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Real Estate Investing Articles on Promissory Notes, Short Sales, Pre Foreclosures and other Cash Flow Investments

Simon Volkov

November 07, 2011

General Power of Attorney

General power of attorney references a legal document that allows one person to engage in a myriad of personal and business financial transactions. It provides broad sweeping powers that essentially allow the agent to conduct nearly any type of activity for an extended period of time.

The person writing the general power of attorney is known as the Principal. They can only authorize their agent to engage in transactions related to property they personally own or to make decisions on their behalf.

Agents are referred to as the attorney-in-fact. This doesn't mean the person has to be a lawyer. Instead, it refers to the authorization they have to engage in transactions that have legal ramifications. For example, agents could apply for financing to buy a house in the Principal's name.

Real Estate Investing article on "General Power of Attorney"

Simon Volkov

November 01, 2011

Power of Attorney Form

A power of attorney form is used for all kinds of transactions that require one person to authorize another person to act as their agent. These forms are an essential component of estate planning, business operations, personal finance, and healthcare matters.

The kind of power of attorney form needed depends on what duties the agent is responsible for performing. For example, a limited power of attorney is used to provide agent privileges to do a specific task during a specific timeframe, while a durable power of attorney grants sweeping rights.

Two parties are involved with each type of POA. Principal refers to the person writing the document and Attorney-in-Fact refers to the person responsible for carrying out tasks. The attorney-in-fact doesn't have to be a lawyer. In fact, they are usually a spouse, relative, business partner, financial advisor, physician, or friend.

Real Estate Investing article on "Power of Attorney Form "

Simon Volkov

October 25, 2011

Medical Power of Attorney

A medical power of attorney form is required when someone wants to let another person make decisions about their healthcare should they become incompetent. The person charged with this responsibility is designated in the POA form as the attorney-in-fact, but this does not mean they have to be a lawyer.

It's smart to establish medical power of attorney regardless of current health status. Unfortunately, no one knows when an expected illness or tragedy will strike and leave them unable to communicate.

It's also smart to execute this document prior to surgery or other types of invasive medical procedures. This type of power of attorney lets a person provide written directives regarding medical treatments, procedures, and services that they do not want to have.

Real Estate Investing article on "Medical Power of Attorney "

Simon Volkov

October 19, 2011

Probate Form

A probate form is required when engaging in proceedings that take place in probate court. These include estate settlement, name changes, adoption, conservatorship, guardianship, recording or making changes to trusts, and litigation associated with probate estates.

The probate form is necessary to obtain a case number for probated estates or to record legal changes through the court. Records retained through probate court are a matter of public record and can be viewed by anyone that wants to see them. The exception to this rule is matters related to trusts

Trusts are used to safeguard estate assets and avoid probate. Within the U.S. every person's estate has to pass through probate upon death. This method is necessary to transfer property to designated beneficiaries and heirs; notify government entities of the death; clear outstanding debts owed by decedents; and file final tax returns.

Real Estate Investing article on "Probate Form"

Simon Volkov

October 15, 2011

Special Power of Attorney

A special power of attorney lets a person engage in specific transactions on behalf of another person. The POA form provides directives regarding the transaction, as well as the date privileges expire.

Common reasons for executing a special power of attorney include authorizing an agent to conduct banking transactions, control financial investments, make business decisions, and buy, sell or trade personal or business assets.

Real estate investors often use this kind of power of attorney to let realtors buy or sell investment properties. Another use is to authorize property management groups to collect rent, conduct background and credit checks, file eviction claims against tenants, or engage in repairs for rental properties.

Real Estate Investing article on "Special Power of Attorney "

Simon Volkov

October 11, 2011

Fannie Mae Mortgages

Fannie Mae mortgages have helped people obtain the dream of homeownership since 1938. This entity originated at the request of President Franklin Roosevelt who wanted to make certain every U.S. citizen had the opportunity to buy affordable housing.

Fannie Mae mortgages make up about half of the real estate loans currently held in the U.S. It's important to note that Fannie Mae doesn't originate loans. Instead, they buy loans from banks in order to free up credit so banks can lend more funds.

Up until 1968, Fannie Mae was part of the U.S. government. At that time, it evolved into a shareholder-owned private company that received the status of being a government-sponsored enterprise (GSE).

Real Estate Investing article on "Fannie Mae Mortgages "

Simon Volkov

October 05, 2011 | Comments: 1

Fannie Mae Loan Mortgage Programs

Fannie Mae loan mortgage programs are available to help people buy affordable houses; alter mortgage terms through refinancing, loan modification, and other options; and avoid foreclosure through alternatives such as short sales or deed in lieu.

Several new Fannie Mae loan mortgage programs have been instituted since the mortgage crisis led to millions of foreclosure. These include: Hardest Hit Fund, Deed-For-Lease, and Fannie Mae Mortgage Help Centers where homeowners can obtain housing counseling to review and apply for mortgage programs.

Hardest Hit Fund is offered in 19 states and aimed at helping homeowners who are experiencing financial hardship due to unemployment or underemployment. Eligibility criteria varies by state, so homeowners will need to spend time learning about what is available in their state.

Real Estate Investing article on "Fannie Mae Loan Mortgage Programs "

Simon Volkov

October 01, 2011

Probate Office

The probate office is where matters surrounding estate settlement, conservatorships, marriage licenses, name changes, and adoption occur. When a person passes away their estate agent files the last will and testament and death certificate through this office to obtain a case number.

Working with the probate office can be simplified by engaging in estate planning. In fact, with proper planning most estates can avoid probate altogether. It's recommended to consult with a probate lawyer or estate planner to ensure adequate protection of estate assets. However, it's helpful to conduct research to learn about the process and available options.

Real Estate Investing article on "Probate Office "

Simon Volkov

September 27, 2011

Durable Power of Attorney

Establishing durable power of attorney is a good idea for anyone that has bills to pay or wants to have a say about medical treatments they receive. POA is a legal document that gives permission to another person to make decisions on your behalf if you become injured or too ill to make decisions or are out of town and unable to appear in person.

Durable power of attorney documents need to be executed for both personal finance and health care. The person who will be in charge of making decisions is known as the attorney-in-fact. This individual is usually a spouse, parent, or relative, but can be anyone you desire.

Real Estate Investing article on "Durable Power of Attorney"

Simon Volkov

September 20, 2011

Asset Management: How to control your asset management while real estate investing

Asset management is essential for business owners and real estate investors. This system is used to maintain record of owned assets and is necessary for tax reporting, obtaining financing, and deciding when to buy and sell properties.

Investors utilize asset management software to determine return on investment for multiple properties. Reports provide cash flow forecasting, performance analysis, and benchmarking, along with monitoring risks and exposures for each property held.

Real estate investing is filled with potential landmines; especially in today's market. Investors need to take advantage of every tool available to help them assess risks and maintain positive cash flow with investment properties.

Real Estate Investing article on "Asset Management "