March 31, 2009

Private Money

Private money refers to loans obtained from individuals, investors or funding groups. With the current credit crisis, many real estate investors and home buyers are obtaining funding from private resources instead of traditional lenders. Private money loans can be used to purchase real estate, businesses, automobiles, farm equipment, investment properties and anything else a borrower would normally finance through a bank.

Private money loans are an excellent option for people with blemished credit. Lenders have placed tight constraints on lending practices, making it increasingly difficult for anyone to obtain a mortgage loan or business financing. For individuals with a low credit score, the chance of obtaining bank approval is next to none

Real Estate Investing article on "Private Money"

March 29, 2009

Will Executor

A Will executor refers to a person that has been legally designated to oversee the estate of a person who has died. There are several names for a will executor including estate administrator, probate personal representative, estate executor, probate administrator and estate agent.

Regardless of the title, a will executor must be appointed through the decedent's last will and testament or by a probate judge. Nearly every estate must pass through probate prior to distribution of assets

Real Estate Investing article on "Will Executor"

March 27, 2009

We Buy Ugly Houses

We buy ugly houses is the registered trademark of HomeVestors of America; a nationwide franchise based in Dallas, Texas. HomeVestors has been involved in recycling houses for nearly 40 years, making them one of the most recognizable house buying organizations in the U.S.

Most people are familiar with the "We Buy Ugly Houses" billboards and yard signs. The bright red and yellow signs with gigantic letters claiming to buy unsightly homes bring hope to distressed homeowners who need to sell their house fast or face foreclosure.

Real Estate Investing article on "We Buy Ugly Houses"

March 25, 2009

Foreclosure Homes

Foreclosure homes are houses which borrowers still owe money on but can no longer afford to maintain their payments. Once borrowers become 31 days delinquent on their mortgage note lenders can initiate pre-foreclosure and force the borrower out of their home. Although the process takes several months to complete, foreclosure is a stressful event that will darken your credit history for up to a decade.

Once banks take possession of foreclosure homes they attempt to sell them through foreclosure auctions. More often than not, foreclosed homes require repairs and renovations. It is not uncommon for previous homeowners to trash the place when they are evicted.

Real Estate Investing article on "Foreclosure Homes"

March 23, 2009

How to Avoid Probate

Understanding how to avoid probate can save your estate thousands of dollars and endless hours of time. Many people do not realize that the probate process takes an average of three years to complete. During this time assets depreciate in value while attorney fees escalate.

The following tips reveal how to avoid probate strategies which can easily be implemented at little or no charge.

Real Estate Investing article on "How to Avoid Probate"

March 21, 2009

Probate Personal Representative

A probate personal representative is responsible for overseeing administration of an estate held in probate. When a person dies everything they own is transferred to probate and held until the estate is closed. During probate the personal representative must obtain property appraisals, pay outstanding debts and distribute assets to designated beneficiaries.

The position of probate personal representative requires good money management skills and the ability to mediate with family should disputes arise. Individuals appointed to this position must be at least 18 years of age and never convicted of felony offenses.

Real Estate Investing article on "Probate Personal Representative"

March 19, 2009

Probate Liquidators

Probate liquidators refer to companies that purchase assets held in probate. This can be a valuable service for estate executors because it allows them to sell assets for cash. This money is used to pay off outstanding debts associated with the estate and allows for ease of distribution to creditors and intended beneficiaries.

The sooner assets are sold to probate liquidators, the better. Estate assets are held in probate for an average of three years. During this time assets depreciate, while attorney fees and probate costs escalate. By selling probate assets at the onset of probate, the estate receives more money and can reduce the duration of the probate process.

Real Estate Investing article on "Probate Liquidators"

March 17, 2009

Buy a House

Why would anyone want to buy a house in today's recessed market? Actually, there are several reasons. First of all, housing prices have reached an all-time low; making real estate a great investment for buyers who desire to hold the property for several years. One thing is certain, housing prices will eventually rebound. Investing in real estate today can potentially yield a tidy profit later.

Another reason to buy a house today is the fact there are so many options. In the past, most people bought houses through realtors. They found a home they liked, made an offer, and obtained financing from a lender.

Real Estate Investing article on "Buy a House"

March 15, 2009

Chapter Eleven

Chapter eleven bankruptcy is used by corporations, partnerships and sole proprietors to reorganize business debts. Oftentimes referred to as 'corporate bankruptcy', Chapter 11 allows business owners time to restructure debt in an attempt to become a viable business.

