tag:www.simonvolkov.com,2010://1 2010-03-15T19:18:59Z Real Estate Note Investor | Note Promissory Movable Type Pro 4.23-en tag:www.simonvolkov.com,2010://1.1224 2010-03-15T18:47:00Z 2010-03-15T19:18:59Z

How expired listings marketing really works. Many real estate investors and realtors don't harness the power of this simple strategy. Read this article to give you an overview on expired real estate marketing.

Simon Volkov http://www.simonvolkov.com/ expired listings marketing plan can help real estate agents and investors locate new clients who are eager to sell. Expired property listings consist of real estate which has been on the market a minimum of six months to one year, but not yet sold. One of the most important aspects of expired listings marketing is connecting with the client. By the time homeowner's real estate contracts expire they are usually feeling despaired and distraught. They are upset their home has not sold. They are feeling dejected because the home they love has gone unnoticed or received low offers. Some are on the brink of bankruptcy or stressed out because they could lose their home to foreclosure. ]]> sell houses fast. Expired listings marketing is the tool that listing agents can use to accomplish these goals. Real estate marketing is multifaceted and requires realtors to place their name and message in front of prospective clients multiple times. The first step involves locating expired listings through MLS databases. The second step involves contacting the seller. This can be accomplished by sending an expired listing letter or by a direct phone call. The next step involves follow-up and is dependent on the result obtained through the prospecting letter or phone call. For example, the seller might request references or desire additional details about your marketing approach. Others might state they are on the fence because their home didn't sell. Listing agents should be prepared to send the type of information sellers require in order to land the deal. Expired listings marketing tools can include initial contact letters, a variety of phone scripts, brochures, realtor postcards, flyers, signs and a marketing brochure outlining intended strategies for selling the property. Each marketing piece should convey trust-building messages. Realtors and real estate investors might need to enlist the help of professional marketing agents to help create expired MLS listings materials. Listing agents should create a variety of expired listings scripts for cold calling prospects. Each script should focus on a specific problem and how your service can solve that problem. Another option is to purchase expired listings marketing kits that include premade templates with eye-catching designs and call-to-action statements. Listing agents simply need to fill in the blanks and print marketing materials. Expired listings kits eliminate the need to invest in bulk quantities of marketing postcards and letters. Listing agents can easily alter content to address the needs of each prospective client. One thing is certain. There is plenty of competition in the field of expired listings real estate. In order to gain clients, listing agents must be one step ahead of everyone else in the game. Developing solid expired listings marketing plan can put you ahead of the pack and place money in your pocket as long as you deliver on promises made. Take time to do it right and you will gain plenty of new business. We invite you to browse our real estate investing article library to learn more about expired listings and marketing strategies. New articles are published on a weekly basis, so take a moment to subscribe to our mailing list by entering your email address in the subscription box on the right sidebar. ]]> tag:www.simonvolkov.com,2010://1.1223 2010-03-14T19:48:58Z 2010-03-14T20:18:24Z

Sell real estate note to real estate investors for quick cash. Many real estate note holders don't even know that they can sell real estate note for a discount to investors and get cash for there note quickly.

Simon Volkov http://www.simonvolkov.com/ sell real estate note in whole or part to obtain lump sum cash payment. All types of real estate notes can be sold including mortgage notes, commercial real estate notes, real estate contracts and promissory notes. In order to sell real estate note, buyers and sellers must enter into a legally binding agreement. Legal documents can include a letter of intent to purchase real estate, agreement to sell real estate and a purchase contract. ]]> Real estate notes are created when realty or land is sold to document the details of the transaction and assign buyer rights. They are used as collateral to secure the property and record the promise to pay. The type of real estate note used depends on the type of property and transaction. Mortgage notes are used with residential homes and commercial real estate. Land contracts are used when buying and selling raw land. Contract sales are used when buyers obtain financing through the seller. Real estate notes are often used in conjunction with mortgage notes to secure financing. This is particularly true when seller carry back financing is offered. With this type of real estate contract, property owners carry a portion of financing and the balance of the loan is financed through a mortgage lender, bank or credit union. Individuals who own seller carry back trust deeds can sell the note in whole or part to another buyer. It is common practice amongst investors to sell partial seller carry back contracts in order to obtain cash for additional investment properties. Real estate notes are commonly used with real estate stock purchases. Oftentimes, investors partner with others to purchase large parcels of land and commercial real estate. Investors purchase stock and the money is placed inside a real estate investment trust. REITs are companies which own and manage multiple properties. Caution should be used when selling real estate notes. While this strategy can be a good method for quickly raising cash, it is not without risk. Most importantly, sellers do not obtain full face value for cash flow notes because there are fees associated with the sale. Depending on the type of property being sold, sellers might be required to obtain a property appraisal or pay a title transfer fee. Real estate is a multidisciplinary field. Individuals who participate in buying and selling real estate notes must be educated about real estate laws, finance options, property management, tenant rights, real estate marketing and business management. The Internet is a good source for obtaining real estate information. Many investors offer investing classes online or sale home study courses. Realtors sometimes offer real estate training classes to local residents. Check the Classifieds section of newspapers and realty publications to locate investors and realtors offering educational real estate courses. Last, but not least, investors should establish a strong network of realty professionals including real estate lawyers, realtors, property appraisers, home inspectors, mortgage lenders and real estate investors. Buying and selling real estate notes can be a lucrative venture. Those who take time to learn the trade well can fatten their wallets by developing a portfolio of profit-generating properties. We invite you to learn more about real estate investment opportunities and how to profit from them by browsing our comprehensive real estate article database. ]]> tag:www.simonvolkov.com,2010://1.1222 2010-03-14T04:11:28Z 2010-03-14T04:38:43Z

What does REO mean? It means real estate owned or reo. This occurs when a property is not sold at a trustee sale and the bank ends up with the property. That's what REO means.

