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1. Foreclosed; The American Dream
Foreclosed; The American Dream

A funny thing happened to me the other day while I was sitting in the dentist's chair. You know how when you are in the chair you are definitely at a conversational disadvantage. Conversations are more like monologues even after your time it up and your tongue is thick from the anesthesia.

Anyway the monologue turned toward the current mortgage crisis with the millions of homeowner's facing foreclosure when Murray, that's my dentist's name proclaimed a simple sure to the real estate debacle by just letting the people stay in their homes and just extend the term of the mortgage another10 .. 20 or maybe even 40 years.

I wanted to ask at what age would someone become "free and clear" but as I said I was clearly at a great disadvantage, dental tools, suction devices and fingers in my mouth. There was hardly enough room left for my tongue let alone pose any opposing point of view so I gave the cursory unintelligible sound when someone is on the wrong end of a tooth scaler and kind of half nodded.

I thought about that dental chat for the next couple of hours on my way home from NYC and decided do some research on the subject. Our parents, if not out grandparents were firm believers in the American dream that they would some day own their property free and clear. In the case of my conversation with Murray I was left wondering when or if many Americans would ever realize mprtgage free real estate again.

According to the National Association of Home Builders (NAHB), first time home buyers are on the average 33 years old, earning $64,000 per year and purchase their first house for about $150,000.00. On the finance side of the equaision about one third of all first time home buyers place a 20% down payment on their property with more than 30% of first time home buyers financing 95% via a mortgage.

Consider the traditional first time buyer with 20% down payment, theoretically he has a $30,000 equity position. Unfortunately with the stumble of real estate values he could actually have much less. Consider if our buyer was in the Miami metro area, one of the areas which shows almost a 22% loss in real estate value. Our traditional home buyer goes from an equity level in the black to the red in the blink of an eye and our buyer with only 5% down sinks like the titanic, totally upended in his financing to the tune of nearly $26,000. In the days of the depression only the people who owned their property free and clear were assured of a roof over their heads and people who wore mortgages like the yoke of an ox more often than not ended up sleeping on the street.

Are the days of free and clear a thing of the past? It would certainly seem that the current trend is to indoctrinate my fellow Americans into a life of debt. In the Washington Post there was an article giving advise on real estate. The question was whether or not they should pay off their mortgage with a portion of their savings. The adviser, an attorney said they should borrow against their equity thus giving them about $73,000 tax free.

That isn't the part which bothered me the most however what grabbed my attention was when he said to put that money in the bank and use it to pay increasing taxes, not create an investment to further one's financial freedom. Have we now lost sight of the American dream and are now embracing into a new era of slavery?

Wikipedia defines a home owner as an owner occupier. An owner-occupier is a person who lives in a house that he or she owns. You only become the owner when it is free and clear otherwise you are just the mortgagor, one step up from a tenant with one difference.... the hope that one day the mortgagor will become mortgage free.

RH Sterling
570.972.1245
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2. Foreclosure Fallout; Seller Assisted Downpayments
Seller Funded Downpayments could Assist Foreclosure Fallout

The housing market crumbles as families and communities struggle under the overwhelming weight of foreclosures, it is imperative that the Administration consider reinstating seller-funded downpayment assistance (DPA). Before its elimination last month, DPA helped more than a million hardworking families become homeowners. If given the option, hundreds-of-thousand more working families would happily take advantage of depressed prices and purchase foreclosed homes, deflating the overstock of inventory that is fueling the housing crisis. Further, distressed families could easily refinance out of risky adjustable rate mortgages into low-interest, fixed FHA mortgages using DPA. Sheila Bair, Chair of the Federal Deposit Insurance Corp. (FDIC) is offering solutions to the foreclosure fallout and calls upon our elected officials to open their eyes to the role that DPA can play in alleviating stress on the economy and families in this foreclosure crisis.

Down-payment assistance programs enlist the participation of nonprofit organizations in a bid to help low-income families cover the costs of a down payment (along with, in some cases, closing costs and other upfront cash requirements). Today, nearly one in five borrowers whose mortgages are insured by the Federal Housing Administration (the largest insurer of mortgages in the U.S.) make use of down-payment assistance programs.

They oversee the transfer of money from the seller to the non-profit organization. In turn, the organization gives the home buyer a similar amount for the down payment on the home (the nonprofit takes a piece of the deal through a percentage of the transaction -- typically one percent -- or a flat fee). The gift is treated as a down payment. The buyer has no part in the transfer of funds, and he or she is not required to pay it back.

The most prominent of the nonprofit organizations that facilitate these transactions are The Nehemiah Program, AmeriDream Inc. and Partners In Charity.

If you are in the interested in investing in the foreclosure market then you will want to develop your own of foreclosure leads to take your busines to the next level. The best way I know to develop thousands of fresh targeted leads is to generate your own by attending live training without cost at Veretekk.

RH Sterling 570.972.1245 Skype: rhsterling http://qurox.veretekk.com

3. Short Sale Investing
Short Sale Investing

The foreclosure market is at an all time high and it seems as though more and more properties continue to face home foreclosure. Because of this increased volume over the past few years, opportunities for real estate investing in foreclosures are tremendous. A search on Google will provide millions of pages on how to invest in pre-foreclosure short sale properties.

Short sales are becoming more and more popular when buying a home foreclosure just because of the huge discounts they offer. Real estate investing has been taken to a new level as more and more investment opportunities pop up everywhere. Therefore, it's important to have the right knowledge when these real estate investment opportunities present themselves.

What is a Short Sale?

A short sale means the seller's lender is accepting a discounted payoff to release an existing mortgage. Just because a property is listed with short sale terms does not mean the lender will accept your offer, even if the seller accepts it. Be aware that the seller need not be in default -- to have stopped making mortgage payments -- before a lender will consider a short sale. A lender may consider a short sale if the seller is current but the value has fallen. The seller may have over-encumbered, owe more than the home is worth, so a discounted price might bring the price in line with market value, not below it.

If injvesting in short sale foreclosure properties are of interest you will need leads. The most viable way is to develop your own targeted leads. You can learn how to produce your own leads by placing laser targeted ads on over 12 million places on the Internet - No fees!

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RH Sterling
570.972.1245
Skype: rhsterling


4. Real Estate Investors Want Foreclosure Leads
Real Estate Investor's Want Foreclosure Leads

Financial experts predict nearly 2 million homowners will enter into a foreclosure situation thsi year due to lost jobs, people being force to work for trash can level wage and economic recession. However it is not all bad news, savvy real estate investors will earn huge dollars in the housing market when they purchase foreclosure property at rock bottom prices.

If you are an investor searching for properties in the foreclosure process, bank owned foreclosures or owner occupied homes in foreclosure you need leads. One way is to buy foreclosure leads but they are overworked and expensive. These leads have been sold many times over and receive poor results.

A simple search on Google will show you thousands of pages of companies who will sell you foreclosure leads but why buy what you can produce for free.

Click here to learn how you can produce leads that are yours only, not someone else's recycled junk.

RH Sterling
570.972.1245
Skype: rhsterling