During chapter eleven, businesses are allowed to continue normal operations. If the company is publically-held the reorganization plan must be provided to investors. Distribution of interest and principal payments to bondholders is prohibited during the reorganization phase. Stockholders are placed at the bottom of the list and unable to collect proceeds until creditors are repaid

Real Estate Investing article on "Chapter Eleven"

March 13, 2009

Fail Out of Bankruptcy

The term, 'fail out of bankruptcy' refers to the debtor's inability to adhere to their bankruptcy repayment plan. Personal bankruptcy includes Chapter 7 and Chapter 13. With Chapter 7, outstanding debts are discharged, while Chapter 13 allows debtors to reorganize their debt and repay it over an extended period of time.

One missed payment can cause a debtor to fail out of bankruptcy. When this occurs, creditors are allowed to petition the bankruptcy court and request dismissal. In most cases, the judge will allow the debtor to explain why they missed their payments. However, if the bankruptcy is dismissed creditors can commence with collection proceedings

Real Estate Investing article on "Fail Out of Bankruptcy"

March 11, 2009

Deed of Trust

A deed of trust is a legal document used to secure interest in real estate. Some states use trust deeds instead of mortgages. Although these two documents are similar in nature there is one primary difference. With a deed of trust the lender retains the property title until the loan is paid in full. With a mortgage, the buyer holds the title while the lender is provided with a property lien.

Deed of trust mortgages involve three parties and include the borrower, lender and trustee. The borrower is provided with a mortgage loan through the lender and must designate the lender as beneficiary to the legal title. The trustee retains the property title throughout the duration of the loan.

Real Estate Investing article on "Deed of Trust"

March 09, 2009 | Comments: 1

Sell My House Fast

Help me sell my house fast and I will... fill in the blank. What would you be willing to do? How far would you go to unsaddle yourself from the financial burden and stress caused by your mortgage loan? How low are you willing to price your real estate in this ultra-competitive market?

Sell my house fast programs are popping up all over the place. In fact, this very topic was featured on the morning news. People are being warned of foreclosure rescue scams and mortgage bailout programs. As you well know, scammers love to prey on desperate people and there are a lot of desperate people dealing with their personal mortgage crisis.

Real Estate Investing article on "Sell My House Fast"

March 07, 2009 | Comments: 2

Buy My House

Are you wondering, "Is anybody going to buy my house?" If so, you can join the ranks of the worried homeowners association. Although it probably won't make you feel any better, you aren't alone in your quest to find a qualified buyer. Nearly everyone is feeling the pinch of the downturned economy and nearly crippled real estate market.

Buy my house is the chant of the day. Over the past few months I have seen sellers carrying "buy my house" signs to attract the attention of bus tour home buyers. Buy my house signs are posted throughout every neighborhood and busy intersection.

Real Estate Investing article on "Buy My House"

March 05, 2009

Buy My Home

"Man wears 'buy my home' sandwich board in desperate attempt to sell his house." This headline caught my eye as I skimmed through a local paper. The story went on to explain how the homeowner had been trying to sell his house to stop foreclosure. He claimed the sandwich board seemed to work for people trying to find work, so he thought he would try it as a last ditch effort to save his home and credit.

Perhaps there will be a new market for "buy my home" sandwich boards. That wouldn't be a bad thing considering how many people are losing their jobs. But, do homeowners really have to engage in this type of drastic advertising? The answer is no!

Real Estate Investing article on "Buy My Home"

March 03, 2009

Selling House for Cash

Selling house for cash is a term used by real estate investors who purchase distressed properties with cash instead of traditional financing. Unfortunately, banks are suffering from credit constipation; making it increasingly difficult for buyers to qualify for mortgage loans. For many buyers, the only way they can purchase a home is if they have a wad of cash in hand.

Selling house for cash can expedite the transaction because the buyer does not have to obtain pre-qualification from the bank. There are no stacks of finance papers to sign and no unexpected setbacks. In many cases, buyers can take possession of the property in weeks instead of months.

Real Estate Investing article on "Selling House for Cash"

March 01, 2009

Sell My House Quick

Nearly every day people call me and say, "I need to sell my house quick!" My first question is, "Why?" A person who is facing foreclosure or bankruptcy probably needs to sell their house faster than someone who has inherited probate real estate or owns a second home. It is always important to determine how bad things are before I can help someone develop their exit strategy.

If you are thinking, "I need to sell my house quick" I will ask you the same question - Why? Has your lender sent you foreclosure papers? Are you in the midst of a divorce? Are you ready to walk away from your home because you don't know what to do? If so, I might be able to help and encourage you to submit information about your property via the "We Buy Houses" form on this website.

Real Estate Investing article on "Sell My House Quick"