Simon Volkov http://www.simonvolkov.com/ what does REO mean? If so, you're not alone. REO is a buzz word within the real estate industry and stands for Real Estate Owned. REO properties are foreclosure properties that did not sell at auction and have been returned to the lender who originated the mortgage loan. Many people ask, "What does REO mean in terms of profit margins?" This can somewhat difficult to answer. In the past, bank owned homes were sold below market value so banks could liquidate toxic assets; meaning properties which cost the bank money to hold. Today, banks are holding on to repossessed properties in hopes of obtaining a higher price when market conditions change. ]]> foreclosure ranges between $65,000 and $80,000 per property. This cost includes losses incurred by mortgage default, legal fees to file court documents and the act of taking possession of the property. Bank owned properties are managed through each lender's loss mitigation department. In order to purchase properties, buyers must submit an offer through the designated reo agent. Most banks rely on local realtors to list real estate owned homes, but some manage REO transactions in-house. Most people believe bank owned properties are priced the same as foreclosure homes. This is rarely the case. Many foreclosure properties have creditor or tax liens attached. When banks repo homes they must remove the liens in order to sell the property. Additionally, a large percentage of distressed properties require repairs to return the home to marketable condition. Banks invest money into real estate owned properties for sale and must charge a higher price to recoup their investment. When buyers purchase foreclosure property through auctions, they are responsible for clearing liens, making necessary repairs and in some cases, evicting the foreclosed homeowner. With bank owned real estate, those time-consuming and costly tasks have been resolved. Although REO properties have a higher price tag, in the grand scheme of things they are actually cheaper than foreclosure real estate. Buyers unfamiliar with the process of purchasing bank owned real estate should consider working with an REO specialist who can guide them through the process. Many lenders publish reo listings on company websites and include contact information for the listing realtor. When purchasing bank owned properties, buyers should be prepared to engage in multiple counter-offers unless they intend to offer the full asking price. If the REO property requires substantial repairs or renovation, buyers should take photographs of the damage and submit with their counter-offer. In some cases, the bank will elect to make repairs. Other times, banks will adjust the sale price to offset repair costs. Thorough documentation and a professional presentation can help buyers obtain better pricing. At Simon Volkov, we offer a variety of foreclosure and REO properties for sale. Investors and individuals are invited to subscribe to our real estate investment list by entering their email address in the subscription box on the left sidebar. New investment opportunities are submitted in real-time via RSS feed. If you are looking for real estate information, we invite you to browse our investing article library. Here you will find information on buying and selling bank owned and foreclosure properties, finance options, tips for locating distressed real estate, offering investment properties as rent-to-own, providing seller carry back financing and much more. ]]> tag:www.simonvolkov.com,2010://1.1211 2010-03-10T13:19:24Z 2010-03-10T17:32:41Z

Countrywide foreclosure list and other bank owned reo properties are now with Bank of America. Profit from the foreclosure process with first time home buyer programs that can buy cheap homes for sale from the Countrywide foreclosure list.

Simon Volkov http://www.simonvolkov.com/ Countrywide foreclosure list refers to real estate that was backed by Countrywide Financial Corporation and eventually fell prey to foreclosure. At one time, Countrywide was the nation's largest independent mortgage lender. When the banking system collapsed due to subprime lending practices, Countrywide took the biggest financial hit and were eventually bought out by Bank of America. The Countrywide foreclosure list database is now presented through Bank of America website and includes a wide variety of properties. Prospective buyers and real estate investors can use the database to scout out single and multi-family residences, mobile homes, commercial real estate, vacant lots and land, mixed use properties, and newly constructed homes. ]]> cheap homes for sale. Listed real estate is sold through an independent realtor acting on behalf of the mortgage lender or through BOA's loss mitigation department. Buying Countrywide foreclosed homes isn't any different than buying houses through realtors. Buyers requiring home loan financing must undergo the same lending protocol as anyone else. The first step is to obtain prequalification to determine how much money banks will lend to purchase bank owned properties. Individuals who buy Countrywide home foreclosures might qualify for first time home buyer programs and home buyer tax credits. President Obama recently extended the tax credit program through June 30, 2010. First time home buyers can obtain an $8000 home buyer tax credit, while existing homeowners can deduct a $6500 tax credit if they have lived in their primary residence for at least five years and are moving into a more expensive home. It is important to understand bank owned homes are foreclosure properties that did not sell through public auction. Also known as real estate owned or REO properties, these homes are sold in "as is" condition and typically require some level of repair. Buyers must engage in due diligence and obtain a home inspection to determine if the property is worth the asking price. The primary difference between foreclosure and REO homes is once the bank takes possession of the property they remove all liens and judgments and sell the property with a clean title. This is particularly helpful for first time home buyers and buyers unfamiliar with the process of buying foreclosure real estate. Repo homes can make for good investment properties used for rental or vacation homes. Purchasing a foreclosure house in a popular tourist location can allow real estate investors the opportunity to earn sufficient income to pay the mortgage note, property taxes and insurance. When looking at Countrywide foreclosure homes as rental properties, investors must take time to review the area. Many tenants are seeking rental homes in areas with high ranking school systems. Others want easy access to interstate systems and shopping districts. Knowing the area and what it offers can help investors locate appropriate REO homes to attract the type of tenants they are seeking. Buying repossessed homes does not necessarily equate to substantial savings. Lenders have already incurred a loss on the property through the foreclosure process. Properties available through the Countrywide foreclosure list have little room for negotiating the sale price. One option for purchasing bank owned properties at reduced prices is to seek out real estate investors who buy bank portfolios. When investors purchase homes in bulk they are able to obtain wholesale prices and pass savings along to individual buyers. At Simon Volkov, we offer a wide variety of foreclosure, bank owned and short sale real estate through our Investor's Club. This service allows sellers and investors the opportunity to list their property at no-cost and grants buyers the opportunity to purchase real estate at discounted prices. To subscribe to our mailing list, enter your email address in the subscription box on the left sidebar. Members are notified the instant investment opportunities are submitted. ]]> tag:www.simonvolkov.com,2010://1.1210 2010-03-10T00:18:24Z 2010-03-10T00:56:19Z

