
If you need to avoid foreclosure, you don't have any time to waste. Although lenders are doing their best to help financially-strapped borrowers keep their house, there are only so many options available. Unless you have the financial means to cure mortgage arrearages and stay on track, you might not be able to stop the foreclosure process.
There are steps you can take to avoid foreclosure, but you must take immediate action. If you haven't already done so, now is the time to contact your mortgage lender. The longer you procrastinate, the harder it will be to convince your lender to work with you.
Real Estate Investing article on "Avoid Foreclosure"
June 13, 2009
Bank Short Sale
A bank short sale refers to real estate that is either in foreclosure or has been returned to the bank. With the massive influx of foreclosure real estate, many mortgage lenders are beginning to engage in short sales to avoid the expense of the foreclosure process.
Bank short sale properties can consist of single family homes, condominiums, mobile homes, manufactured homes, commercial real estate or vacant land. When borrowers become delinquent on their mortgage note and unable to fulfill their financial obligation, lenders might allow them to engage in a short sale.
Real Estate Investing article on "Bank Short Sale"
June 11, 2009
Probate Wills
Probate wills are legal documents which detail information about a decedent's estate. A Will includes the name and contact information for the person who will be responsible for handling the estate, a list of assets owned by the decedent, and the individuals who will receive those assets.
Also known as the Last Will and Testament, probate wills are submitted to the local courthouse in the decedent's place of residence. Every Will must be validated to ensure it abides by probate laws and is legally-binding. Certain steps must be followed before distribution of assets can occur.