Estate executor of decedents doesn't really understand the probate process. Many estate executors work close with a probate attorney to review the Will or a Trust. The role of an estate executor is crucial to the outcome estate.

Simon Volkov http://www.simonvolkov.com/ estate executor is an important decision that should considered carefully. Executors play an integral role of estate management and have multiple duties and responsibilities. Although most people designate their spouse or adult children to administer their estate upon death, this might not always be the best decision. The responsibilities of estate executor can be challenging to handle on their own. Add in dealing with grief over the loss of a loved one and administration duties can be overwhelming. When family strife exists, estate executor's often receive the brunt of anger and are destined to cope with heirs contesting the Will. ]]> trust. Probate is a process required in all 50 states to validate the Will and distribute inheritance assets. The probate process can last between three and nine months, or longer if heirs contest the Will. During probate, estate executor duties can include securing all assets owned by the decedent and obtaining property appraisals for valuable items such as real estate, motor vehicles, jewelry, art, antiques and collectibles. When decedents own financial portfolios the estate executor must obtain date-of-death values from the financial institution where portfolios are held. Documents must be provided to the county tax assessor's office to validate the decedent does not owe back taxes. If taxes are owed, the personal probate representative must pay taxes through the estate. The tax assessor must validate taxes are fully paid before financial holdings can be distributed to beneficiaries. When real estate is involved, estate executors are responsible for securing the property and paying related expenses through the estate. When decedents are married, the surviving spouse generally retains ownership of the property. If decedents are single, they can bequeath real estate to multiple heirs. All beneficiaries must be in agreement if they decide to sell the property during probate. There are multiple facets to estate administration. Much depends on estate value, types of inheritance assets and how well family members get along. Estate executors can enlist the help of a probate attorney or estate planner when necessary. Legal and probate management fees are paid through the estate and are not the responsibility of the Administrator. Individuals must be at least 18 years of age and never convicted of a felony to become estate executor. It is best to designate an adult who is good with finances; capable of making difficult decisions; and able to work under stressful situations. Strategies can be implemented to avoid probate or minimize estate executor duties. We invite you to learn more about estate planning in our wills and probate article library. Presently, we have nearly 40 estate planning articles. New articles are added on a weekly basis, so take a moment to subscribe to our mailing list and be instantly notified when new information is published. ]]> tag:www.simonvolkov.com,2010://1.1208 2010-03-05T20:18:36Z 2010-03-05T21:17:38Z

Loan modification hardship letter needs to have specific elements to get approved. Do you know what they are? Discover the truth on how to properly write you loan modification hardship letter.

Simon Volkov http://www.simonvolkov.com/ loan modification hardship letter to allow borrowers the opportunity to explain events which are causing financial hardship. While loan modification approval is based primarily on borrowers' ability to pay future payments, along with other financial factors, the letter of hardship can help borrowers connect to lenders' emotional side. Taking time to craft a well-written loan modification hardship letter can go a long way in persuading mortgage lenders. It also allows borrowers to do a bit of soul searching to determine where things fell apart and can provide insight on how to fix financial problems. ]]> loan modification is handled through the servicing lender's loss mitigation department. This division consists of employees referred to as loss mitigators whose primary job is to help borrowers devise a repayment plan which will be acceptable to the bank. In addition to handling loan modifications, loss mitigators are also responsible for handling short sale requests and deed in lieu of foreclosure transactions. Considering the number of foreclosures, it is easy to see that loss mitigators carry a heavy workload. The number one rule of working with bank loss mitigation is to remember that loss mitigators are human beings. While the loan modification process can be stressful, it is crucial for borrowers to be polite and considerate when speaking to their assigned loss mitigator. As the saying goes, you can catch more flies with honey. Be nice, be patient, and present requested information in a timely fashion. Over the past few years, I have assisted nearly 400 borrowers in obtaining short sale approval. In my book, Short Sale Hardship Letter eBook Course, I present detailed information on the process of writing a persuasive letter of hardship. This information was derived by talking with loss mitigators, mortgage lenders and real estate attorneys. Writing a loss mitigation hardship letter is essentially the same for loan modifications, mortgage refinance and short sale requests. The primary difference is the verbiage used. All types of debt hardship letters should be written using a business format. The borrower's name and address is included in the upper left side of the page. The lender's name, loss mitigator's name, and lending institution address is located on the left side of the page. The body of financial hardship letters is where borrowers explain the circumstances that led to their need to obtain a modified home loan. Common problems include loss of employment, chronic health problems, divorce, death of a spouse, job relocation, military duty deployment, and incarceration. The hardship letter for loan modification should close with borrowers' signatures and contact information. If you prefer a visual aide, feel free to view the hardship letter sample article I published last year. Without giving away all the secrets provided in the Short Sale eBook, I will share two very important tips for how to write a hardship letter for loan modification. The first is to handwrite the letter of hardship whenever possible. The second tip is to keep the hardship letter concise and succinct. Loss mitigators are very busy and do not have time to hear every detail of your life. Create an outline of events that led to your financial hardship and stick to the facts. Remember that a human being will be reading your letter so write from your heart and keep it real. We invite you to learn more about working with loss mitigation to obtain a successful loan modification outcome by browsing our home loan article library. If you do not qualify for a modified loan and require additional information about entering into a short sale agreement, we encourage you to visit www.ShortSaleHardshipLetter.com to purchase our step-by-step guide. ]]> tag:www.simonvolkov.com,2010://1.1206 2010-03-04T21:53:44Z 2010-03-04T22:50:09Z

Home path mortgage by Fannie Mae was created to help home buyers and investors to purchase repossessed homes using the Homepath mortgage program financing to get you in a home.

Simon Volkov http://www.simonvolkov.com/ Home Path Mortgage is a special home buying option available through Fannie Mae. Multiple incentives are available to entice buyers to purchase Fannie Mae properties including reduced down payment requirements and closing costs, flexible mortgage terms and elimination of mortgage insurance and home appraisal fees. Two types of Home Path mortgage financing options are available. HomePath mortgage financing is available to buyers purchasing a Fannie Mae home as their primary residence. HomePath renovation mortgage financing provides funds to purchase a Fannie Mae home and make light renovations. Both options require buyers to obtain mortgage financing through an approved Home Path lender, which can be located at FannieMae.com. ]]> deed in lieu of foreclosure and forfeiture; meaning homeowners walked away from their home without filing appropriate documents releasing them from the property. Fannie Mae homes are sold in as-is condition and buyers should obtain a professional home inspection prior to making an offer. It is important to note not all Fannie Mae homes are eligible for special financing. Only properties listed at the HomePath.com website qualify. Buyers with less-than-perfect credit and those who do not have the financial means to contribute a large down payment might qualify for Home Path mortgage financing. Buyers of Fannie Mae REO homes are required to provide a minimum 3-percent down payment. However, under the Home Path mortgage loan program borrowers are allowed to use funds obtained through monetary gifts, grants, or loans provided through state or local government agencies, non-profit organizations, or employers. One source for obtaining grant money to purchase bank owned homes is the Department of Housing and Urban Development. Billions of dollars have been set aside for HUDs Neighborhood Stabilization Program Grants; a program developed to stabilize communities that have been hit hard by foreclosure. NSP grant funds can be used to purchase Fannie Mae properties through the Home Path mortgage loan program. NSP funding is overseen by various nationwide partners. Borrowers must contact the program manager in charge of their state or county program. A list of NSP grant partners is available at HUD.gov. Buyers are required to be prequalified prior to placing a bid on Fannie Mae properties. Prequalification is a process used to determine how much money borrowers qualify for and does not guarantee financing will be approved. Fannie Mae home path properties are eligible for the $8000 tax credit for first time home buyers. Additionally, a $6500 tax credit is available to homeowners who have resided in their home for at least five years but want to relocate to a new home. At present, first time home buyer programs and tax credit incentives are set to expire on April 30, 2010. Last, but not least investors can take advantage of discounted properties offered through Fannie Mae Home Path mortgage program. Fannie Mae homes are sold under the "First Look" provision which means buyers utilizing public funds have first dibs on the property during the first 15 days the property is listed. If no offers are presented during this timeframe, real estate investors can submit their offer through a Fannie Mae listing broker. We invite you to learn more about buying houses, financing options, REO and foreclosure properties, and first time home buyer programs by perusing our homeownership article library. New articles are published on a weekly basis, so take a moment to subscribe to our mailing list and receive real-time update notifications. ]]> tag:www.simonvolkov.com,2010://1.1205 2010-03-04T21:44:13Z 2010-03-04T21:47:02Z

Loan modification inside tips on what you really need to know, how to get and avoid foreclosure. Learn Obama's loan modification plan here in simple terms.

Simon Volkov http://www.simonvolkov.com/ Loan modification refers to permanently altering the terms of a home mortgage loan to reduce payments. It is important to note the principal balance is not reduced, even when home values are less than the amount owed on the mortgage note. Instead, servicing lenders reduce interest rates and extend payment terms by up to 40 years. Under Obama's loan modification plan, mortgage lenders and borrowers can receive financial incentives of up to $1000 per year if home loan payments are paid in full and on time each month. Banks can receive a maximum $3000 incentive, while borrowers can receive a reduction of up to $5000 off their home loan principal. ]]> 'Making Home Affordable' plan was initiated to help borrowers with Fannie Mae and Freddie Mac loans obtain a modified loan or refinance mortgages. Presently, these options are only available to borrowers who originated their home loan on or before January 1, 2009. In order to obtain a bank loan modification, borrowers must work directly with their lender's loss mitigation department. Recently, loss mitigation has made headline news because borrowers are finding it increasingly difficult to reach their mortgage lender to determine if they are eligible for loan modification programs. For this reason, borrowers must plan on being diligent in contacting their home loan service provider. In addition to calling lenders, borrowers should send a certified letter with a return receipt request to their bank. The return receipt request requires a signature from a bank representative before it is returned to the sender. Once the signed receipt is returned, attach it to the loan modification hardship letter to show proof correspondence was received. While this action does not guarantee loan modification approval, many lenders become more proactive in tending to borrowers modified loan requests received by certified mail. One of the biggest mistakes borrowers make is procrastinating about contacting their lender. In previous articles I have discussed the phenomenon of 'foreclosure freeze'; meaning borrowers become frozen with fear when it comes to saving their home. It is important to remember that banks do not want to repossess homes, they want their money. Borrowers who qualify for a bank loan modification and can offer a reasonable payment plan can avoid foreclosure by being proactive. Another mistake borrowers make is falling for home loan modification scams. When banks issue Lis Pendens preforeclosure notices the document becomes a matter of public record. Many loan modification companies scour court records to solicit business. Realize there is no need to pay anyone to help obtain a loan modification. The exception to this rule is when borrowers elect to hire a real estate attorney or homeowner advocate. Borrowers can obtain no-cost housing counseling through the Department of Housing and Urban Development (HUD) or Affordable Housing Centers of America (ACORN). At present, ACORN is working with 43 major U.S. lenders to help borrowers restructure their mortgage through the Home Equity Loss Prevention (HELP) program. Homeowners struggling with their mortgage loan payments can obtain information and resources at MakingHomeAffordable.gov. This government website provides links to HUD-approved housing counseling agencies; worksheets to help borrowers determine if they qualify for federal loan modification or refinancing assistance; and links to participating Making Home Affordable loan service providers. We invite you to browse our loan modification article library to locate additional information and resources. Our goal is to share our knowledge and resources to help our readers make informed decisions. Take a moment to subscribe to our mailing list and receive instant notification when new articles are published. ]]> tag:www.simonvolkov.com,2010://1.1203 2010-03-03T02:59:28Z 2010-03-03T03:15:06Z

Making home affordable is part the Obama home affordable plan which help mortgage refinance to millions who may qualify. Avoid foreclosure and see if you qualify for the making home affordable program now.

Simon Volkov http://www.simonvolkov.com/ Making Home Affordable is a government sponsored program initiated through President Obama's Financial Stability Plan. The primary goal of this program is to give homeowners struggling to maintain their home mortgage payments the opportunity to refinance or obtain a loan modification. The Making Home Affordable website offers interactive tools allowing borrowers to quickly determine if they are eligible for home affordable refinance or home affordable modification programs. While the website does not engage in refinancing or modification lending practices, it does provide information and resources to guide borrowers in the right direction. ]]> mortgage refinance. In order to qualify for HARP, borrowers must have home loans for one to four unit residential properties which are backed by Fannie Mae or Freddie Mac. Borrowers must be current on their loan; meaning they have not been more than 30 days late on mortgage payments in the previous twelve months. Additionally, the first mortgage cannot exceed 125-percent of the current market value of their home. Home Affordable Modification Program (HAMP) is an option for borrowers who need to reduce their monthly payment in order to avoid foreclosure. Home affordable loan modifications might be available to borrowers who hold first mortgages equal to or less than $729,750 on their primary residence. Monthly first mortgage payments must be greater than 31-percent of the borrower's gross income. This amount includes principal, interest, taxes, property insurance and homeowner's association dues. HAMP is only applicable to home loans acquired prior to January 1, 2009. Obama's Making Home Affordable Program is currently in the process of offering a 2nd Lien Modification Program to borrowers with a second mortgage against their realestate. Homeowners who qualify for HAMP will automatically be eligible for modifying the second mortgage under the 2MP program. According to MakingHomeAffordable.gov, the 2MP program is expected to be implemented in the first quarter of 2010. In April 2010, foreclosure avoidance options will be offered through the Home Affordable Foreclosure Alternatives Program. Some home loan service providers are already participating in HAFA by allowing borrowers to offering short sale and deed in lieu of foreclosure. Short sale means the property is sold for less than the amount owed against the home loan. Borrowers must work with their lender's loss mitigation department to obtain short sale approval. The process typically takes four to six months to complete and borrowers must meet eligibility requirements. The most crucial aspect of obtaining short sale approval is the property cannot be in foreclosure. Therefore, borrowers who are delinquent by 31 days or more should contact their lender immediately to discuss the short sale option. With deed in lieu of foreclosure, homeowners return their property to their lender and walk away. It is important to note that short sales and deed in lieu transactions might hold borrowers responsible for any deficiencies between the sale price of the property and loan balances. Many lenders obtain deficiency judgments against homeowners that enter into foreclosure alternatives. Deficiency judgments remain on credit reports until fully repaid and can prohibit borrowers from obtaining any type of credit for years to come. Careful consideration should be given before entering into foreclosure alternatives. We invite you to browse our home mortgage library and become informed about the various mortgage refinance and loan modification options. Learn about the pros and cons of filing bankruptcy to prevent foreclosure, short selling real estate, and obtaining a deed in lieu. Education is the key in finding which option is best suited for your needs. ]]> tag:www.simonvolkov.com,2010://1.1185 2010-02-19T20:00:11Z 2010-02-19T20:15:18Z

Online investing is confusing. Learn 3 simply steps on how to find online investing information and what you should know before you start online investing.

Simon Volkov http://www.simonvolkov.com/ Online investing is a relatively new way to build financial portfolios. From online stock trading to purchasing mutual funds and 401k investing to buying real estate, nearly all types of investment products can purchased at the click of a mouse. The most common concern of online investing is security. Suffice it to say, that anything in the online world is subject to computer hacking. Whether it is your bank account, credit cards, medical history or online investment practices, nothing is 100-percent safe. However, investment companies take every conceivable measure to ensure investors are protected. ]]> good investment company. Popular online investment companies include: Vanguard, Fidelity Investments, BNY Mellon Wealth Management, Charles Schwab and Merrill Lynch. Achieving the best results requires investors to engage in online investing comparison shopping. A good place to start is InvestingOnline.org. This website offers an investing simulator center which provides various presentations to acclimate investors to available online investing tools. Investors can peruse each simulator module to find out what it is like to trade online, establish margin accounts, and locate tips to help spot investment hype. Real estate investments can be a profitable addition to financial portfolios. Multiply realty investment options exist including residential and commercial real estate, or buying and selling real estate and land contracts, mortgage notes or seller carry back mortgages. Investors who buy homes can purchase real estate properties online. One popular online investment home buying company is InvestorsWholesale.com, which caters to both first time and seasoned investors. Investors interested in owning a real estate franchise can discover the advantages of buying, selling and rehabbing houses through HomeVestors of America. Known for their "We Buy Ugly Houses" campaign, HomeVestors offers investment real estate franchises in each of the 50 U.S. states. The next step to investing online involves determining which types of investment products to purchase. These can include life insurance, certificates of deposit, mutual funds, retirement investing, treasuries, stocks and options, and tax-deferred and income annuities. Most investors dabble in a little of each to build a diverse financial portfolio. Most online investment firms offer consultations via phone or instant message systems. Additionally, they publish investing articles, video and audio presentations, and interactive guides to familiarize investors with their company and the services offered. People who are new to investing sometimes find establishing financial portfolios online to be challenging. Newbie investors might find it beneficial to work with online investment firms that have brick-and-mortar companies where they can obtain one-on-one financial consultations if desired. Edward Jones offers both in person and online investing options, as do many other investment companies. As a private real estate investor, I offer a variety of realty and cash flow investment opportunities. Investors are encouraged to subscribe to our RSS feed to obtain instant notification when new investment opportunities are available. In order to achieve desired investment results it is important to conduct research to determine which options are best suited for your needs. Begin your journey by browsing our online investing article library. Subscribe to our mailing list to be instantly notified when new investment articles are published. ]]> tag:www.simonvolkov.com,2010://1.1183 2010-02-15T21:15:02Z 2010-02-15T21:29:06Z

Personal finance is the most important priority in one life. Yet ninety nine percent of the population don't care or don't want to learn the basics of personal finance or budgeting. Learn to understand simple personal finance before it's too late.

Simon Volkov http://www.simonvolkov.com/ Personal finance is the most important aspect of anyone's life. Everyone knows it is next to impossible to get through life without money. At bare minimum, everyone requires food, water, shelter and clothing. Unless you are proficient at bartering, you need cash to survive. Many people put personal finance on the back burner because they are barely scraping by. Others don't have a clue about how to create a household budget or balance their check register. Millions of Americans are forced to work well past retirement age because they didn't tend their finance garden in their early years. Some have made bad financial decisions, while others have faced horrific financial disasters such as bankruptcy and foreclosure. ]]> Budgeting is one of the most effective techniques to help you determine where to cut expenses. Creating a budget doesn't cost a dime and only requires an hour of time, but the payoff can last a lifetime. Start by compiling a list of income and expenses. If you earn less than your total bills you either need to find a way to make more money or reduce expenses. Housing costs are typically the largest expense. Homeowners may find they need to sell their house and move into less expensive quarters if they cannot afford their mortgage payments. Otherwise, they face the possibility of losing their home to foreclosure. While it is easier for renter's to relocate, moving can be quite expensive. Most landlords require a security deposit along with the first and last month's rent. Utility companies often require deposits for new customers. Tenants with pets generally must pay an additional pet deposit and a higher rental rate. Instead of living in a gated community or high-rent district, downsizing may be in order. Cars are usually the second largest expense. While everyone would enjoy driving a shiny new car, if you can't afford one there is nothing wrong with driving an older model or taking public transportation. In addition to car payments, there is car insurance, maintenance and repairs and the cost of fuel. If you are struggling to make your car payment, you might need to sell it and purchase an older vehicle to free yourself from monthly payments. Personal finance budgeting also requires review of daily expenses. Many people waste a large amount of money on material things that provide zero return on investment. These include cigarettes, alcohol, lottery tickets, fancy coffee drinks and fast food lunches. Over the years, I have talked with hundreds of people facing financial ruin. When they take time to review where their money is being spent, they are always surprised to see how much is wasted. Chances are you will be surprised as well. There are plenty of places to obtain personal finance advice and budgeting tips. The Internet provides a wealth of information, budgeting tools, personal finance software and calculators. The library provides personal finance books and home study courses that can be borrowed at no cost. There is no reason to spend money to obtain personal finance advice unless you're buried in debt and require credit counseling. If you want to get ahead in life and enjoy your golden years, it is important to take personal finance seriously and develop a long-term plan. There is no time like the present and we invite you to begin your journey by perusing our personal finance articles. Here you will discover information on debt management, debt consolidation, debt settlement, budgeting, credit counseling, bankruptcy and more. ]]> tag:www.simonvolkov.com,2010://1.1182 2010-02-15T20:51:27Z 2010-02-15T21:03:55Z

Homes in Foreclosure can be sold prior to foreclosure using a short sale. This is a great way to avoid foreclosure. Another strategy to avoid foreclosure is to do a deed in lieu of foreclosure before you homes in foreclosure.

Simon Volkov http://www.simonvolkov.com/ homes in foreclosure. Financial publications, such as Money CNN and Business Week, estimate the number of foreclosure properties to exceed two million in 2010. Add in the 2.3 million foreclosed homes of 2008 and nearly three million in 2009 and it is easy to see the magnitude of the situation. Homes in foreclosure affect not only borrowers and banks, but neighborhoods and entire communities. Foreclosure real estate reduces property values of all homes within the area. Communities receive less government funding which in turn forces budget cuts within schools, public services and infrastructure. ]]> foreclosure can avoid financial ruin by becoming proactive. While they may not be able to save their home, strategies exist to prevent total financial chaos. These can include loan modifications, short sale agreements or deed in lieu of foreclosure. Loan modifications are available to borrowers who possess the financial ability to make future mortgage payments. In recent weeks, modified mortgage loans have made headline news. Reason being that homeowners are becoming increasingly frustrated because their lender is slow to respond or do not follow through on filing appropriate paperwork. When working with lenders to avoid foreclosure, the first rule of thumb is to be persistent. This can be challenging when trying to juggle a fulltime job and family life. However, if you want to save your home you must find a way to make necessary phone calls, write letters, and submit financial documents to your lender. Short sales are an option where banks allow borrowers to sell their home for less than the amount owed on the home loan. The short sale process is complex and can take several months to complete. This option is only available to borrowers who are 31 days or more delinquent on their mortgage payments, but not yet entered into foreclosure. Borrowers must submit a short sale packet which includes financial documents. Bank loss mitigators review the information to determine if the borrower qualifies for this type of real estate transaction. A qualified buyer must be in place and borrowers must leave the residence once short sale approval is obtained. One crucial element of short sale real estate is to obtain a payment in full agreement. Lenders have the option to accept the short sale purchase price as payment in full to satisfy the outstanding home loan or persue borrowers for the deficiency. For example, a homeowner short sells his property for $40,000 less than is owed on the loan. If the bank does not enter into payment in full agreement, the borrower is responsible for paying $40,000 on a home he no longer owns. To make matters worse, banks issue deficiency judgments which are reflected on borrowers' credit history until the balance in paid in full. Deficiency judgments can be collected through wage garnishment in some states. As you can see, short selling real estate can be a blessing or a curse. When engaging in short sales it is wise to consult with a real estate attorney or short sale specialist. Deed in lieu of foreclosure allows borrowers to give the house back to the bank. Deed in lieu is available to borrowers who have already entered into foreclosure and all options to save the property have been exhausted. Similar to short sales, deed in lieu agreements can consist of payment in full or deficiency judgments. We offer extensive information regarding each of the aforementioned strategies in our homes in foreclosure article library. While foreclosure can be a frightening experience, the more educated you become about options, the easier it will be to make informed decisions. Don't allow fear to take over. Become educated about the foreclosure process and be persistent in contacting your lender to work out a plan. ]]> tag:www.simonvolkov.com,2010://1.1181 2010-02-15T20:06:47Z 2010-02-15T20:39:47Z

Houses for sale at discount prices at Simon Volkov.com. Learn insider tips on how to purchase as many houses from willing and desperate homeowners at discount prices.

Simon Volkov http://www.simonvolkov.com/ houses offers buyers the opportunity to earn profits. Whether buying a home as a personal residence, vacation home, rental property or for house flipping, real estate can be a smart investment choice. However, buyers must become educated about the process and learn how to spot a good property vs. a potential money pit. Buying houses in today's real estate market requires investors to investigate their options. Housing choices can range from single dwelling homes to multi-family residences, newly constructed houses, and distressed properties such as foreclosure, bank owned, short sale and probate real estate. ]]> probate properties and real estate listed as for sale by owner or those offering seller carry back financing. Buying foreclosure houses can be tricky and often are accompanied by headaches and challenges. Most houses sold through auction require substantial repairs and renovations. Some have been neglected for years and require major overhaul. Unless buyers intend to hold onto the property long-term or are professional rehabbers, investing in foreclosure houses might not be the best investment strategy. A less risky option is to purchase bank owned homes. When houses do not sell through foreclosure auction, the property is returned to the mortgage lender. Oftentimes, foreclosed properties have creditor and tax liens attached. When foreclosure homes are returned to the bank liens are removed and the house is sold with a clean title. Occasionally, lenders makes minor repairs and spruce up the house with a fresh coat of paint, new carpet or flooring, power wash or paint the exterior, and clear the yard of weeds, overgrown bushes and debris. These expenses are added to the sale price. In most cases, REO properties are sold "as is" and repair costs are left to the buyer. In order to negotiate the best deal, buyers must thoroughly inspect bank owned properties and assess the advantages and disadvantages. Although bank owned houses generally cost more than foreclosure homes, they are usually a better deal and can save buyers time and money. With REO houses, investors do not have to waste time and money removing liens or evicting tenant; which often occurs when buying houses through auctions. Investing in housing in a recessed real estate market can be risky, but also lends the opportunity to reap substantial profits over the long run. By investing in properties priced below market value and obtaining low-interest financing, buyers can secure their financial future. If you are looking for profitable real estate deals join our real estate investor's mailing list by entering your email address in the subscription box on the left sidebar. At Simon Volkov, we offer a variety of investment opportunities including discounted real estate and cash flow notes. Real estate club subscribers receive instant access to available investment opportunities and are instantly notified when new investments are published. ]]> tag:www.simonvolkov.com,2010://1.1179 2010-02-14T01:12:35Z 2010-02-14T02:16:18Z

Cash notes for sale from seller carry back business notes. As financing for homes and business still to be tight many investors look for cash notes for sale at deep discounts.

Simon Volkov http://www.simonvolkov.com/ Cash notes for sale offer both buyers and sellers the opportunity to yield strong profits. At present more than sixty types of cash flow notes exist. The most common include seller carry back, land, business, structured settlements, and real estate. Cash notes for sale are usually a safe investment practice because they are secured by tangible property. However, before buying any type of note, investors must engage in due diligence to ensure the deal is sound. ]]> Seller carry back is also referred to as "owner financing" and "owner will carry". When this type of financing is offered the owner carries all or part of the financing. Some will finance 20-percent of the sale price, while others finance 100-percent. Seller carry back cash notes can be sold to private investors or investment groups. For example, John Doe owns a business valued at $2 million. He sells the business to Sam Smith and provides seller carry back financing for all or part of the note. John Doe can sell the business note to an investor by assigning payment rights in whole or part. John probably won't receive 100-percent of the note value. However, he can obtain a lump sum of cash instead of waiting years for repayment. Investors might offer John $1.5 million towards his $2 million business cash note. Investors now carry the financial risk and must collect payments. They must wait for repayment of the note unless they sell it. Over time, investors will earn a profit of $500,000, plus interest. Business notes are a popular cash note investment. There are three primary business notes including: Factoring, Purchase Order Funding and Seller Carry Back Financing. Each uses business assets as collateral for funding. Factoring involves using account receivables to secure the note. Receivables are sold to a funding source known as the Factor. Factors can be a bank, credit union, private investor or investment group. Purchase order funding uses the same principals as Factoring. The only difference is purchase orders are used as collateral. Structured settlements are used to provide compensation to people that have been injured due to negligence or those who win lottery jackpots. Structured settlements are paid over a specific amount of time with annuity payments which are backed by life insurance companies. Annuitants (recipients of annuity payments) can sell all or part of structured settlements to investors. Annuitants must obtain court authorization prior to selling annuity payments. Structured settlements are arranged to provide Annuitants with consistent cash flow to cover expenses related to their injuries. Therefore, a true need to sell structured settlements must be provided to the court. Judges generally do not approve the sale of annuities if they believe it will cause financial harm. Real estate notes are secured by real property. Nearly any type of real estate can be used as collateral. Common types of properties include single family dwellings, multi-family properties, condominiums, manufactured and mobile homes. Careful consideration should be given when investing in real estate notes. Experts suggest consulting with a real estate lawyer to ensure proper documents are executed to transfer property holdings. Investing in cash notes for sale can be beneficial to both parties. However, it is crucial to work with trustworthy professionals and obtain appropriate legal documentation. Doing so helps to ensure profitable investment opportunities. Simon Volkov is a private investor who specializes in cash flow notes for sale. Simon offers a variety of investment opportunities via his Investor's Club. Investors are encouraged to subscribe to his investment list to receive current listings. Simon also provides articles and resources on cash notes and the investing industry. Discover exceptional investments or learn more about investing by browsing our cash notes article library. ]]> tag:www.simonvolkov.com,2010://1.1177 2010-02-11T21:40:09Z 2010-02-11T22:09:01Z

We buy ugly homes for cash. Many investors ask us why we buy ugly homes all across America. Everyone needs a place to live that they call home.

Simon Volkov http://www.simonvolkov.com/ We buy ugly homes has become a popular phrase amongst real estate investors who engage in purchasing run-down houses. In most instances, ugly homes are sold well below market value because the homeowner does not possess the financial means to make repairs and renovations. Investors can purchase ugly homes at reduced prices, make repairs and sell the house for profit. One of the most recognized "we buy ugly homes" investment companies is HomeVestors of America. Based in Dallas, Texas this house buying franchise operates offices across the nation. Their infamous marketing campaign consists of bright yellow and red "We Buy Ugly Houses" billboards positioned along interstates and high-traffic areas. Their message brings hope to homeowners who need to sell homes in less-than-perfect-condition quickly. ]]> distressed properties generally work with homeowners who are facing foreclosure or bankruptcy. These individuals are often in a desperate state of mind and in fear of losing their home. While working with an organization that specializes in buying ugly homes might resolve problems with their mortgage lender, it is important to investigate the company or investor before entering into real estate sale contracts. We buy ugly homes companies typically purchase homes for about 60-percent of the appraised value, less the cost of repairs. If homeowners owe more than their home is worth, they must obtain approval from their bank to short sell their home. In order to enter into a short sale, homeowners must meet criteria established by their lender. Borrowers must work with a bank loss mitigator throughout the short sale process. Homeowners who have accrued equity or those who have entered into foreclosure are not eligible for real estate short sales. Most mortgage lenders require borrowers to have a buyer in place before granting short sale approval. Transactions generally must be completed within 90 days or less. Otherwise, the bank will commence with foreclosure action. Probate administrators managing estates with real estate holdings oftentimes need to sell the property in order to settle the estate. Probate is the legal process used to validate a decedent's Last Will and Testament; assess estate value; and distribute assets to heirs and beneficiaries. The decedent's estate is responsible for maintaining real estate throughout the probate process. Depending on the circumstances, probate can last between six months and three years. In many cases, probate real estate must be sold in order to prevent bankrupting the estate. One little known resource for selling real estate quickly is to seek out private real estate investors or investment groups. Private investors can be located in most cities and towns across America. Good source for locating investors is through real estate forums, real estate brokers and realtors. If you need to sell your house quickly, Simon Volkov is currently buying both ugly and pretty houses. Simon specializes in probate, foreclosure and short sale properties and has helped hundreds of borrowers obtain short sale approval. Start the process by entering information about your house via the "we buy houses" form. Upon receipt of your information, Simon will personally contact you to discuss your situation and suggest available options. Feel free to visit our real estate article library to learn more about selling ugly homes, foreclosure, probate, short sales, bankruptcy and personal money management. We also offer a real estate investment section for individuals interested in starting or expanding a real estate investing business. ]]>